Uniswap Labs has raised $165 million in a new funding round as the parent firm of the world’s largest decentralized exchange looks to broaden its offerings.
The Series B funding was led by Polychain Capital, the startup said. The news confirms a TechCrunch scoop — that said that Uniswap Labs was looking to raise between $100 million to $200 million and was engaging with Polychain — from late last month about the funding. Uniswap Labs said it is valued at $1.66 billion in the new funding. Existing backers a16z crypto, Paradigm, SV Angel, and Variant also participated in the round.
The decentralized exchange commands 64% of all DEX volumes, according to DeFi Llama. And the exchange protocol’s token has a market cap of nearly $5 billion despite the market downturn. (During the peak bull cycle last year, Uni’s market cap exceeded $22.5 billion.)
In recent months, Uniswap Labs has shared
