The business behind the decentralised cryptocurrency exchange Uniswap, Uniswap Labs, is looking to raise $100–$200 million at a $1 billion valuation in their next fundraising round. Many entities, such as Polychain and the Singaporean government’s investment arm, are considering participating in Uniswap’s current funding round. The UNI price increased by nearly 5% in a matter of hours following the announcement.
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Fundraising Goals for Uniswap Labs Next Round Are $100-$200 Million
The latest round of funding for Uniswap Labs’ expansion, so the rumour mill tells us, is just getting started. Uniswap, a decentralised cryptocurrency exchange, is looking to raise between $100 million and $200 million at a $1 billion valuation.
Interested parties in the funding round reportedly include Polychain and the sovereign funds of Singapore. A number of potential backers have asked to remain anonymous until after the initial round of funding has been completed.
Furthermore, while the idea is still in its early stages, the conditions of the contract may alter. Uniswap has been quiet about the fundraising efforts. On the other hand, Uniswap Labs has already alluded to lofty intentions to expand its services, such as enabling NFT trading on Uniswap from many marketplaces.
A16z and Paradigm are among Uniswap Labs’ current investors in the venture capital industry. In August of 2020, the company successfully completed a Series A investment round, raising $11 million.
We’re on a quest to liberate global trade and property rights. More people will feel empowered to participate in this ownership if you build in the option for them to participate in value exchanges with your project, business, or group. In an interview with TechCrunch, Mary-Catherine Lader, COO of Uniswap Labs, shared the following.
The development of the decentralised Uniswap ecosystem is also a goal of Uniswap Labs, which is why they plan to establish the Uniswap Foundation. Uniswap has previously claimed that the switch from PoW to PoS on the Ethereum chain will facilitate the exchange and allow web3 to grow.
Investors react positively to news of Uniswap’s funding, sending the UNI price up by more than 5 percent. After peaking at $6.66, the price of UNI had a minor decline. The price has increased by over 3% to $6.48 right now.
Despite a market cap of $4.93 billion, trading volume on Uniswap has increased by only 5%.
Source: Google Trend