Uniswap to Raise $100 Million

Uniswap will see fundings from several entities
These entities will include Singaporean social wealth fund, and Polychain
The August Series A funding was led by Andreessen Horowitz

In its most recent funding round, Uniswap Labs, the company behind one of the largest decentralized exchanges in the world, is looking to raise a massive $100 million fund.Following Uniswap’s previous Series A funding in 2020, this round follows.

In a report on Friday, the development was discovered by the American online newspaper TechCrunch.According to the report, TechCrunch received intel from four reliable sources on the Uniswap deal which is currently in its early stages.The sources have chosen not to be identified.

Series A funding raised $11M

Uniswap will receive funding from a number of sources, including Polychain, an investment powerhouse based in California and a Singaporean social wealth fund.At Uniswap’s $1 billion valuation, the fund will accept investments of $100 million to $200 million.

As previously stated, the sources indicated that the fund is still in its infancy; consequently, the terms surrounding it are likely to change as negotiations progress.Polychain and Uniswap have not shared any pertinent information regarding the report.

If the funding round is successful, it would be Uniswap’s second funding round in two years.In August of 2020, the company concluded its Series A funding.Andreessen Horowitz (a16z), a leading venture capitalist, was in charge of the $11 million funding round.

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Plans for expansion by Uniswap

Uniswap is regarded as the fourth-largest exchange and the largest decentralized exchange in the world.In the years since Hayden Adams, a computer engineer, introduced Uniswap, its popularity has skyrocketed.

The data from DeFiLlama, a DeFi TVL aggregator, show that the decentralized exchange accounts for 64% of the total volume of all decentralized crypto exchanges.

Uniswap has begun releasing several updated versions of its platform in an effort to improve its features to meet the constantly shifting requirements of the crypto community. The platform launched Uniswap v2 in May 2020 and Uniswap v3 in March 2021, just one year apart.

In a tweet, Uniswap Labs stated that the platform reached the $1 trillion volume milestone in May 2022.

This is an interesting feat to accomplish in less than five years. Around 80% of Uniswap’s trade volume occurred during the cryptocurrency bull market, which resulted in a massive interest rate increase.

This ongoing funding round demonstrates that interest in the platform, despite its meteoric rise to prominence. Additionally, Uniswap’s COO Mary-Catherine Lader revealed at the Messari Summit in 2022 that the company intends to introduce new products.