Uniswap was supported in the earlier funding rounds by Union Square Ventures and crypto native funds like Paradigm and ParaFi Capital.
It is negotiating with Polychain and one of Singapore’s sovereign funds for investment.
Uniswap Labs, the developer of the Uniswap decentralized exchange (DEX) is negotiating with investors to raise $100 million in the next funding round at a valuation of $1 billion, according to TechCrunch. Polychain and one of Singapore’s sovereign funds are among the investors.
Uniswap raised $1.8 million in 2019 as a seed round and $11 million in 2020 as a Series A round led by Andreessen Horowitz (a16z).
Uniswap was backed by hot tech funds like Union Square Ventures and crypto native funds like Paradigm and ParaFi Capital in the earlier funding rounds.
Recent developments
Uniswap Labs, an early-stage venture firm focused on Web 3.0 companies that develop consumer-facing apps, developer tools, and blockchain infrastructure, was founded in April this year.
Uniswap has joined a growing number of crypto-native businesses that are now formally committing funds to invest in other startups in the sector, such as Cake and cryptocurrency exchange FTX.
besides the introduction of its venture capital firm, 11 enterprises were also invested in including Tenderly, LayerZero, MakerDAO, Aave, Compound Protocol, and PartyDAO.
