0x Labs raises $70 million from Jump Crypto and Jared Leto

Based in San Francisco, the DEX infrastructure provider 0x Labs raised $70 million following a Series B funding round led by Greylock Partners.

As the trusted exchange infrastructure for the internet, @0xProject has enabled $157B+ in tokenized value to flow across 43M+ trades on major blockchains. We @greylockVC are thrilled to lead the Series B. More from @saranormous & @SethGRosenberg https://t.co/EVnzcMu8Kk

— Greylock (@GreylockVC) April 26, 2022

According to Forbes, the round also included Pantera Capital, Jump Capital, OpenSea, and Jared Leto.

0x Labs is developing “intelligent order routing,” which enables splitting users’ orders across different decentralized exchanges such as Uniswap, Curve and Balancer. This allows minimizing slippage by executing trades at the best market prices.

The funds will be used to expand the team, develop and broaden the product lineup, and support new networks such as Solana.

0x Labs’ solutions are used in the non-custodial liquidity aggregation platform Matcha, whose launch took place in the summer of 2020.

Matcha is the second-largest DEX aggregator by trading volume after 1inch.

In 2021, 0x Labs raised $15 million in a Series A round led by Pantera Capital. It also included Jump Capital, Coinbase Ventures, Blockchain.com Ventures and other venture investors.

As reported, the native token of the 0x protocol (ZRX) surged 55% amid news of Coinbase’s NFT marketplace launch.

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