Uniswap Labs poised to raise $100–$200 million

Uniswap Labs eyes a $100–$200 million funding round at a ~$1 billion valuation, with Polychain and a Singapore sovereign fund among potential backers.

The Uniswap Labs team is in early talks to raise between $100 million and $200 million at a valuation of around $1 billion. TechCrunch reports, citing familiar sources.

According to them, Polychain and an unnamed Singaporean sovereign fund are interested in participating in the funding round.

Terms may change.

The funds will be used to expand the product line.

“Our mission is to provide universal ownership and exchange”, —said Uniswap COO Mary-Catherine Lader.

In August, Uniswap’s ($38 billion) share in the DEX sector stood at 70%. The value of deals closed surpassed $1 trillion since its launch in 2018.

Back in August 2020, the team behind the decentralised exchange raised $11 million.

Earlier, developers sought $74 million from the community to establish the Uniswap Foundation to support the growth of the decentralised exchange.

In August 2022, Uniswap Labs’ head of NFT products Scott Lewis said the platform was interested in NFT-based lending.

In June, representatives of the DEX announced the acquisition of Genie, an NFT marketplace aggregator.

In April, Uniswap Labs launched a venture arm for investments in Web3.

Read ForkLog’s bitcoin news in our Telegram — cryptocurrency news, prices and analysis.