Uniswap Labs valued at $1.66 billion after $165 million Series B

Uniswap Labs announced it succeeded in raising $165 million in the second round of its funding campaign. The Series B funding was led by Polychain Capital — with participation from a16z crypto, Paradigm, SV Angel and Variant — and is one of the largest raises in the decentralized finance sector's history.

The company behind Uniswap, the leading decentralized exchange, is now valued at $1.66 billion.

“Now, Uniswap Labs is bringing the powerful simplicity and security that has defined the Uniswap Protocol to even more people across the world,” Hayden Adams, founder of Uniswap, shared in a blog post on the Uniswap website.

The decentralized exchange was launched in 2018 and raised $11 million in its first round of funding in 2020. The DEX has processed $1.2 trillion in trading volume, to date. 

Update: Updated to clarify that Uniswap Labs is the corporate entity dedicated to the development of Uniswap, the decentralized exchange.