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

Quick Take

  • Uniswap Labs, developers of leading decentralized exchange Uniswap, secured $165 million in a Series B led by Polychain Capital.
  • The second-round funding aims to brings Uniswap services to “even more people across the world,” according to founder Hayden Adams.
  • Uniswap Labs’ valuation is now $1.66 billion.

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.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.