Uniswap Labs, the company behind the DeFi protocol of the same name, has raised $165 million in a Series B funding round.
Participants in the funding round include venture capital firm Polychain Capital. Current investors represented by Andreessen Horowitz, Paradigm, SV Angel and Variant have also taken part in the fund raising.
According to Hayden Adams, founder of the project:
“When I launched the Uniswap protocol in 2018, it was an experiment to see if I could create something that embodies all the values of Ethereum: transparency, security, and accessibility. Since then, it has developed and grown in ways that I could not have imagined. Today, the protocol has a trading volume of $1.2 trillion and has become an important public infrastructure for the exchange of digital assets.”
He has said that Uniswap Labs focuses on products that expand the ecosystem, which includes developer tools, NFT launch, mobile apps and more.