According to a report citing sources familiar with the company, Uniswap is seeking to raise $100 to $200 million. The funding round is currently in a nascent stage as the report claims Uniswap has been “engaging with a number of investors.”
According to sources, Uniswap is looking for a fresh capital raise from investors like Polychain
Four sources unnamed familiar with the situation claim that Uniswap seeks new capital from investors. The news stems from a report published by Tech Crunch reporter Manish Singh who cites the parties familiar with Uniswap’s business dealings. Singh says the sources claim that the decentralized exchange (dex) startup is “engaging with a number of investors” and one of them is Polychain Capital.
Uniswap seeks $100-200 million of fresh capital, and may be able to print a post-valuation in excess of $1 billion. Uniswap currently has $12.8 million in funding from investors. After the April 2019 seed round of $1.8 million, the Uniswap team has raised $11 million through a Series B led by Andreessen Horowitz.
Parafi capital (Paradigm), Union Square Ventures and Union Square Ventures also contributed $11 Million to Uniswap. Following the formation of the Uniswap Foundation and the announcement that $1.8million in grants will be distributed to 14 beneficiaries, the fundraising news is also important.
According to Defillama.com, Uniswap ranks fifth in decentralized finance protocols (defi), according to total value locked (TVL) statistics. Uniswap’s TVL, on September 30, 2022, is roughly $5.3 billion, up 3.75% during the last seven days. Defillama.com data further shows that 64% of global dex volume is represented by the dex.
Uniswap Version 3 (V3) printed $834,376,434 during 24-hour trade volume. Uniswap Version 2 has approximately $41.71million. There’s also Uniswap Polygon ($97.43M), Uniswap Arbitrum ($47.64M), and Uniswap Optimism ($51.44M). Uniswap had announced that it purchased Genie, a non-fungible token (NFT), aggregator. Recently, integration was made with Sudoswap’s NFT marketplace.
Do you have any thoughts about Uniswap’s plan to raise between $100 and $200 million from strategic investor? Comment below and let us know how you feel about the subject.
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