Uniswap Labs, which developed the Uniswap protocol, is reportedly holding talks with potential investors for a new funding round.
The potential new round would value the startup at a unicorn valuation.
- According to TechCrunch on Friday (September 30, 2022), four anonymous sources revealed that Uniswap Labs is looking to raise between $100 million and $200 million in a new funding round, with a valuation of $1 billion.
- The startup is reportedly speaking to participants such as Polychain, and a Singaporean foreign fund, although the terms of the deal may change as talks with potential investors is yet to reach the final stage.
- Meanwhile, neither Uniswap Labs nor Polychain has issued a statement about the matter.
- In August, Uniswap token holders voted in favor of launching an independent entity called Uniswap Foundation (UF). The venture, which seeks to improve the growth of the protocol’s decentralized ecosystem, was proposed by Devin Walsh and Ken Ng, with the proposal asking for a $74 million budget.
- Later in September, the Uniswap Foundation disbursed its first wave of grants worth $1.8 million across 14 recipients.
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