Uniswap is conducting a fundraising round of more than 100 million USD?
According to sources, Uniswap Labs - the parent company of DEX Uniswap - is in the process of negotiating to conduct a new round of funding.
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According to TechCrunch , Uniswap Labs is in talks with investors for an equity round of $100 million to $200 million, with a valuation of around $1 billion. The VC funds that are interested in this round of funding include Polychain and a well-known investment fund in Singapore.
According to sources, the round of negotiations has not yet reached its final stage, so the terms are subject to change. Therefore, the amount of capital is also uncertain.
This new round of funding is to finance Uniswap's ambitious expansion plan. As reported by FoxCryptoNews, in recent months, Uniswap has moved to expand into the NFT segment when acquiring the Genie marketplace and negotiating with 7 NFT lending platforms.
More importantly, after the community voting rounds, Uniswap Foundation was born in August 2022 with a budget of 74 million USD. Of which, $60 million for the expansion funding program and $14 million to cover operating costs.
“Speak and do”, the first grant of the Uniswap Foundation in September awarded 14 projects to help develop the industry-wide ecosystem.
UNI price reacted quite positively to this news, currently trading around 6.6 USD.
FoxCryptoNews summary
Sep 30, 2022
