Uniswap Labs has raised $165 million in a Series B funding round to move into mobile and launch NFT projects.
The round into the decentralised exchange was led by Polychain Capital with participation from long-time investors a16z crypto, Paradigm, SV Angel and Variant.
“When I built the Uniswap Protocol in 2018, it was an experiment to see if I could create something that fully embodied the values of Ethereum: transparent, secure, and accessible,” said founder Hayden Adams.
“Since then, it has grown and evolved in ways I never imagined. It’s supported $1.2 trillion in trading volume to date and has become critical public infrastructure for exchanging digital value.
“As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own.
“As an example, the governance community recently voted to create the Uniswap Foundation, which will contribute to the Protocol’s decentralised development and give at least $60 million in grants to community projects over the next few years.”
The latest funding values the company at almost $1.7 billion.