The largest decentralized exchange (dex) platform by global trade volume, Uniswap, is looking to raise between $100 million and $200 million, according to a report citing people familiar with the company. The funding round is currently in its infancy, as the report claims that Uniswap “has engaged with a number of investors.”
Sources say Uniswap is considering another capital raise from investors like Polychain
According to four unnamed sources familiar with the matter, Uniswap is seeking new capital from investors. The news comes from a report by Tech Crunch reporter Manish Singh citing parties familiar with Uniswap’s business dealings. Singh says the sources claim the decentralized exchange (dex) startup is “engaging with a number of investors” and one of them is Polychain Capital.
Uniswap is seeking around $100-200 million in fresh capital and could print a post-valuation of around $1 billion. To date, Uniswap has raised approximately $12.8 billion from investors. After the $1.8m seed round in April 2019, the Uniswap team raised another $11m in a Series A led by Andreessen Horowitz (a16z).
The $11 million injected into Uniswap also came from other venture capital firms like Parafi capital, Paradigm and Union Square Ventures. News of the fundraiser follows the creation of the Uniswap Foundation, and the organization has just revealed plans to distribute $1.8 million in grants to 14 different recipients.
Statistics from Defillama.com show that Uniswap is the fifth largest decentralized finance (defi) protocol by total value locked (TVL). Uniswap’s TVL, as of September 30, 2022, is approximately $5.3 billion, up 3.75% over the last seven days. Defillama.com metrics further show that dex accounts for nearly 64% of all dex volume globally.
Uniswap version 3 (V3) printed $834,376,434 in 24-hour trading volume, while Uniswap V2 has around $41.71 million. There is also Uniswap Polygon ($97.43M), Uniswap Arbitrum ($47.64M) and Uniswap Optimism ($51.44M). At the end of June, Uniswap announced the acquisition of non-fungible token (NFT) aggregator Genie and recently revealed integration with NFT marketplace Sudoswap.
What do you think of Uniswap looking to raise $100-200 million from strategic investors? Let us know what you think about this topic in the comments section below.
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