Uniswap Labs, the parent company of the world’s most popular decentralized exchange, is preparing a new $100 million funding round to further expand its offering. TechCrunch Reported on September 30th.
The news comes at a perfect time for Uniswap (UNI), which is expected to become an emerging cryptocurrency unicorn.their most recent Series A from 2020has raised $11 million and is currently in the process of another planned funding round. It hopes to grow even more significantly than before.
Uniswap Labs has yet to make an official announcement, but TechCrunch claims to have received information about the deal from four anonymous sources.
The company is currently seeking an equity round worth $100-200 million at a value of approximately $1 billion. To achieve this goal, he is in discussions with multiple investors including PolyChain Capital and his one at Singapore’s Sovereign Wealth Fund to discuss investment details.
According to a TechCrunch report:
“Deliberations for the round have not reached the final stages, and the terms of the deal could change significantly, sources warn.”
The report further states that Polychain was not reached for comment on Thursday, while Uniswap Labs declined to comment.
Prior to this phase, Andreessen Horowitz led an $11 million Series A funding round for Uniswap Labs, which includes USV, Paradigm, Version One, Variant, Parafi Capital, SV Angel and A.Capital. This step in seeking new funding now likely reflects an ambition to expand the range of services.
Uniswap (UNI) market watch
This year, 2022, has been rough for most cryptocurrencies in light of general fears about the new crypto winter caused by the recent market crash.
Uniswap’s historical data From CoinMarketCap, it shows how its value plummeted to previous levels when Crypto Winter hit earlier this year.
The token has continued its rally since hitting a low of $3.38 on June 14th. During July and August, it regained momentum to maintain a stable price range between $7 and $9.
Furthermore, it fell below $7.00 in September. The low for the month was he on Sept. 21, reaching just over $5.18. but, data Data from CoinMarketCap shows that it has since recovered and is now at $6.52, up 11% over the past seven days.
Nevertheless, it is down 85.3% compared to its high of $44.92 on May 3, 2021. CoinGecko Stats.
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https://www.tronweekly.com/uniswap-to-receive-100-million-in-funding/ Uniswap prepares new $100 million funding round