0x Labs raises $70M from Jump Crypto and Jared LetoMathew Chavez
San Francisco-based DEX infrastructure provider 0x Labs has raised $70 million in a Series B funding round led by Greylock Partners.
As the trusted exchange infrastructure for the internet, @0xProject has enabled $157B+ in tokenized value to flow across 43M+ trades on major blockchains. We @greylockVC are thrilled to lead the Series B. More from @saranormous & @SethGRosenberg https://t.co/EVnzcMu8Kk
— Greylock (@GreylockVC) April 26, 2022
According to information Forbes Pantera Capital, Jump Capital, OpenSea, and Jared Leto also participated in the round.
0xLabs is working on “intelligent order routing” that allows users to split their transactions across various decentralized exchanges like Uniswap, Curve and Balancer. This makes it possible to minimize slippage while trading at the best prices on the market.
The company will use the raised funds to expand the staff, develop and expand the product line, as well as support new networks like Solana.
Solutions from 0x Labs are used in the platform for aggregating liquidity from non-custodial exchanges Matcha. Running the latest took place summer 2020.
Matcha is the second most traded DEX aggregator after 1inch.
In 2021 0x Labs raised $15 million in a Series A funding round led by Pantera Capital. Jump Capital, Coinbase Ventures also participated in it. Blockchain.com Ventures and other venture capital investors.
Recall that the native protocol token 0x (ZRX) soared by 55% against the background of the news about the launch of the NFT marketplace from Coinbase.