The decentralized exchange infrastructure startup Labs Series Pantera CapitalMcsweeney A equity round led by Pantera Capital. The venture capital firm will help the company accelerate its product and also growth as it continues to develop its proprietary decentralized exchange protocol. Read on to learn more about the company and the investors behind this funding round.
Facilitate Peer-to-Peer Trading of Assets
Labs Series Pantera CapitalMcsweeney is the company behind the 0x exchange protocol. The company is developing a decentralized exchange infrastructure to facilitate the peer-to-peer trading of assets. The company raised a $15M Series A round from Pantera Capital and Greylock in 2021. A company plans to use the funds to expand its team and continue building its decentralized exchange protocol, the 0x Protocol.
0x Labs, the company behind the ZRX token and also the decentralized exchange protocol, has closed a $15 million Series A equity round led by Pantera Capital. The money will be used to build out its trading desk business and professional aggregation service. The company will also continue to build out its open source protocol.
Labs Series Pantera CapitalMcsweeney is a crypto asset and also blockchain tech investment firm that has invested in a number of companies. The firm is currently involved with a number of decentralized blockchain projects including Balancer. It has also been vocal about the price of Bitcoin and has predicted that a bull market could begin as early as September 2020. The investment firm says it will continue to focus on developing decentralized products and services and has no plans to slow down its investment strategy.
Development of Matcha Platform
The funding will support Labs Series Pantera CapitalMcsweeney’ development of its Matcha platform, which will aggregate liquidity from other DEXs and also provide the best price across these exchanges. 0x Labs plans to integrate non-EVM block chains and develop cross-chain functionality. The company also plans to expand the range of currencies and assets that can be traded on its exchange. The company frames its next steps as a step towards creating a more transparent financial system.
Company: 0x Labs
0x Labs is a company behind the 0x exchange protocol and the ZRX token, which is the native digital currency for the protocol. Pantera Capital led the $15 million Series A equity round. Managing partner Clay Robbins said the funding was a “holistic investment” in the DEX space.
ZRX was trading below $0.80 earlier Thursday, but gained significantly in the early hours of Friday, peaking at $2.18 on Coinbase. 0x Labs is an equity investor in The Block and also has a number of other projects, including Decentralized Exchanges (DApps).
Investors: Pantera Capital
Investing in startups with promising technologies is a great way to generate wealth for your portfolio. Founded by Pantera Capital in 2013, the firm has invested in more than 100 companies since its inception. Among its portfolio companies, Pantera Capital has invested in 0x Labs, the company behind the 0x exchange protocol.
Professional-Grade Aggregation Service
0x Labs, the firm behind the decentralized exchange protocol and ZRX token, raised $15M in a Series A equity round from Pantera Capital. The funding will help the company build a trading desk and professional-grade aggregation service. The funds will also go towards further development of its open-source protocol.
The new round of funding comes at an important time. The cryptocurrency market is currently experiencing a DeFi boom. The volume of coins issued by decentralized exchanges hit their highest monthly volume ever in January. This means that non-custodial exchange protocols have the potential to capture a small but growing portion of the crypto market.
Another startup that recently raised $15M in a Series A equity round is Goldsky. This company focuses on building decentralized exchanges. Its investors include Polychain Capital, Dragonfly Capital, 1inch, Electric Capital, and IOSG. The company has a history of building decentralized exchanges and has been a successful investment for a number of companies.
The company has also secured new funding from ParaFi Capital and also a number of other investors. Other investors have included SoftBank Vision Fund 2, Temasek, Sound Ventures, Third Point, Marshall Wace, and also others. The funds will help the company build its future product portfolio.