LayerZero Labs, the Vancouver, Canada-based organization behind the leading messaging protocol LayerZero, raised $120M in Series B funding valued at $3 Billion.
The round saw participation from 33 investors, including a16z crypto, BOND, Christie’s, Circle Ventures, Lightspeed, OKX Ventures, OpenSea Ventures, Samsung Next, and Sequoia Capital, amongst others.
The company intends to use the funds to escalate growth, increase the headcount, as well as deepen its presence in the APAC region.
LayerZero Labs is the team behind the blockchain messaging protocol LayerZero, a messaging protocol that allows for interoperability and facilitates cross-chain messaging across countless blockchains. It provides the underlying infrastructure needed for decentralized applications (dApps) to live across multiple blockchains. By leveraging LayerZero, developers can create projects that exist across multiple blockchains without the need for an intermediary to facilitate cross-chain interactions.
The messaging infrastructure connects over 30 blockchains and facilitates the cross-chain messaging from one interface. LayerZero has seen more than 30,000 contracts deployed on its testnet and 3,500 on its mainnet, with 10,000+ unique applications and hundreds of thousands of unique end users. The protocol is utilized by some of crypto’s largest on-chain applications, including the majority of the world’s largest decentralized exchanges (DEXs), such as PancakeSwap, Sushiswap, TraderJoe, and Uniswap.
FinSMEs
06/04/2023