Decentralized exchange infrastructure provider 0x Labs closed a Series B funding round led by venture capital firm Greylock Partners. The firm raised $70 million in total, with contributions from Pantera, Jump Crypto, OpenSea, and renowned American actor/musician Jared Leto.
The company’s valuation remains disclosed but previously 0x raised $24 million in a ZRX token sale in 2017, along with $15 million in a Series A equity round led by Pantera capital. 0x Labs is the founder of the 0x Protocol and the ZRX token.
The startup intends to use the newly raised capital to power its entire protocol and platforms in its ecosystem, while also expanding its workforce.
Recently America’s leading cryptocurrency exchange, Coinbase unveiled the beta version of its NFT marketplace also participated in the raise. Reportedly, the beta version of this NFT marketplace was powered by the 0x Protocol.
Earlier this year, 0x labs launched V4 (version 4) to allow users to swap NFTs across the Ethereum and EVM-based blockchains such as Binance Smart Chain, Avalanche, Polygon, Celo, Optimism, and Fantom.
Co-founder and co-CEO of 0x Labs, Will Warren, confirmed that with the new funds 0x will also be used to double down on the current products and services.
