Andreessen Horowitz, Union Square Ventures, Others Take Part in $11 Million Series A Round for Uniswap, a Non-Custodial Ethereum Token Exchange

Ethereum based Uniswap, a leading non-custodial crypto token exchange, has reportedly secured $11 million through a Series A investment round.

Uniswap’s latest funding round was led by giant VC firm Andreessen Horowitz. Union Square Ventures, Version One, Parafi Capital, Variant, SV Angel and A. Capital also took part in the round.  Existing investor Paradigm also contributed to Uniswap’s round.

The Uniswap development team noted:

“This investment round will help us grow our team to build Uniswap V3, which will dramatically increase the flexibility and capital efficiency of the protocol. We can’t wait to present our design to the Ethereum community in the coming months.”

A Form D filing with the US Securities and Exchange Commission (SEC), submitted in June 2020, revealed that the developers behind Uniswap acquired the $11 million in capital from several investors (some names have not been shared publicly).

Uniswap’s filing with the SEC confirms that the first sale of the $11 million in securities was finalized on June 5, 2020. The funding was reportedly acquired from 12 different investors. At present, it’s not clear whether the SEC filing actually reflects the total funds Uniswap has secured through its most-recent funding round.

The investment has been made after Uniswap recently released the second version of its exchange software (Uniswap v2).

Last month, decentralized or non-custodial cryptocurrency exchange (DEX) volume increased to an all-time record $4.3 billion. Uniswap reportedly accounted for a significant 41% of the total DEX trading volume traffic.

In July 2020, it was reported that Uniswap now has over 2,250 unique markets, but there’s a huge potential for scams due to the exchange’s open listing policy.

In June 2020, Ampleforth (AMPL) – which is backed by investments from Pantera Capital – introduced various liquidity incentives on Uniswap.

In May 2020, Uniswap recorded $1.9 million in 24-hour stablecoin DAI / Ethereum (ETH) trading volume, beating Coinbase Pro which only reported $0.2 million in total volume for the same pairs.

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