{"id":76693,"date":"2023-04-04T18:39:00","date_gmt":"2023-04-04T15:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76693"},"modified":"2025-09-10T18:53:55","modified_gmt":"2025-09-10T15:53:55","slug":"investors-value-layerzero-at-3-billion-after-120-million-series-b-funding","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/investors-value-layerzero-at-3-billion-after-120-million-series-b-funding\/","title":{"rendered":"Investors value LayerZero at $3 billion after $120 million Series B funding"},"content":{"rendered":"<p>The LayerZero team behind the project raised $120 million in a Series B funding round. The cross-chain protocol was valued at $3 billion.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"zxx\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/t.co\/mhJgoovYis\\\">pic.twitter.com\/mhJgoovYis<\/a><\/p>\n<p>\u2014 LayerZero Labs (@LayerZero_Labs) <a href=\\\"https:\/\/twitter.com\/LayerZero_Labs\/status\/1643238493714280455?ref_src=twsrc%5Etfw\\\">April 4, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The startup was backed by a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea, Christie\u2019s and other investors.<\/p>\n<p>The investments were structured as <span data-descr=\\\"simple agreement for future equity\\\" class=\\\"old_tooltip\\\">SAFE<\/span> and token warrants, according to <a href=\\\"https:\/\/www.theblock.co\/post\/224762\/layerzero-series-b\\\">The Block<\/a>.<\/p>\n<p>The co-founder and CEO Bryan Pellegrino did not provide details on token-distribution timelines.<\/p>\n<p>The team<a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-reveal-layerzero-plans-to-push-valuation-to-3-billion\"> began talks<\/a> about raising additional funding in May 2022.<\/p>\n<p>Two months earlier, the firm<a href=\"https:\/\/u1f987.com\/en\/news\/layerzero-omni-chain-protocol-team-raises-135-million-at-a-1-billion-valuation\"> was valued at $1 billion<\/a>. The Series A round was led by FTX Ventures, Sequoia Capital and Andreessen Horowitz.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cWe don\u2019t need money. One of our main goals this year<\/em>\u2014<em> is expanding into <span data-descr=\\\"Asia-Pacific region\\\" class=\\\"old_tooltip\\\">APAC<\/span> and developing our gaming arm,\u201d<\/em> said Pellegrino.<\/p>\n<\/blockquote>\n<p>The proceeds will also go toward expanding the team.<\/p>\n<p>The protocol connects multiple blockchains, enabling <span data-descr=\\\"decentralized applications\\\" class=\\\"old_tooltip\\\">dapps<\/span> to transfer data across chains. According to LayerZero Labs, their project combines Polkadot\u2019s economic efficiency with Cosmos\u2019 security.<\/p>\n<p>The Stargate bridge enables token transfers in a single transaction without locking, minting or burning, or the redemption of wrapped assets.<\/p>\n<p>LayerZero supports Ethereum, BNB Chain, Polygon, Avalanche, Fantom,<a href=\"https:\/\/u1f987.com\/en\/news\/aptos-integrates-with-layerzero-cross-chain-protocol\"> Aptos<\/a>, Arbitrum and Optimism.<\/p>\n<p>The protocol has been integrated by Uniswap, SushiSwap and PancakeSwap.<\/p>\n<p>The solution also supports NFT transfers via Omnichain Non-Fungible Tokens.<\/p>\n<p>As of writing, the amount of funds deployed in the Stargate cross-chain bridge stands at <a href=\\\"https:\/\/defillama.com\/protocol\/stargate\\\">$382.3 million<\/a>. Two weeks after its March 2021 launch, the TVL <span data-descr=\\\"total value locked (TVL)\\\" class=\\\"old_tooltip\\\">TVL<\/span> <a href=\\\"https:\/\/forklog.io\/obem-likvidnosti-krosschejn-mosta-stargate-prevysil-2-mlrd-v-techenie-nedeli-posle-zapuska\/\\\">reached $2.5 billion<\/a>, peaking at $4.17 billion in early April 2022.<\/p>\n<p>Earlier, in January 2023, Uniswap<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a> members voted 62.3% for the Wormhole cross-chain bridge as the single linking bridge between networks for deploying the protocol on BNB Chain. 37% of the community voted for LayerZero, including Andreessen Horowitz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The LayerZero team behind the project raised $120 million in a Series B funding round. The cross-chain protocol was valued at $3 billion.<\/p>\n","protected":false},"author":1,"featured_media":76694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1210,1349],"class_list":["post-76693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cross-chain-protocols","tag-layerzero"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76693"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76693\/revisions"}],"predecessor-version":[{"id":76695,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76693\/revisions\/76695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76694"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}