The blockchain interoperability protocol, LayerZero, has announced raising $135 million at a $1 billion valuation. The funds will be used to advance further the development of cross-chain decentralized applications (dApps).
According to the press release, the Series A extension round of the Canada-based firm was co-led by Sequoia Capital, FTX Ventures, and Andreessen Horowitz. Other participants included Coinbase Ventures, PayPal Ventures, Tiger Global, Uniswap Labs, among others.
With the latest round of capital infusion, LayerZero has reached unicorn status.
Following the development, Bryan Pellegrino, CEO and co-founder, LayerZero Labs, commented,
“This round is a massive step forward for LayerZero Labs and the unfolding interoperability landscape. We’ve brought some of the best and most well-respected entities in the world together to accomplish the same goal: create the generic messaging layer that underpins all interoperability between blockchains.”
The protocol, which c
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