- 0x Labs builds infrastructure for crypto and Web3 exchanges.
- Greylock Partners, Brevan Howard, and Coinbase all invested in the startup’s latest funding round.
- Its founders shared the pitch deck they used to raise $70 million with Insider.
0x Labs, a Web3 startup that builds infrastructure used by decentralized crypto exchanges, raised $70 million in a Series B funding round last month.
VC firm Greylock Partners led the funding round, which also pulled in investment from European hedge fund Brevan Howard and leading crypto exchange Coinbase. Internet entrepreneur Reid Hoffman and “Morbius” star Jared Leto also participated in 0x Labs’ Series B.
Decentralized exchanges allow for peer-to-peer crypto transactions to take place without a centralized intermediary. 0x Labs builds infrastructure for decentralized businesses and developers.
“We help businesses to eliminate the complexity of building in the increasingly fragmented decentralized exchange space,” 0x Labs co-founder and co-CEO Amir Bandeali said. “We provide solutions that make it easy for app developers to incorporate exchange functionality and deliver the best selection of tokens at the best prices to their users.”
Bandeali founded 0x Labs with Will Warren in 2016. The Bay Area-based startup closed a $15 million in Series A funding round last year, led by Pantera Capital.
Individual cryptocurrencies are struggling this year, after performing strongly in 2021. Bitcoin is down 23% and ethereum has fallen 26% year-to-date.
But the crypto space appears to still be attracting significant attention from VCs, with Mysten Labs and Nomad both recently securing over $20 million in funding. Brevan Howard’s newly-launched crypto division BH Digital has already invested in 20 companies, according to its co-head for private investments Peter Johnson.
Check out the 19-slide pitch deck that 0x Labs’ co-founders used to raise $70 million from investors including Brevan, Coinbase, and Greylock:
