Uniswap Labs is the parent of Uniswap, the largest decentralized exchange (dex) platform by global trade volume.

A report by Tech Crunch said Friday that Uniswap Labs is in preliminary discussions for a fundraising of $100 million – $200 million and could command a valuation of around $1 billion, thus acquiring the hallowed ‘unicorn’ status. The company is the parent of Uniswap, the biggest decentralized exchange in the world that commands 64% of all DEX volumes, according to DeFi Llama. Further, it is significant that the exchange protocol’s token has a market cap of nearly $5 billion despite the bear market in crypto assets.

Its sources told Tech Crunch that talks were going with various investors, including a Singaporean social wealth fund, and California-based investment giant Polychain, to raise an equity round of $100 million to $200 million at a valuation of about $1 billion.

However, the sources also said the talks were still nascent, and a lot could change.

Previously, Uniswap raised a $11 million Series A in August 2020, led by Andreessen Horowitz (a16z). It will use the latest round to launch new products and to expand its market. One product will allow customers to trade NFTs on Uniswap from a number of marketplaces, while another is likely a wallet.

In May 2022, Uniswap announced that the platform hit the $1 trillion volume milestone in May of 2022.

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