After securing $15 million in Series A funding, Labs 15m Series Pantera plans to expand its decentralized exchange platform and build an API. The company also plans to increase its marketing efforts and expand to new markets. It has previously raised $11 million in seed funding from Alphabet. This latest round of funding will allow the company to hire more people and expand its service to more markets.
Decentralized Exchange Startup
Labs 15m Series Pantera has invested $15 million in decentralized exchange startup 0x Labs, which has developed a decentralized exchange protocol and ZRX token. The funds will help the company expand its business model internationally. The firm plans to use the funds to develop a trading desk and a professional aggregation service. The company also plans to expand its open source protocol.
Labs 15m Series Pantera has raised a total of $20.5 million from investors. The investment includes a $15 million Series A round led by Lightspeed Venture Partners. The investment also included participation from S28 Capital, Innovation Endeavors, and Fathom Capital. In addition, the startup will welcome Lightspeed Partner Gaurav Gupta to its board of directors.
Advent of Cryptocurrency
Since the advent of cryptocurrency, decentralized exchanges have become a popular alternative to centralized exchanges. These platforms provide users with an interface to trade tokens without the need for an exchange, but still offer the same security and liquidity. For example, a decentralized exchange like Uniswap is designed to attract both experienced traders and newcomers to the cryptocurrency market. These exchanges rely on automated market makers (AMMs) that allow users to select which coins they want to swap and how much. The exchange will then swap the tokens directly into the users wallet. PancakeSwap, which is similar to Uniswap, uses the Binance Smart Chain platform to allow users to trade BEP-20 tokens directly. Its daily trading volume is currently $13 million.
Fast-Growing Decentralized Finance
Decentralized exchanges are a key part of the fast-growing decentralized finance (DeFi) industry. While most exchanges offer a decentralized environment for trading crypto-currencies, some prefer to maintain centralized control over some components. In the past, the SEC has fined exchange operators for violating regulations. The SEC recently fined EtherDelta founder Zachary Coburn for operating an illegal exchange. Even the best decentralized exchanges have their weaknesses.
Pantera Capital
Pantera Labs, the startup behind the decentralized exchange protocol, has raised $15 million in a Series A round led by Pantera Capital. With this round of funding, the company plans to expand globally and develop a trading desk and aggregation service. The funds will also help the company continue building its team and infrastructure.
Ex-Airbnb Security Alumni
Labs 15m Series Pantera company is led by ex-Airbnb security alumni Jack Naglieri, who co-architected StreamAlert, a security project that is used by companies like Netflix, Coinbase, and Duo Security. The company is a software company that provides network security for organizations, and is backed by venture capitalists including JP Morgan Growth Equity Partners and Canapi Ventures. The company plans to use the funding to invest in key functions, such as marketing, sales, and security, and to expand its platform.
The startup also recently closed a $50m Series B round with investors including Tiger Global and Insight Partners. The money will help the startup grow its client base, develop models, and expand internationally. Founder Ed Maslaveckas says the company plans to reach two major new markets by the end of the year. The company is expected to raise $100 million in total by 2020.
Intelligent Features
Pantera TheBlock has received $15 million in a Series A round from 0x Labs, which led the seed round. With the new funding, the company plans to expand its platform globally, create a liquidity aggregation API, and add intelligent features to its platform. The company also plans to expand its partnerships with hedge funds and financial services firms.
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Another recent funding round was led by Emigrant Bank, which provided a convertible note worth $4 million. Other investors include 8VC, the founders of Hero Health, and Gemini and Brex.