LayerZero Secures $135M Funding From A16z, FTX, Sequoia Capital

LayerZero, a blockchain interoperability protocol has raised $135 million at a valuation of $1 billion. These funds will be used for further development of cross-chain decentralized apps (dApps).

According to the press release Sequoia Capital, FTX ventures and Andreessen Horowitz co-led the Series A extension round. The press release also mentioned that Sequoia Capital, FTX Ventures and Andreessen Horowitz co-led the Series A extension round of LayerZero Labs.

“This round represents a major step forward for LayerZero Labs, and the evolving interoperability landscape. We have brought together some of the most respected and well-respected entities around the globe to achieve the same goal: Create a generic messaging layer that supports all interoperability among blockchains.

LayerZero is currently in beta and aims to fix shortcomings in interoperability. It also seeks to unify applications such as gaming and NFT marketplaces across different blockchains. In the next weeks, it will expand to Terra and Solana.
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