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LayerZero Closes $120 Million Series B at $3 Billion Valuation, $STG Up 7.12% in the Last Hour

LayerZero Closes $120 Million Series B at $3 Billion Valuation, $STG Up 7.12% in the Last Hour

LayerZero Labs, the developer of the cross-chain interoperability protocol LayerZero, has closed a $120 million Series B round of funding at a $3 billion valuation with 33 investors including a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea and Christie. 

Bryan Pellegrino, co-founder and CEO of LayerZero Labs, said the funding was raised to meet LayerZero's growth plans. LayerZero also plans to increase its current headcount of over 40 people to around 70 by the end of the year by hiring across functions, including marketing. 

According to TokenInsight data, Stargate ($STG), launched by LayerZero Labs in March 2022, went up by 5.90% in the last hour, trading at $0.804860 now.

 

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