LayerZero Labs, the developer of cross-chain messaging protocol LayerZero, has raised $120 million in a funding round to expand its presence in the Asia-Pacific region and increase its headcount. The company has previously raised $135 million in March 2022. The LayerZero protocol is used to create asset bridges between blockchain networks, and the company is a supporter of the Stargate multichain bridge.
With a $3 billion valuation after the latest funding round, over 33 investors participated, including Sequoia Capital, Andreessen Horowitz, BOND, Circle Ventures, Christie’s, OpenSea Ventures, and Samsung Next. LayerZero’s relayer and oracle are used to secure cross-chain messages, and it has been working to create a multichain environment where applications can make the best use of each network’s unique benefits.
