LayerZero Labs, the developer of the blockchain interoperability protocol LayerZero, completed a $120 million Series B financing round with a valuation of $3 billion. a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea and Christie's participated in the investment.
Bryan Pellegrino, co-founder and CEO of LayerZero Labs, said a total of 33 investors participated in the Series B round, but there was no lead investor. The funds were raised to meet LayerZero's growth plans. LayerZero also plans to increase its current headcount of more than 40 employees to about 70 by the end of the year by hiring cross-functional departments including marketing. Pellegrino declined to comment on the token release schedule. (The Block)
