1inch Raises $12M in Funding Round Led by Pantera Capital

The 1Inch DEX project has raised $12 million in a funding round led by Pantera Capital, according to a blog post published on Dec. 2.

The $12 million comes from institutional investors Pantera Capital, ParaFi Capital, and Nima Capital, among others
The funds will go towards product development, recruitment, marketing, and market expansion
Just as 1inch hit the milestone of $1 billion in cumulative trading volume in Aug. 2020, it raised $2.8 million from several investors, including Binance Labs, Dragonfly Capital, and FTX
1inch is a DEX aggregator that gives users the best prices by splitting orders among multiple DEXs
The exchange launched a new version of the DEX in Nov. 2020, introducing a token swap API, a new UI and general optimizations; it plans to support more DEX protocols in the future