TechFlow reports that Flashbots, an Ethereum infrastructure service, has raised around $60 million in its Series B funding round at a $1 billion valuation, led by Paradigm.
The funds will be used to develop SUAVE, an MEV network that enables users to conduct transactions on blockchains more cheaply and privately.
In an email sent to The Block, Flashbots confirmed that the Series B round was fully subscribed, with participation from "leading venture capital firms, Layer-2 networks," angel investors, decentralized exchanges and applications, as well as participants across the MEV supply chain.
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