The MEV focused research and development firm, Flashbots has secured a $60 million in Series B funding round. It’s now a unicorn as the valuation of the company has reached to $1 billion.
The latest funding will be allocated for Suave platform development which allows ‘cheaper and more private transactions’ on blockchain.
Sauve, described as Single Unifying Auction for Value Extraction, is a platform that acts as mempool and helps in block building.
The funding round was led by Paradigm and participation from other undisclosed investors including angels, dApps and other players from MEV supply chain.
Also Read: Delabs Games raised $4.7 Million from Hashed Venture and Polygon Labs
Paradigm has actively contributed to Flashbots as it was also a lead investor in the company’s seed funding stage. In November 2021, The VC firm announced a $2.5B fund to invest in crypto applications.
Flashbots aims to remove negative sentiments around MEV (maximal extractable value), that involves previewing and manipulating upcoming transactions for profits.
