Odaily News: Ethereum infrastructure service provider Flashbots has completed a Series B funding round with an estimated valuation of $1 billion and raised approximately $60 million. The funds raised in this round will be used to develop the MEV network SUAVE, which allows users to trade on the blockchain at a lower cost and with greater privacy.



Flashbots confirmed in an email to The Block that the Series B funding round has been fully subscribed, with participation from leading venture capital firms, Layer-2 networks, angel investors, decentralized exchanges, applications, and participants in the MEV supply chain.



Furthermore, a spokesperson for Flashbots confirmed to CoinDesk that the Series B funding round was led by Paradigm.



According to previous reports, Flashbots sought to raise a maximum of $50 million with a valuation of $1 billion in January of this year. It was revealed that crypto venture firm Paradigm had committed to leading the funding round. Data website Crunchbase lists Paradigm as the lead investor in Flashbots' seed funding round in 2020.