Flashbots becomes unicorn after completing $60 million raise

Quick Take

  • Startup Flashbots raised $60 million from both venture capitalists and other players in the blockchain space.
  • News confirms report from The Block earlier this year that Flashbots sought to raise more capital.

Ethereum infrastructure service Flashbots has raised approximately $60 million at a valuation of $1 billion. 

The company filed with the Securities and Exchange Commission on July 21 to notify the agency it had raised about $30.4 million of the total it was seeking. More SEC filings are expected to become public in the near future, which will likely show the firm raised the total amount desired across the rolling closing.

Investors and partners had been invited to invest in a reverse pitch "beauty contest for decentralization."

The company said participants in the Series B included "leading venture capital firms, Layer-2 networks," angel investors, decentralized exchanges and apps, in addition to MEV supply chain actors, according to an email sent to The Block.

Capital earmarked for Suave

The funding will be directed toward development of the Suave platform that allows users to "transact cheaper and more privately" on the blockchain.

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