Flashbots, an infrastructure company, has announced that it has raised $60 million during a Series B round of investment at a $1 billion valuation.
The investors included venture capital firms, L2 projects, business angels, and developers of decentralized marketplaces and other applications.
The funds will be used to create the SUAVE platform, which will enable faster and more private blockchain transactions.
Flashbots also specializes in reducing the negative effects of Maximum Extractable Value (MEV), commonly referred to as an “invisible tax” in Ethereum.
The team has already introduced a beta version of the MEV-Share protocol, which divides MEV among the Ethereum network users.
It is part of the project’s Flashbots Protect initiative, which is a remote procedure call tool that can be integrated with wallets to secure against MEV bots.