People familiar with the matter: Flashbots seeks to raise up to $50 million at a $1 billion valuation

Ethereum infrastructure service Flashbots is in discussions with potential backers to raise an equity investment of $30 million to $50 million at a valuation of $1 billion, The Block reported, citing people familiar with the matter. Instead of pitching to potential investors, Flashbots invited investors to pitch on the opportunity to participate in the round. In addition, people familiar with the matter also mentioned that the encryption venture capital firm Paradigm has promised to lead the investment, and the data website Crunchbase lists Paradigm as the lead investor in Flashbots’ 2020 seed round financing. As of now, Flashbots and Paradigm did not immediately respond to requests for comment.