Ethereum-based software provider Flashbots has raised $60 million during its series B funding round from venture capitalists and other major players in the blockchain industry. The funding, which was led by San Francisco-based investment platform, Paradigm, has increased Flashbots’ valuation to at least $1 billion.

Overview of the Fundraising 

The Series B fundraising round, led by popular venture capital firm Paradigm, marks a remarkable shift to Artificial Intelligence by venture capitalists in the crypto space. Aside from heading this Series B round, Paradigm was also the lead investment firm during Flashbots’ seed funding round in 2020. 

Investors in this round were chosen according to their “reverse pitches” in a ‘beauty contest’ for decentralization. The funding round …