Web3 infrastructure firm Blocknative has received an investment of $ 15 million in the series A-1 round to create blocks in Ethereum, bringing its total valuation to $ 34 million.
Funding Highlights
Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures and others participated in the Series A-1 funding round. Web3 Infrastructure firm which has increased its total valuation to $34 million with this funding, will use the funds raised to continue its leadership in the block-building market and expand its team. Matt Cutler, CEO & co-founder of Blocknative, said:
“With this new financing round, Blocknative is ideally positioned to vigorously pursue the block building opportunity and help drive equitable value recirculation through the entire web3 transaction supply chain. Ace the world increasingly moves on-chain Blocknative web3 ecosystem remains committed to meaningfully revenue through real-time access to the pre-chain data, increased transaction transparency, and the web-scale infrastructure availability at each and every block.”
The concept of block build has been incorporated into the blockchain ecosystem after the Ethereum Merge update. With block build, it is determined in which order transactions will be included in which chain. We can say that the Ethereum merge update is an unmissable opportunity for Web3 infrastructure firm. Since the update, Web3 infrastructure firm has created more than 17000 blocks to the Ethereum network, making it among Ethereum’s most important block generators. In addition, Web3 infrastructure firm has also released the block relay product immediately after the Ethereum merge update.
Spencer Bogart, General Partner at Blockchain Capital, said:
“The Merge marks a new era for Ethereum and a massive opportunity for Blockchain. We believe in their vision for a more transparent, more flexible, and more equitable ecosystem. This team has a track record of executing with professionalism and reliability. Blocknative’s recent launch of their relay and block building brings them ever closer to operating at the core of Ethereum. ”
About The Blocknative
Blocknative is a Web3 infrastructure company operating on the Ethereum network. Web3 infrastructure firm is one of the most important block builders in Ethereum. Blocknative offers real-time infrastructure that enables validators and searchers to optimize their staking rewards and trading profits. Founded in 2018, Blocknative has worked with more than 100 projects such as Lido, MetaMask, imToken, Curve, Balancer, Ethereum Foundation and Polygon Foundation to develop the blockchain ecosystem, especially with DeFi and NFTs.
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