Infrastructure company Flashbots has raised $60 million at a $1 billion valuation. The Series B round included “leading venture capital firms,” L2 projects, business angels, DEX and other application developers.

The Flashbots team will use the funds raised to build the SUAVE platform, which offers “faster and more confidential” blockchain transactions. The project specializes in reducing the negative aspects of MEV, the “invisible tax” in Ethereum.