August 20, 2024
Sorella Labs, a crypto startup focused on addressing Ethereum’s maximal extractable value (MEV) issue, has secured $7.5 million in seed funding. The funding round, led by Paradigm and joined by Uniswap Ventures, Bankless Ventures, Robot Ventures, and Nascent, was completed last September but is being announced now as the company comes out of stealth mode with one of its MEV tools now operational.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Sorella Labs | $7.5M | August 20, 2024 | Seed Round | Paradigm | MEV |
Founded in 2022 by Ludwig Thouvenin and Karthik Srinivasan, both university dropouts who met at the University of Chicago, Sorella Labs emerged from their shared passion for blockchain technology and the potential for innovation in the crypto space.
Sorella Labs is creating tools to address the issue of Ethereum’s maximum extractable value (MEV). MEV represents the profits that validators or bots can gain by manipulating the order, insertion, or censorship of transactions within a block. Typical MEV tactics include front-running (placing trades before others), sandwich attacks (trading before and after large transactions), and arbitrage (capitalizing on price differences across platforms). These activities can lead to increased costs for DeFi users and provide an unfair edge to those with greater resources.
About Sorella Labs
Sorella Labs is a crypto startup dedicated to addressing Ethereum’s maximal extractable value (MEV) issue, which involves the profits that validators or bots can gain by manipulating transaction orders within a block. Founded in 2022 by Ludwig Thouvenin and Karthik Srinivasan, both university dropouts who met at the University of Chicago. Sorella Labs has emerged from stealth mode with one of its MEV tools now live, aiming to mitigate practices like front-running, sandwich attacks, and arbitrage that can increase costs for DeFi users and create unfair advantages for those with more resources.
Website: https://github.com/SorellaLabs
About Investor
Investor: Paradigm
Paradigm is a research-driven technology investment firm that focuses on crypto and related technologies at the frontier. Paradigm takes a deeply hands-on approach to help projects reach their full potential. This includes technical aspects such as mechanism design, security, and engineering, as well as operational aspects like recruiting, go-to-market strategies, and legal and regulatory considerations.
Location: San Francisco, USA
Website: https://www.paradigm.xyz/
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