CHICAGO, IL / ACCESSWIRE / April 12, 2022 / bloXroute, the provider of the first and fastest blockchain distribution network (BDN) that helps DeFi traders on Ethereum, Polygon and BSC, has completed a $70 million Series B funding campaign led by SoftBank Vision Fund 2 with participation from Blindspot, Dragonfly, Flow Traders, Flybridge, GSR, Jane Street, Lightspeed, ParaFi Capital and Rockaway Blockchain Fund.
bloXroute is a global content distribution network for blockchain scalability. The company enables decentralized finance (DeFi) traders to win more trades by providing infrastructure for mempool services and transactions/block propagation. bloXroute's unique network topology offers up to 2 seconds faster block propagation, up to 1 second faster transaction propagation, and 50-400 milliseconds faster transaction discovery (also known as mempool services).
Headquartered in Chicago, the 30 person company provides critical infrastructure for DeFi, which has grown to over $1 trillion in cumulative trading volume in 2021. With a rising demand for peer-to-peer trading, the DeFi transaction volume through bloXroute exceeds $1.5 billion per day.
bloXroute has launched a high-performance Blockchain Distribution Network (BDN), allowing its users to avoid network congestion and reliably receive critical information about buy and sell orders, prices, positions, liquidations, oracle updates almost a t the speed of light.
"We believe that bloXroute holds the key to unlocking faster transaction speeds and reduced latency on multiple blockchain networks", said Aaron Wong, investor at SoftBank Investment Advisers. "bloXroute's global distribution network enables unparalleled transaction settlements for trading and we foresee exciting use cases to emerge in industries such as NFTs, blockchain-based metaverses and gaming. We are thrilled to partner with Uri and the team to help build a blockchain superhighway with uncongested performance."
As part of the fundraising round, Robert Kaplan, Investment Director at SoftBank Investment Advisors will be joining the board.
Uri Klarman, Co-founder and CEO of bloXroute said: "We are thrilled to announce today's significant milestone as we welcome Softbank Vision Fund 2 and other new investors and thank them for this vote of confidence. This investment enables us to expand our team, extend our reach, and continue making the propagation of data more efficient and reliable."
Haseeb Qureshi, Managing Partner at Dragonfly commented: "DeFi has exploded in growth over the last couple of years, but DeFi infrastructure is still in its infancy. We are excited to be in business with bloXroute, and believe this partnership will accelerate mainstream DeFi acceptance and bring real solutions to the DeFi space."
About bloXroute
bloXroute's blockchain distribution network (BDN) allows its customers to hear critical information such as pending transactions and new blocks and send their own trade orders almost at the speed of light. bloXroute's technological superiority is strengthened by its network effect. The more users, traders, mining pools, validators, and DeFi projects connect to the BDN, the faster it becomes by receiving data directly from its source, and the more value it provides to its customers. To date, the DeFi transaction volume through the bloXroute Network is over $1.5 billion a day.
Website: https://bloXroute.com/
Twitter: https://twitter.com/bloXrouteLabs
Medium: https://medium.com/bloXroute
YouTube: bloXroute Labs
Contact:
Guy Talmi
Email: [email protected]
SOURCE: bloXroute