ETH Project Optimism Raises $150M and Reaches $1.65B Valuation

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Optimism, a project that is developing a second layer solution for scaling Ethereum, has recently raised $150M in a Series B funding round.

According to the press release, the valuation of the project has exceeded $1.65B following the funding round.

TechCrunch has reported that Andreessen Horowitz (a16z) and Paradigm have taken part in the round. Within a year since the launch of the Optimism mainnet, users have saved $1 billion in transaction fees, according to the developers.

Optimism ranks 4th on L2Beat with a total value locked (TVL) of $440 million.

Optimism raised $25 million in February last year in a Series A funding round led by Andreessen Horowitz.