Optimism, which is an offchain scaling solution for Ethereum, attracted $150 M in a Series B funding round. Investors have valued the project at $1.65 B. Paradigm and a16z led the round.
Related: Optimism Awarded $2 M for a Discovered Vulnerability
A blog post by the company says within a year since its release on the mainnet, Optimism has allowed users to save $1 bln in transaction fees. Developers mentioned they have been working on improvements that would reduce fees by up to 100 times. The project will use the raised capital to expand the team.
Optimism is the 4th on the Ethereum L2 analytics website L2Beat with about $440 M total value locked.
Another solution using optimistic rollups technology, Arbitrum leads the chart with a TVL of over $3 bln.Last year, in February Optimism raised $25M in a Series A funding round.