According to BlockBeats, Bitcoin analysis startup Rebar has successfully raised $2.9 million in a seed funding round. The round was led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital, and UTXO Management.
The newly acquired funds will be used to develop the company's first Bitcoin-based MEV product. Rebar is reportedly working on an alternative to public memory pools, which will allow miners to better organize transactions. In addition to private memory pools already deployed on chains like Ethereum, Rebar aims to protect information from front-running MEV bot attacks by avoiding broadcasting information across the entire network. The startup also plans to build data products and dashboards.
This funding round marks a significant milestone for Rebar as it continues to innovate in the Bitcoin analysis space. The company's focus on creating an alternative to public memory pools and its plans to build data products and dashboards demonstrate its commitment to improving transaction organization and information security in the cryptocurrency sector.
