Cryptocurrency startup Sorella Labs completes $7.5 million seed round

Cryptocurrency startup Sorella Labs has completed a $7.5 million seed round of financing, led by Paradigm with participation from Uniswap Ventures, Bankless Ventures, Robot Ventures, and Nascent. The co-founder and CEO of the startup, Ludwig Thouvenin, stated that the company is building tools to solve the MEV problem at the application layer of Ethereum. MEV refers to validators or robots who profit by reordering, inserting, or reviewing transactions within a block. To help prevent such MEV losses, Sorella Labs is developing two tools: Brontes and Angstrom, with the former already launched today. Thouvenin plans to expand the team by hiring MEV researchers, Rust developers, and system engineers.