The StarkWare project, which specializes in second-level scaling solutions, has completed a $100 million Series D funding round. Investors have valued the company at $8 billion.
We are excited to announce our $100 million Series D at a valuation of $8 billion.
We would like to thank Greenoaks and Coatue – our lead investors, Tiger Global, and many of our existing investors for their confidence in the technology, products and ecosystem we are building. pic.twitter.com/0R1e1h31HK
— StarkWare (@StarkWareLtd) 25 May 2022
The round was led by venture capital firms Greenoaks Capital and Coatue. Financing was also provided by the company’s new and existing investors, including Tiger Global. As part of the deal, StarkWare employees had the opportunity to sell their shares.
Founded in 2017, StarkWare offers two products focused on scaling Ethereum, StarkEx and StarkNet. The first is based on Software as a Service-Models and enables decentralized applications to meet “special needs”. It uses platforms like dYdX and Sorare.
The second product is a permissionless solution on top of Ethereum based on Rollup. It allows developers to create and deploy their own smart contracts and interact with other applications.
The company will use the funds received from investors to expand its product line, develop business and create an ecosystem around StarkEx and StarkNet. StarkWare also plans to increase the headcount.
Recall that in November 2021, the project raised $ 50 million at an estimated $ 2 billion – since then the second figure has quadrupled.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.