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StarkWare project raises $100 million at $8 billion valuation

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.

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



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