Star D Series – StarkWare is a company that contributes to the scalability of dapps on Ethereum (ETH). With this fundraising of 100 million dollars, it sees its valuation quadrupled, after a recent funding round.
$100 million for scalability on Ethereum
The startup StarkWare announced, the raising of 100 million dollarsin a Series D funding round. This funding round is led by the investment companies Greenoaks Capital and Coatue.
StarkWare was founded in 2017. It provides applications on Ethereum with scaling solutions.
Its website states that StarkWare is able to offer applications of any size, “the same low marginal cost of gas per transaction “. SHARP technology or SHARed Prover used by the two platforms, StarkEx and StarkNet, allows this feat.
Sorare, ImmutableX, and dYdX, are among the well-known blockchain projects in the cryptosphere. They use StarkEx as a scalability engine on Ethereum. StarkNet, on the other hand, is a decentralized application development network.
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Valuation leap: StarkWare increasingly appreciated by developers and investors
This Series D funding round will allow StarkWare to “increase our efforts in product development, engineering and business development”, in the words of the CEO of the startup, Uri Kolodny to the media The Block.
This newly raised capital will also be used to ” develop our ecosystem around StarkEx and StarkNet “.
StarkWare’s valuation now stands at $8 billion. This latest fundraiser quadrupled the startup’s valuation to $2 billion in November 2021. The company had already raised $50 million in a Series C funding round.
Uri Kolodny attempted to justify this significant increase in StarkWare’s valuation. It evokes the growing popularity of the startup. The communities of developers and investors would indeed realize that the latter offers:
“(…) the most comprehensive, powerful, robust, future-proof solution for scaling blockchain and that there is tremendous interest in being part of StarkWare. »
Is StarkWare the ultimate Ethereum layer 2? This einterview with the founder of the startup, Eli Ben-Sassonwill likely be of interest to Journal du Coin readers who want to learn more about scaling issues on the blockchain.
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