BREAKING: StarkWare's valuation quadruples to $8 billion in new funding round (via Yogita_Khatri5)
Ethereum scaling project StarkWare has raised $100 million in Series D funding at a valuation of $8 billion.StarkWare closed the round last week, despite the collapse of the Terra blockchain souring market sentiment.StarkWare, an Ethereum scaling startup that utilizes ZK-rollup technology, has quadrupled its valuation to $8 billion after raising $100 million in a Series D funding round.
When asked what led to the jump in valuation, StarkWare co-founder and CEO Uri Kolodny told The Block in an interview that both developer and investor communities are realizing that StarkWare is offering"the most comprehensive, most powerful, most battle-hardened, most future-proof solution to scale blockchain and that triggers a considerable amount of interest in being part of StarkWare."Founded in 2017, StarkWare offers two key products: StarkEx and StarkNet.
"This round will allow us to expand our effort in product development, engineering and business development and grow our ecosystem around StarkEx and StarkNet," said Kolodny.