StarkWare quadruples valuation
The startup has raised about $260 million to date, including a $50 million Series C round at a $2 billion valuation six months ago. Since then, it has quadrupled its valuation. The funding round was led by Greenoaks Capital and Coatue. Tiger Global is also an investor. According to a press release, there is also a secondary transaction to Series D, with employees selling some shares.The funding round was rumored to materialize at a $6 billion valuation back in March. Still, despite the downturn in the crypto market, its valuation has turned out greater.
What is Starkware?
Founded in 2017, Israeli company StarkWare offers two Ethereum scaling products: StarkEx and StarkNet. The first is a permissioned, custom Ethereum scaling engine used by dYdX, Sorare, and Immutable X. While StarkNet is a permissionless, decentralized ZK rollup network that was recently fully launched.StarkWare’s ZK-STARK rollups use zero-knowledge proofs, which preserve privacy by publishing just the time and date; only the recipient can access details about the transaction.
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