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Ethereum Layer 2 Development Firm StarkWare Closed $50M Series C Financing With A Valuation Of $2 Billion
Summary: According to a report from The Block, StarkWare, an Ethereum layer 2 development firm that uses ZK-rollups technology, raised $50 million in the C round of financing and is now valued at $2 billion. The round was led by Sequoia Capital. Paradigm, Three Arrows Capital, Alameda Research, IOSG Ventures, Founders Fund, etc participated. The C round ...
According to a report from The Block, StarkWare, an Ethereum layer 2 development firm that uses ZK-rollups technology, raised $50 million in the C round of financing and is now valued at $2 billion.
The round was led by Sequoia Capital. Paradigm, Three Arrows Capital, Alameda Research, IOSG Ventures, Founders Fund, etc participated. The C round brings StarkWare's total funding to date to $162 million.
StarkWare's Ethereum scaling engine, StarkEx, has been used by multiple crypto protocols including dYdX, so the company has entered a profitable model, StarkWare co-founder and CEO Uri Kolodny said.
StarkEx has settled more than $200 billion worth of transactions, facilitated approximately 50 million transactions, and provided services to hundreds of thousands of users at much lower gas costs.
The new funds will go forward to develop its team and ecosystem. Regarding future plans, the team will launch StarkNet Alpha on the Ethereum mainnet by the end of this month, which is a decentralized, permissionless, and censorship-resistant ZK-Rollup that supports independent deployment of smart contracts.
By Mary Liu
Tags: Alameda Research,Founders Fund,IOSG Ventures,Layer 2,Paradigm,Sequoia Capital,Starkware,Three Arrows Capital,ZK-rollups
Link: Ethereum Layer 2 Development Firm StarkWare Closed $50M Series C Financing With A Valuation Of $2 Billion [Copy]
