StarkWare Reportedly Raising $100 Million at $6 Billion Valuation

Key Insights:

• StarkWare is reportedly raising another $100 million.
• The fresh funding will triple the company’s valuation to $6 billion.
• Just three months ago StarkWare raised $50 million in a Series C round.

StarkWare, an Israeli firm that creates blockchain technology solutions, is anticipated to triple its value, according to reports. 

The company is said to be raising around $100 million, according to Calcalist. However, details pertaining to the investors of the funding round remained undisclosed.

The fresh cash injection, which is yet to be concluded, comes only three months after StarkWare raised $50 million in a Series C funding round to reach a $2 billion valuation.

Furthermore, last year, StarkWare raised another $75 million in its Series B round, which valued it at a few hundred million dollars at the time.

StarkWare’s Next Step

When the firm was valued at $2 billion in November, according to a source who spoke on condition of anonymity, StarkWare considered it to be a remarkable accomplishment.

However, since then, there’s been a whole new level of momentum as per the source. Adding to the same they said,

“NFTs have taken off big time, and the company was ready with efficient minting, plus more and more DeFi inactivity uses STARK technology. StarkNet, which is giving every dev the power to use this scaling solution, has new projects constantly joining.” 

According to the insider, as developers are paying attention to this growth investors are also keeping a close eye on such news.

“And while we haven’t been told that a deal is being made, nobody will be surprised if we arrive at work one morning to be told the value of the company has jumped and there’s a big new investment,” the company insider added.

Ethereum Layer-2 scaling solution

StarkWare is one of the few layer-two scaling methods for Ethereum that has recently increased in popularity, despite the rise in gas costs.

StarkWare’s current investors include the likes of Coinbase, Intel Capital, Amnon Shashua, the Technion, and Altshuler Shaham. Vitalik Buterin, Ethereum’s co-creator, was also one of its investors.

The L2 solution’s StarkEx L2 scalability engine has allowed partners like trading platform dYdX to conduct on-chain transactions in zk-Rollups thanks to its StarkEx L2 scalability engine. The lower fees are achieved by reducing the amount of gas required.