• StarkWare, an Ethereum Layer 2 developer, is soliciting funding at a valuation of $6 billion

  • StarkWare, an Ethereum Layer 2 developer that scales with ZK-rollup technology, is apparently raising money at a $6 billion valuation.

    On Thursday, StarkWare is raising at least $100 million without specifying a source. The article made no mention of who might be investing.

    The current investment round, which has yet to close, comes just three months after StarkWare raised $50 million in a Series C round with a valuation of $2 billion.

    Sequoia Capital led the company’s Series C investment, which included participation from Paradigm, Three Arrows Capital, Alameda Research, and others. Uri Kolodny, co-founder and CEO of StarkWare, said at the time that the company would raise more money in the near future if opportunities occurred.

    StarkWare, situated in Israel, was founded in 2017 and offers two Ethereum scaling products: StarkEx and StarkNet. The former is a permissioned Ethereum scaling engine, whilst the latter is a permissionless decentralized ZK-rollup network that was recently completely released. StarkNet, like Ethereum, enables any developer to construct decentralized applications on the network. The goal of such scaling networks is to lower gas fees.

    The announcement of StarkWare’s second investment round comes as the crypto funding frenzy continues apace and prices skyrocket. This year’s first two months have witnessed record fundraising for businesses in the field.

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