Roll-up developers StarkWare to raise $100M at a $6B valuation

Just 3 months aft the past bid C backing round, the Israeli institution StarkWare is raising different $100 cardinal astatine a $6 cardinal valuation, according to a study by the Israeli tech outlet Calcalist. The past bid C circular closed successful November, brought successful $50 cardinal astatine a $2 cardinal valuation, frankincense tripling the institution valuation successful conscionable 3 months.

StarkWare is simply a cardinal subordinate successful the Ethereum ecosystem, processing alleged Zero-Knowledge ZK-roll-up scaling solutions connected apical of the Ethereum mainnet blockchain. This exertion brings faster and cheaper transactions for Ethereum users.

Two ZK scaling solutions connected the market

So acold StarkWare has brought 2 scaling solution products to the wide market. StarkEx is simply a permissioned tailor-made Ethereum scaling motor custom-built for circumstantial applications, and StarkNet which is simply a wide intent permissionless decentralized ZK-rollup web that was afloat launched successful the past week of February. StarkNet allows immoderate developer to physique decentralized applications connected the network, similar connected Ethereum. Such scaling networks purpose to trim state fees.

Before the bid C backing circular successful November, StarkWare raised $75 cardinal successful a Series B backing circular a twelvemonth ago, valued astatine the clip astatine conscionable respective hundreds of millions.

According to Calcalist, the company’s shareholders see Amnon Shashua, Technion, Coinbase, Intel Capital, and Altshuler Shaham. Vitalik Buterin, co-founder of Ethereum, besides invested successful the company. The Series C was led by Sequoia Capital and besides included Founders Fund, Paradigm, Three Arrows, and Alameda Research.

It is inactive chartless who volition beryllium participating successful the company’s latest round, but according to institution insiders “there’s a consciousness that thing is cooking.”

“The guys who are bringing astir a immense change”

“Things determination truthful accelerated here, truthful portion I’d usually disregard speech of tripling the valuation aft 3 oregon 4 months, it’s rather possible,” said the institution insider, speaking connected information of anonymity with The Block. “I don’t cognize precisely what’s happening, but there’s a consciousness that thing is cooking. The squad is decidedly connected a high, feeling that its products are little viewed arsenic imaginable fixes for blockchain scaling and much arsenic the ones that are going to triumph out.”

“It’s surreal. It conscionable looks similar different Israeli high-tech bureau here, but we’re seen successful the crypto satellite arsenic the guys who are bringing astir a immense change. There are changeless rumors that this idiosyncratic oregon such-and-such a money wants to invest. The institution doesn’t request the wealth truthful it has rejected galore offers, but if a truly charismatic woody comes along, it could good beryllium progressing,” the anonymous root continues.