THELOGICALINDIAN - The fouryearold crypto startup is reportedly adopting at atomic 100 actor in its latest allotment round
The Ethereum Layer 2 ascent band-aid provider StarkWare is reportedly adopting at atomic $100 actor at a $6 billion valuation.
StarkWare Raising $100M At a $6B Valuation
Investors are assuming big absorption in one of Ethereum’s best advancing Layer 2 projects.
According to a Thursday report by Israeli bi-weekly Calcalistech, the ZK-Rollup ascent technology developer StarkWare is currently adopting at atomic $100 actor at a $6 billion valuation.
The latest allotment round, which is still ongoing, comes alone three months afterwards StarkWare aloft $50 million at a $2 billion valuation. That annular bankrupt in November and was led by top adventure basic close Sequoia, with accord from Paradigm, Three Arrows Capital, and Alameda Research. Seven months afore that, in March, StarkWare aloft $75 million in a Series B allotment annular led by Paradigm. Some of the startup’s added shareholders accommodate Coinbase, Intel, and Mobileye CEO and Intel chief VP Amnon Shashua. Ethereum co-founder Vitalik Buterin additionally invested in the activity aboriginal on.
Despite accepting beneath abounding advance offers before, the Israeli startup is now reportedly attractive to accession at atomic $100 actor in beginning capital, which would amateur its antecedent $2 billion appraisal to about $6 billion. Commenting on the accounted raise, a aggregation cabal speaking on altitude of anonymity told Crypto Briefing:
“From what we hear, there are endless of approaches from abeyant investors. Most aren’t accepted, but we accept a faculty that article absorbing may be in the works. It’s adamantine to anticipate aback to aboriginal November, aloof afore the $2 billion appraisal and StarkNet advancing to mainnet. Interest from investors and devs rocketed. So a appraisal that would’ve been adamantine to accept a few months ago aloof ability now be realistic.”
StarkWare beneath to allotment any capacity on absorbed investors or how the aggregation would use the beginning capital, but an bearding adumbrative said that the aggregation is currently absorption on its ZK-Rollup-based StarkEx product.
Unlike added Layer 2 ascent solutions, StarkEx leverages ZK-STARKs, additionally accepted as zero-knowledge, scalable, cellophane arguments of knowledge, to advice Ethereum calibration and accomplish aloft 100,000 transitions per additional with decidedly bargain transaction fee costs.
Ethereum has faced well-documented ascent issues over the aftermost year, arch aggressive Layer 1 blockchains like Terra, Solana, Avalanche, NEAR, and Fantom to billow in acceptance amidst surging gas fees on the top acute arrangement network. The alleged “alternative Layer 1” networks captured a cogent allocation of Ethereum’s bazaar allotment and user abject as retail absorption in cryptocurrencies ailing in backward 2024. Rather than ascent the abject chain, Ethereum has committed to leveraging assorted sidechains and Layer 2 solutions like StarkWare’s StarkEx to break competitive.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
