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The developers of the Ethereum network scaling project called StarkWare announced the successful attraction of $ 100 million in the next round of funding for series D. At the same time, the startup team assured that it received a valuation of $ 8 billion, which is 4 times higher than last year.
According to the assurances of starkWare CEO Yuri Kolodny, he planned to expand the ecosystem of his own project. The businessman stressed that he is pleased with the successful completion of the round, despite all the negative events that have occurred in the cryptocurrency market in the past few weeks. The project, which uses ZK-folding blockchain technology, will continue its development and offer customers innovative products and services in the very near future.
The management of the startup noted that the leaders of the round were Greenoaks Capital, Tiger Global and Coatue. In addition, it was stated that employees of starkWare could sell their own shares of the company during the fundraising campaign.
Kolodny recalled that in November 2021, his firm received a valuation of $ 2 billion, when it raised $ 50 million in the series C round. Back in March 2022, the management assured that it expects a valuation of $ 6 billion, but this figure in the end is 33% higher than stated expectations.
The entrepreneur said that already now his company’s technologies are used by such well-known startups as dYdX, Sorare and Immutable. The new round will expand the range of products throughout the StarkEx and StarkNet ecosystem.
Earlier, the editors of the Crypto.ru reported: the developers of the ZkLend protocol told about attracting $ 5 million in the seed round of financing. The leaders were venture capital funds Delphi Digital, Three Arrows Capital and Starkware. The collected money will be used to develop innovative services, as well as expand the staff of the organization.
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