(Duplicated) StarkWare Industries Raised $100M in Series D round, Quadrupling its Valuation to $8B

StarkWare Industries announced a $100 million Series D round led by Greenoaks Capital and Coatue, quadrupling its valuation to $8 billion.

StarkWare was founded in 2018 and is headquartered in Netanya, HaMerkaz, Israel.

StarkWare Industries develops a full-proof stack for generating and verifying proofs of computational integrity in the blockchain.

The D-round financing comes 6 months after the last C-round financing, which was valued at $2 billion at that time. After the completion of this financing, StarkWare quadrupled its valuation to $8 billion.

StarkWare Industries has raised a total of $273M in funding over 6 rounds. Their latest funding was raised on May 25, 2022, from a Series D round.

The company has also developed math-based systems that can use blockchain more efficiently, called STARKs.

The system reduces fees by shrinking the amount of information on the blockchain and accelerates transactions by mitigating severe blockchain congestion.

The company claims that:

"The math-based technology we've rolled out, known as STARKs, will serve businesses and the crypto community through thick and thin. We're encouraged that VCs are signaling their strong support, even in the midst of a bear market."

StarkWare's first platform, StarkEx, processed over $5 trillion in transactions, more than Bitcoin.