StarkWare Industries, which provides solutions to make blockchain technology more scalable, has raised $100 million in a Series D funding round at an $8 billion valuation, up from the $2 billion valuation at its last fundraise in November.
The round was led by investment firms Greenoaks Capital and Coatue with Tiger Global among the other participants, according to a press release provided to CoinDesk. The capital, which also included an undisclosed amount of employee stock sold in a secondary transaction, will be used for product and business development, engineering and growing the surrounding ecosystem, StarkWare CEO Uri Kolodnytold told CoinDesk in an interview.
Significantly, the nine-figure deal closed during a crypto bear market. According to Kolodny, StarkWare and its backers are less focused on the current prices of tech stocks or cryptocurrencies and more focused on “building for the long haul.”
*Coindesk May 25 2022
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