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Ethereum’s layer two protocol, StarkWare has ended its series D funding at $100 million. The announcement was made in a tweet by the company, few hours ago. StarkWare Industries is a layer two Ethereum block protocol, founded on January 1, 2018. Its headquarters is located in Netanya, HaMerkaz, Israel.
StarkWare Attain $8 Billion Quadruple In Six Months
The company is currently valued at $8 billion, following its latest series D funding. The company’s first series funding dates back to Oct. 28, 2018. The series A funding was led by venture capital firms, Sequoia Capital and Paradigm. It added 18 investors and six partners. $30 million was raised.
On March 24, 2021, the company embarked on a Series B funding and successfully added eight investors and seven partners. A huge $75 million was raised. Few months later, the company launched its Series C funding, on Nov. 16, 2021.
The fund closed with $50 million and the company’s total value appreciating from $2 billion to $6 billion. Three investors and two partners were added. The latest Series D funding has led to a $8 billion valuation after closing at $100 million.
Prediction Of A Layer 2-driven Future
An anonymous user on Reddit has given his projection of what the future holds for Ethereum-based assets. According to him, L1 thrived because of an absence of competition, evidenced by attaining the sales phase while competition was still in the development phase.
