Building on the success of its $30 million Series A round, Starknet has recently disclosed the completion of a closed Series B round, raising a substantial $75 million. StarkWare Industries, known for its innovative scaling and security solutions addressing the constraints of Ethereum's current technology, announced the Series B fundraising initiative in March 2021, with leading support from crypto venture capital firm Paradigm. Paradigm had previously spearheaded StarkWare's $30 million fundraising stage in 2018.
Notable participation in this round came from returning investors such as Sequoia, Founders Fund, and Pantera, while new backers including Three Arrows and Alameda Research also joined the endeavor.
The infusion of funds from this Series B round will empower the project to maintain its momentum, facilitating the recruitment of high-caliber professionals, with a particular focus on developers and product experts.