StarkWare Industries, known for its advancements in making blockchain technology more scalable, has announced achieving a significant milestone by securing a staggering $100 million in a Series D funding round. This latest funding round resulted in an impressive valuation surge from $2 billion to an impressive $8 billion, marking a substantial growth since its last fundraising stage in November.
What makes this achievement even more noteworthy is that the substantial nine-figure deal was successfully closed during a challenging crypto bear market, showcasing confidence in StarkWare's capabilities and potential. The funding infusion, which also involved an undisclosed amount of employee stock in a secondary transaction, will be leveraged for various strategic purposes, including product and business development, engineering initiatives, and fostering the growth of the surrounding ecosystem.