Calcalist reports StarkWare plans to raise $100 million at a $6 billion valuation

The StarkWare project, focused on second-layer scaling solutions, is preparing to close a $100 million financing round at a $6 billion valuation. This was reported by Calcalist.

The Israeli newspaper noted that the company is in the process of fundraising. Other details of the deal were not disclosed.

Speaking on condition of anonymity, one StarkWare employee told the publication that he does not possess specific information, but “nobody would be surprised by yet another high valuation”.

“Surreal. It looks like another Israeli high-tech startup, but in the crypto community they see us as the folks who will bring about big changes. Companies do not need money, so it has already rejected many offers, but if a truly attractive deal arises, it could well take place,” he said.

Founded in 2017, StarkWare offers two products aimed at scaling Ethereum — StarkNet. The former is based on a SaaS model and enables decentralized applications to meet ‘specific needs’. It is used by platforms such as dYdX and Sorare.

The second product is a permissionless solution built on Ethereum using Rollup. It allows developers to create and deploy their own smart contracts, and to interact with other applications.

In November 2021, StarkWare raised $50 million at a valuation of $2 billion.