StarkWare closes USD 30 million equity funding

Tuesday 30 October 2018 10:29 CET | News

Cryptography startup StarkWare has closed a USD 30 million equity funding round led by Paradigm and featuring a number of other major investors.

StarkWare, the company that developed the zk-STARKS privacy feature, is now working to sell the tech. Zk-starks operate by compressing large amounts of data into small proofs (starks) and using zero-knowledge proofs to keep the information private.

StarkWare wants to allow public blockchain networks to add similar privacy to their own protocols. Privacy-focused cryptocurrency zcash already offers a similar zero-knowledge proof system to its users.

The startup declared that Intel Capital, Sequoia, Atomico, DCVC, Wing, ConsenSys, Coinbase Ventures, Multicoin Capital, Collaborative Fund, Scalar Capital and Semantic Ventures backed the startup for the first time, with Pantera, Floodgate and Naval Ravikant adding to previous investments. They also said that StarkWares equity round is the first funding project led by Paradigm.

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Keywords: StarkWare, funding, cryptography, zk-STARKS, startup
Countries: World