StarkWare Industries, a provider of cryptographic proofs that are zero-knowledge, today announced it has closed a $30 million equity round, led by Paradigm.
New investors include Intel Capital, Sequoia, Atomico, DCVC, Wing, Consensys, Coinbase Ventures, Multicoin Capital, Collaborative Fund, Scalar Capital, and Semantic Ventures. Existing investors Pantera, Floodgate, and Naval Ravikant also participated in the round.
StarkWare commercializes the STARK zero-knowledge proof system. Its co-founders are Prof. Eli Ben-Sasson (Technion), Prof. Alessandro Chiesa (UC Berkeley), Uri Kolodny, and Michael Riabzev.
The StarkWare team is made of experts in zero-knowledge proof systems and engineering, to solve two of the main challenges in the blockchain space: privacy and scalability.
Matt Huang, of Paradigm, will join StarkWare’s board of directors. Paradigm was co-founded by Matt, formerly a partner at Sequoia, and Fred Ehrsam, co-founder of Coinbase.
Earlier this month, StarkWare received $4 million (6,000 ETH) in performance-based bounties from the Ethereum Foundation.
Prior funding in May 2018 saw the StarkWare team complete a $6 million seed funding round.