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Intel Capital, Sequoia Back Blockchain Startup StarkWare in $30 Million Round

The Israel-based startup develops technology for blockchain-related privacy and scalability issues

CTech 17:0629.10.18
Israel-based blockchain startup StarkWare Industries Ltd. announced on Monday the closing of a $30 million series A investment. The round was led by Paradigm, a new fund set up by cryptocurrency investors Matt Huang, formerly a partner at Sequoia Capital, and Fred Ehrsam, co-founder of Coinbase. Coinbase, Sequoia Capital, and Intel Capital also participated in the round, which brings StarkWare’s capital funding to $36 million.

 

Founded earlier this year by UC Berkeley researcher Alessandro Chiesa, Eli Ben-Sasson and Michael Riabzev of the Technion Israel Institute of Technology, and CEO Uri Kolodny, StarkWare develops technology for blockchain-related privacy and scalability issues based on zero-knowledge proof, a mathematical tool developed in the 1980s. The company employs 16 people in central Israeli city Netanya.

 

Cryptocurrency. Photo: Coin/Flick Cryptocurrency. Photo: Coin/Flick

 

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