Sequoia capital led the $50 million funding round for starkware, a company developing an ethereum scaling solution. the israeli business has just raised a record $2 billion in its most recent funding round. starknet previously raised $75 million in series b funding headed by paradigm a few months ago.
in spite of competition from alternative blockchains with superior efficiency, investors continue to pour money into infrastructure businesses geared at helping ethereum grow to more users and transaction volume. according to techcrunch, andreessen horowitz was the lead investor in matter labs’ series b investment round earlier this month. lightspeed invested $1.2 billion in offchain labs, a blockchain scaling company, in august.
this year, they made a quarter of all new investments in blockchain businesses. a total of $200 billion has been paid out and 50 million transactions have been completed by the firm. in preparation for the launch of starknet l2 on the ethereum mainnet, starkware is preparing. immutable, dydx, and sorare are among consensys’ customers. investors expect big things from the permissionless blockchain market, says ceo uri kolodny.
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