StarkWare revs up fundraising with $30M round

Israel-based StarkWare announced a $30M Series A round led by Paradigm. The company will use the funds to develop its blockchain privacy and scalability solutions. StarkWare describes itself as "providing cryptographic proofs that are zero-knowledge, succinct, transparent (no need for a trusted setup), and post-quantum secure." In a zero-knowledge proof one party can prove to another that they know a specific value without actually having to do anything more than stating knowledge of the value. That bit of esoterica is core to StarkWare's solution and helped the company raise $6M back in May while adding $30M now. This Series A round was the first investment be led by Paradigm. a venture firm founded by Matt Huang, an erstwhile partner at Sequoia, and Fred Ehrsam, the co-founder of Coinbase. Huang will join StarkWare's board. Sequoia, Coinbase Ventures, and Scalar Capital also participated in the Series A. (Source: StarkWare)