Blockchain Startup From Israel Receives Investments From Intel
American companies Intel Capital and Sequoia took part in the financing round of blockchain startup StarkWare Industries from Israel for a total amount of $30 million, according to a press release.
The startup was founded in 2018 to create software and hardware along with some applications that provide data protection in blockchain and scalability. To this end, the company's specialists have developed a STARK protocol based on evidence with zero disclosure.
StarkWare reported the end of the funding stage led by the Paradigm crypto hedge fund created by Fred Ehrsam, one of the Coinbase founders. Apart from Paradigm, Intel Capital, Sequoia, Consensys, Coinbase Ventures, Atomico, and some other companies made investments in the startup.
In May, a startup has already received investments for $6 million cumulatively from Vitalik Buterin (Ethereum), Arthur Breitman (Tezos), Da Hongfei (NEO), Bitmain, and others.
Intel operates in the blockchain sphere in many ways. For instance, in March 2018, it filed a patent, which aimed to reduce the power amount needed for bitcoin mining. In turn, the venture fund Sequoia Capital has repeatedly invested in startups. In 2017, funds were invested in the crypto hedge fund MetaStable Capital from San Francisco, and in July 2018, Nervos Network, a blockchain startup from China, was financed.
As previously reported, Sirin Labs CEO has invested $1.9 million in the creation of the blockchain institute in Israel.