Stader Labs Raises $4 Million In a Round Led By Pantera Capital

• ByManjeet Singh     |    October 8, 2021

Stader Labs Raises $4 Million, In a seed funding round, Stader Labs, an India-based crypto staking project, raised $4 million. In addition to Pantera Capital, Coinbase Ventures, True Ventures, Jump Capital, Huobi Ventures, TerraForm Labs, Solana Foundation, Near Foundation, and others participated in the round.

Several angel investors, including Anchorage CEO Diogo Monica, Coinbase head of crypto Nemil Dalal, Staked CEO Tim Ogilvie, Polygon CEO Jaynti Kanani, Polygon COO Sandeep Nailwal, CoinDCX CEO Sumit Gupta, and Biconomy CEO Ahmed Al Balaghi, also backed the round.

Stader Labs raised the funds through the sale of SAFT tokens, its co-founder and CEO Amitej Gajjala told The Block. According to him, the new funds will help the company expand its team, add support for more blockchains, and promote its platform.

In the near future, Stauder plans to serve institutions in addition to retail customers. The company also plans to develop API staking apps for exchanges and fintechs.

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