Stader Labs Raises $4 Million In A Seed Funding Round

Stader Labs Founders: Sidhartha Doddipalli and Amitej Gajjala
Indian Startup News

Cryptocurrency staking management platform Stader Labs has raised $4 million in a seed round led by Pantera Capital, with participation from Coinbase Ventures, Jump Capital, True Ventures, and Ledgerprime.

The funding round also saw participation from Prominent angel investors, including Jaynti Kanani (CEO at Polygon), Sandeep Nailwal (COO at Polygon), Ahmed Al Balaghi (CEO at Biconomy), Aniket Jindal (COO at Biconomy), Nemil Dalal (Head of Crypto at Coinbase), Sumit Gupta (CEO at CoinDCX), and Harsh Rajat (CEO at EPNS).

Stader Labs

Started by Sidhartha Doddipalli and Amitej Gajjala, Stader Labs is a cryptocurrency staking management platform building decentralized financial protocols and applications for efficient stake management on public blockchain networks.

Stader Labs is on a mission to bring sustainable staking yields from digital assets to 1Bn+ users. The startup plans to accelerate product development across multiple blockchains and marketing efforts geared toward a global crypto audience.

Stader Labs Founders

Speaking on the development, Amitej Gajjala said,

“Through Stader, we hope to empower crypto-asset staking throughout the financial sector, making it easy and intuitive for investors to stake assets and generate returns.”

Stader aims to be the distribution layer of staking while building protocols and products which enhance the security, decentralization, liquidity, governance of some of the major DPoS blockchain networks like Ethereum, Terra, Polygon and Solana.

With its product currently in use on Terra’s blockchains, the startup is building an MVP on Solana. Stader Labs plans to build native smart contracts for staking on multiple blockchains, including Near, Polkadot, Ethereum, and Matic, with aims to cover five to six PoS blockchains over the next year.

The startup also plans to launch products and features to assist users in maximizing their staking returns with greater ease.

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