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Crypto Start-up Stader Labs Raises $4 Million in Funding Round Led by Pantera Capital

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Stader Labs, a crypto start-up, has fundraised $4 million in seed funding round. It was organized by Pantera Capital.

The round witnessed active participation from Jump Capital, Proof Group, Coinbase Ventures, Ledgerprime, Hypersphere, Double Peak Group, Huobi Ventutres, True Ventures and Solidity Ventures.

Numerous blockchain foundations also contributed in the round such as Near Foundation, TerraForm Labs, and Solana Foundation. Angel investors also participated in the round namely Jaynti Kanani, CEO of Polygon; Sandeep Nailwal, COO of Polygon; Diogo Monica, CEO of Anchorage; and Tim Ogilvie, CEO of Staked.

Other participants include Akash Garg, CTO of Afterpay; Harsh Rajat, CEO of EPNS; Chris McCann, GP at Race Capital; Ahmed Al Balaghi, CEO of Biconomy; Aniket Jindal, COO of Biconomy; Nemil Dalal, head of crypto at Coinbase; and Sumit Gupta, CEO of CoinDCX.

Amitej Gajjala, co-founder and CEO of Stader Labs 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 Labs was founded by Sidhartha Doddipalli and Amitej Gajjala in April, 2021. Stader Labs is a cryptocurrency staking management. It focuses on establishing decentralised monetary agreements and applications for systematic stake managements on public block chain networks.

Staking is a technique of earning rewards for owning certain cryptocurrencies, likewise investors deposits money in bank or locks up their assets and earns interest or rewards in exchange.

India welcomed its second crypto unicorn CoinSwitch Kuber on Thursday after getting its first crypto, CoinDCX within two months.

LayerZero, a multi-blockchain omnichannel interoperability protocol firm had raised a $6 million of funding in last month. This funding round was organised by Multicoin Capital and Binance Labs, the venture capital firm.

Singapore-headquartered crypto platform raised $25 million (RS 186 crore) in a Series A fund round in July. It was organised by Peter Thiel, founder of Valar Ventures.

Cryptocurrency is in its higest peak in India, despite of uncertainties. India ranks top three across the world in terms of crypto adaptation, according to an October report issued by Chainalysis, blockchain research firm. They noticed that Indian investors were more mature and capable than Vietnam and Pakistan.