Crypto firm Stader Labs has announced a successful raise of $12,500,000. The raise was done as part of a private sale, and was led by Three Arrows Capital, with other participants being the now heavy-hitter Blockchain.com, Canadian-based Figment, Accomplice, GoldenTree, and more.
The India-based Stader Labs is now valued at $450M.
Amitej Gajjala, CEO of Stader Labs had this to say in the press release:
This capital will be strategically deployed to accelerate our cross-chain expansion, as well as to nurture our growing ecosystem of third-parties developing staking applications with decentralized Stader infrastructure.
Stader Labs is currently focused solely on Terra Staking, but plans for expansion to offer Solana Staking and ETH Staking are well under way, and funding from the current round will be used in order to continue development work.
Gajjala said the company aims to have $10 billion in assets under management by the end of the year, with the goal of a 1,900% increase from current levels.
In a nutshell, we want to be the AWS for staking infrastructure.
About Stader Labs
Stader Labs is a non-custodial crypto staking platform currently focused on Terra Staking. The company’s Litepaper shows the company’s ambitions in adding 10+ new blockchains for staking.
The crypto staking startup has last raised $4M in October of 2021 during its seed round, which valued the company at $50M. The seed investment was led by Pantera Capital, with other participants being Coinbase, Huobi, Ledgerprime and more.
The objective is to build an economic ecosystem to grow and develop custom solutions such as yield redirection with rewards, liquid staking, launchpads, gaming, and more.
Since Stader Labs launched its platform in November 2021, it has reached impressive milestones that include over 20,000 unique staking wallets, and $500M in Terra staked using its platform.