Stackr Labs raises $5.5 million in seed round
- Stackr Labs’ $5.5 million seed round was led by Archetype, with participation from a16z CSS, Lemniscap, and Spartan Capital among other VC funds.
- The Ethereum scaling platform will use the funds to boost Web3 app development.
Stackr Labs, an Ethereum scaling platform aimed at advancing dApp development, has secured $5.5 million from investors. Venture capital firm Archetype led the startup’s seed funding round, with participation from a16z CSS, Spartan Capital, Lemniscap, Scalar Capital and Superscrypt among others.
The seed round also attracted investment from angel investors like Anurag Arjun, Sreeram Kanan, Mustafa Al-Bassam and Andrew Keys.
Bridging Web2 to Web3
Stackr indicated in an announcement that it will use the funds to empower developers to build scalable apps. The platform will release a preview of the product for developers, allowing them to test the solution before it goes live.
“For too long, decentralized app development has been reserved for a niche subset of crypto-natives. Our goal is to make it accessible for all – to break down the barriers between Web2 and Web3 by making it easy to build and operate rollups,” Kautuk Kundan, founder and CEO of Stackr Labs, said.
“Instead of putting their entire applications on-chain, we anticipate Web2 applications will prefer a more gradual approach, by decentralizing the specific pieces they want on-chain,” he added.
According to the team, Stackr targets developers and enterprise teams in both the Web2 and Web3 ecosystems, offering its micro-rollup solution to all.
The platform also eyes a grants program that will soon be available to both Web2 and Web3 developers. The goal here is to incentivise building on the platform. The platform is also gearing up to the release of its technical paper that will include Stackr’s architecture and roadmap.
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