In an advanced communication, Stackr Labs raised $5.5 million in a seed funding round. The successful fundraising was led by Archetype in collaboration with Scalar Capital. Other companies that supported Stackr included Lemniscap, Celestia Labs and Spartan Group.
Also, prominent angel investors including Anurag Arjun, Andrew Keys, and Sreeram Kanan were the key contributors at Stackr’s seed funding round.
Stackr Labs to Support Web2 Developers Build Web3 Apps
According to the announcement the capital generated from the funding round will be used to create an innovative platform to empower more developers seeking to explore the crypto sector.
In the report, the Stackr team anticipates allowing the Web2 developer to effectively create crypto applications and software and generate an income from these developments. The Stackr report demonstrated that the Ethereum scaling firm will create a platform that developers can build on with less requirement.
Compared to the existing tech stacks that require the developer to learn a new programming language to create apps Stackr’s new platform will leverage advanced technology to ease the developer’s work.
A statement from Stackr’s head of business operations Hiten Patel stated that the New Delhi Software development company seeks to offer Web2 developers a platform to create Web3 apps. Patel confessed that the Stackr team plans to develop a unique platform to allow the developers to use the Web3 infrastructures to create decentralized applications.
Stackr Labs Generates $5.5M in Seed Funding Round
Mr. Patel admitted that the critique used in developing the SDK infrastructure aims at onboarding more developers to the crypto sector. In a recent study by the Electric Capital Developer Report, it is estimated there are around 19,279 crypto developers as of October.
The report indicated that the shared figures include full-time and part-time developers. The Electric Capital team noted that the number of crypto developers dropped by 30% from last year.
Beyond this, the funds will be used for upskilling and other related staff training to equip the employees with the necessary skills that meet the market needs.
The Stackr team will focus on optimizing productivity at the workplace. The software development company plans to build a strong team that will create a modular development experience for the user.
Strategic to Onboard More Web3 Developers
Reflecting on the Stackr main objective the software development company anticipates introducing more people to coding and other programming tasks. In an exclusive interview with the chief executive of Stackr Kautuk Kundan confessed that the company seeks to build Ethereum scaling tools powered on micro-rollups.
The CEO confessed that Stackr’s latest development aims to enable developers to use Web2 programming language to build Web3 applications. The executive admitted that by using the Stackr proprietary tools the developers will be able to shape their software according to their preferred use case.
Commenting on the complete seed funding the CEO confirmed that Stackr will poach for new talents to fill the existing career gaps in engineering, business development and research. Reviewing the Stackr future projection Kautuk confesses that the software development company will soon launch a grant program to support developers.