Founded in 2017 by Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun, the blockchain startup attracted top investors like Mark Cuban, SoftBank, Tiger Global, and Sequoia Capital. However, the euphoria has since waned.
The migration represents a significant shift for Celo, which originally launched as an independent layer-1 blockchain in 2020. By adopting the OP Stack—a framework designed for building layer-2 networks—Celo aims to improve transaction speed and cost efficiency while inheriting Ethereum’s robust security and decentralization.
The integration comes at a time when Bitcoin’s role in decentralized finance (DeFi) is gaining traction. Despite being the foundation of the crypto industry, Bitcoin’s DeFi ecosystem remains in its early stages.
This collaboration will utilize Chintai’s white-label Layer 1 blockchain technology to enhance the funding and management of sustainability initiatives across multiple sectors.
The funding sets Analog’s fully diluted valuation (FDV) at $300 million as the company prepares for its upcoming Token Generation Event (TGE).
