DappRadar raises $2.33 Million in seed funding, according to a recent blog post by the company. DappRadar, a platform for discovering and analyzing dapps, has announced that it has raised $2.33 million in seed funding.
The investment was led by Naspers, a global internet group and one of the largest technology investors in the world, through its Naspers Ventures division, with participation from Blockchain.com Ventures and Angel Invest Berlin.
DappRadar will use the investment primarily for R&D, developing new functionality to help the business expand its service and reach the next stage in its growth.
DappRadar tracks over 2,500 dapps across seven blockchains, including Ethereum, EOS and TRON, with plans to expand to others, filtering data to remove fake and irrelevant activity and provide trustworthy, actionable market intelligence.
Dapps are tracked in terms of their active users, token volume and transaction activity to provide insight into the trends in the dapp ecosystem. DappRadar has become the starting point for dapp discovery and acts as a distribution channel for dapp developers that are looking to reach new consumers.
The start of something big
“In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer,” says Skirmantas Januskas, DappRadar CEO and co-founder.
“With Naspers Ventures’ international consumer expertise and Blockchain.com’s industry knowledge, we are in an excellent position to harness this momentum to expand our business further.”
The investment is led by Naspers Ventures, offering further validation of the space as the company joins a portfolio that includes other leading global internet companies. Banafsheh Fathieh, Principal and Early Stage Investment Lead at Naspers Ventures, will join the DappRadar board.
“Naspers Ventures’ strategy is to invest in companies and sectors with high, long-term growth potential. Blockchain is beginning to disrupt and revolutionise a number of key industries and DappRadar has succeeded in creating a strong commercial brand and product in the space. We are excited for our partnership and the opportunity that lies ahead for the company,” says Fathieh.
Blockchain.com Ventures makes long-term venture investments in businesses using blockchain technology to provide product differentiation or enhanced utility, rather than leveraging crypto as a tool for financial speculation.
“DappRadar is playing a vital role in bringing trust, transparency and discovery to the fragmented world of dapps,” says Samuel Harrison, Managing Partner at Blockchain.com Ventures. “We hope to play a role in accelerating their impact on the ecosystem.
Given that DappRadar raises $2.33 Million in seed funding, the future is looking very bright for them!
Naspers is a global consumer internet group and one of the largest technology investors in the world. Operating and investing in countries and markets across the world with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. The group operates and partners a number of leading internet businesses across Asia, the Americas, the Middle East and Africa, and Central and Eastern Europe in sectors including online classifieds, payments and fintech, food delivery, travel, education, health, and social and internet platforms.
Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, ibibo, iFood, letgo, Media24, Movile, OLX, PayU, SimilarWeb, Swiggy, Takealot, and Udemy.
Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent, Mail.ru, MakeMyTrip Limited and DeliveryHero.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).
About Blockchain.com Ventures
Blockchain.com Ventures is a venture capital fund and a subsidiary of Blockchain, the leading provider of cryptocurrency products and creator of the world’s most popular crypto wallet. The fund supports and invests in cryptocurrency and blockchain technology projects that advance the industry and provide positive societal impact. With support from its parent company, Blockchain.com Ventures is helping create an open, fair, and accessible financial system and promote use-cases that are revolutionary beyond finance.