DappRadar Announces $2.3M Seed Funding Led By Naspers And Blockchain.com
The investment will be primarily devoted to R&D.
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DappRadar, a platform which lists leading dApps by popularity and usage, has announced the completion of its seed funding round, raising $2.33M.
The round was led by Naspers, a major worldwide technology investor. Blockchain.com Ventures and Angel Invest Berlin also participated.
The funding will be used primarily for R&D, developing new features to expand the business and reach a new growth stage, leveraging the experience acquired so far. “In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer,” said Skirmantas Januskas, DappRadar CEO and Co-Founder.
DappRadar currently tracks over 2,500 dApps across seven blockchains, including Ethereum, EOS, TRON and others. In addition to curating its rankings, the company removes fake and irrelevant activity, in order to provide actionable and trustworthy information to its target users.
The platform reports on dApps’ active users, token volume and transaction activity over time, allowing users to analyze dApp trends and compare them between various platforms. For dApp developers, the site is a way of reaching out to customers who could be interested in their projects.
The investment from Naspers and Blockchain.com represents an important step for the company, and the benefits are not just financial. “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,” Januskas said.
Naspers holds an impressive portfolio of supported companies, including Avito, SimilarWeb, OLX, Udemy and many others. The investment in DappRadar represents one of Naspers’ first investments in the blockchain field.
Banafsheh Fathieh, Principal and Early Stage Investment Lead at Naspers Ventures, explained their rationale for the decision. “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,” said Fathieh, who has been nominated as board member on DappRadar.