Decentralized applications (DApps) analyzing startup DappRadar has raised $2.33 million in seed funding and is aiming to boost its R&D and add additional services to its platform.
The funding round was led by Naspers Ventures and participated by venture capital wing of Blockchain.com and Angel Invest Berlin, last week’s announcement detailed.
The investment deal will also put Banafsheh Fathieh, principle and lead investor at Naspers Venture, on the blockchain startup’s board.
“In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer,” Skirmantas Januskas, co-founder and chief executive of DappRadar, said.
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“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.”
Scanning the DApps ecosystem
Per the company, it tracks 2,500 DApps across seven blockchains including Ethereum, EOS, and Tron and has plans to expand this list with the arrival of fresh capital. The company is also planning to add features including the filtering of data to distinguish between fake and relevant activity and to offer market intelligence.
“DappRadar is playing a vital role in bringing trust, transparency, and discovery to the fragmented world of dapps,” Samuel Harrison, managing partner at Blockchain.com Ventures, said.
Blockchain.com also made headlines recently with reports of its plans to raise $50 million for its venture wing. As Finance Magnates reported earlier, the company has already made investments in startups including Origin Protocol, Coindirect, Sliver.tv, and Nodle, and is now eying to back more early blockchain ventures.
“Naspers Ventures’ strategy is to invest in companies and sectors with high, long-term growth potential. Blockchain is beginning to disrupt and revolutionize 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,” Fathieh added.