Blockchain Startup DappRadar Raises $2.33M USD In Seed Funding

Blockchain, Investing, News | September 9, 2019 By:

Blockchain startup DappRadar has raised $2.33 million in a seed funding round led by Naspers Ventures. The round also saw participation from Ventures and Angel Invest Berlin.

Founded in 2018, DappRadar is a global platform for discovering and analyzing decentralized applications (Dapps). The platform claims to track 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.

The firm said that the funding will be used for research and development (R&D), developing new functionality to help the business expand its service and reach the next stage in its growth.

“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. “With Naspers Ventures’ international consumer expertise and’s industry knowledge, we are in an excellent position to harness this momentum to expand our business further.”

As part of the investment, 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,” said Fathieh. “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.”