DappRadar Announces that it has Raised 2.3 Million Dollars in Seed Funding
The leading global platform for analyzing and discovering Dapp, DappRadar, has declared it has raised 2.33 million dollars in seed funding. Further, this investment was driven by a global internet group and one of the most prominent technology investors on the planet, Naspers, through its Naspers Ventures division, along with Angel Invest Berlin and Blockchain.com Ventures.
We're excited to announce DappRadar has raised a $2.3m seed round. It was led by @NaspersVentures with participation from @blockchain's new venture arm. https://t.co/0W5IxEFkME pic.twitter.com/BmOZpsU55j
— DappRadar (@DappRadar) September 5, 2019
DappRadar will utilize the investment principally for research and development, by developing new serviceability to enable the business to extend its service and to reach the next phase of its growth. Additionally, DappRadar tracks more than 2,500 dapps over seven blockchains, which include EOS, Ethereum, and TRON, with plans to extend, separating information from irrelevant and fake action and to provide trustworthy, significant market knowledge.
Moreover, Naspers clarifies that dapps are applications that keep running on P2P computer networks, instead of centralized machines or servers. It states that their code is commonly open source and the core function is taken care of by open-source smart contracts utilized on a blockchain.
The company notes that due to the nature of blockchain technology, a decentralized application’s information is transparent and cannot be messed with, empowering the network to expand over it without needing permission. DappRadar tracks more than 2500 dapps over six blockchains, including Ethereum, EOS, and TRON, with further expansion plans.
The organization screens through dapp information by removing irrelevant and fake activity and gives actionable market insight. Furthermore, Dapps are tracked by their active clients, transaction activity, and token volume to provide knowledge into the trends in the dapp ecosystem. DappRadar has become the initial stage for dapp discovery, and moreover, it acts as a distribution platform for dapp engineers who are targeting new consumers.
DappRadar CEO and co-founder Skirmantas Januskas, says:
In the short time since we founded DappRadar, we’ve seen the technology mature quickly, and its commercial prospects are clearer. 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.
Over and above, Blockchain.com Ventures makes long term investments in organizations utilizing blockchain technology to provide enhanced utility or product differentiation, instead of using crypto as a tool for speculation.
Blockchain.com Ventures is a subsidiary of blockchain and venture capital fund, the leader in providing cryptocurrency products and creator of the world’s most well-known crypto wallet. Precisely, the fund supports and invests in blockchain and cryptocurrency projects that advance the business and give a positive cultural effect. With help from its parent organization, Blockchain.com Ventures is making an open, accessible, and fair financial framework and promote use-cases that are used in finance.
