DappRadar raises $2.3 million in funding

DappRadar – a leading dApp analysis platform – has raised $2.33 million in a seed funding round led by global investment firms Naspers Ventures and Blockchain Ventures.

According to a Medium blog post, DappRadar will be using the funds raised primarily for research and developing new functionality to aid in the expansion of its service.

Currently, DappRadar tracks and analyses more than 2,500 decentralised applications (dApps) across seven blockchains including Ethereum, EOS, and Tron.

The dApps on the site are tracked in terms of their active users, token volume, and transaction activity to help provide insights into the trends in the dApp ecosystem.

“In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer,” says Skirmantas Januskas, CEO and co-founder of DappRadar.

“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.”

Banafsheh Fathieh, principal and early stage investment lead at Naspers Ventures, will be joining the DappRadar board.

Speaking on the investment, Fathieh says: “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.”

Interested in learning more about dApps? Discover what decentralised applications are with Coin Rivet’s comprehensive article on the subject.