DappRadar scales with sizeable funding

DappRadar, the leading global platform for discovering and analyzing dapps, announced on 05 September that it has raised 2.33 million U.S. dollars in seed funding.

DappRadar commenced by informing that Angel Invest Berlin also participated in the seed round. The dapps firm further added that the investment was led by Naspers, a global internet group and one of the largest technology investors in the world, through its Naspers Ventures. Another participation was from Blockchain.com Ventures.

Skirmantas Januskas, DappRadar CEO and co-founder cited – 

“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.”

DappRadar sustained by adding that it would use the investment primarily for R&D, developing new functionality. This would be in a bid to help the business expand the service and reach the next stage in its growth. DappRadar noted that it tracks over 2,500 dapps across seven blockchains, including Ethereum, EOS, and TRON. The dapp firm mentioned its plans to expand to other blockchains. All these features are to foster actionable market intelligence.

DappRadar-will-use-the-investment-primarily-for-R&D,-developing-new-functionality

DappRadar provided insight that dapps are tracked in terms of their active users, token volume and transaction activity. Such activity is to provide insight into the trends in the dapp ecosystem. DappRadar noted that it had become the starting point for dapp discovery. DappRadar maintained that it acts as a distribution channel for dapp developers who are looking to reach new consumers.

Belfrics Group launched its novel range of decentralized applications (dApps) for utilization spanning small businesses to large enterprises. Belfrics Group initiated with its credential as an international blockchain conglomerate based in Malaysia with presence in Kenya, Tanzania, Nigeria, and India. Belfrics Group conveyed that it dealt with everything blockchain, such as blockchain development and blockchain-based-product development for markets.

DappRadar summarized by conveying that the investment was led by Naspers Ventures, which offers further validation of the space. DappRadar noted that Blockchain.com Ventures makes long-term venture investments in businesses using blockchain technology to provide product variety or enhanced utility. This is different from leveraging crypto as a tool for financial speculation.