DappRadar Collects $2.3M Funding from Naspers and Blockchain.com

DappRadar, a global platform for discovering and analyzing decentralized applications (dApps), raised a cool $2.33 million in seed funding from Naspers Ventures, Blockchain.com Ventures, and Angel Invest Berlin. This according to news published by emerging-europe.com, September 11, 2019.



dApp Data is Profitable

DappRadar is the most popular dApps tracker which ranks dApps according to Daily Active Users (DAU), this shows the real popularity of a given dApp and its usability. The service provides data for over 2,500 dApps and allows also to sort them by transaction volume or transaction count, which could be a good indicator of utility/adoption. Currently, DappRadar tracks the data of several different blockchains, including Ethereum, EOS, TRON, IOST, Loom Network, Ontology, and ThunderCore.

The goal of DappRadar was to offer a tool that would allow you to browse an ocean of the most popular, active and usable dApps in existence. In order to achieve this goal, the startup announced a $2.3 million in seed funding round led by Naspers Ventures with participation from Blockchain.com Ventures and Angel Invest Berlin.

According to DappRadar, the funds will be primarily used for research and development, and in development of new functionalities to expand its service offerings. DappRadar is not just a simple dApp listing website. It provides informative insights into the dApp ecosystem. By selecting any dApp on DappRadar you can see lifetime users activity, transactions volume graph, and more information.

Growth Opportunity

The investment represents a big step for further growth as the company joins the Naspers Ventures portfolio which already includes other leading global internet companies such as CodeAcademy, Luno, Udemy and Coins.ph among others. Principal and Early Stage Investment Lead at Naspers Ventures, Banafsheh Fathieh who joined the DappRadar board, commented that Naspers Ventures’ strategy is to invest in companies and sectors with high, long-term growth potential and DappRadar represents an interesting opportunity of growth.

DappRadar CEO and co-founder, Skirmantas Januskas said:

“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.”

Blockchain and dApps analysis tools like DappRadar are growing in the space. Recently launched was a similar tool called CoinTest.ai by a Nairobi-based commercially driven blockchain accelerator called BitHub Africa, which uses machine learning application, for analyzing technical fundamentals of open-source cryptocurrency and blockchain projects