DappRadar, a leading global platform for discovering and analyzing dapps across various blockchains, has raised $2.33M in seed funding led by mega South African investment firm, Naspers Limited, Blockchain.com Ventures, and Angel Invest Berlin.
Naspers is one of the largest technology investors in the world and the largest tech investor from Africa.
Through its Naspers Ventures division, the company is known to have substantial and majority investments in companies like Tencent Holdings (31%), the Chinese holding firm with huge investments across eCommerce and entertainment. Its most popular service is WeChat, the most popular instant messaging platform in China.
According to DappRadar, the seed round will be primarily used for R&D and in development of new functionalities to expand its service offerings.
Currently, DappRadar tracks over 2, 500 Dapps across seven blockchains that include:
The service filters irrelevant activity to provide users with trustworthy and actionable market intelligence.
According to CEO of DappRadar, Skirmantas Januskas:
“In the short time we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects get 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.”
Naspers believes ‘blockchain is beginning to disrupt and revolutionize a number of key industries’ with DappRadar curving ‘a strong commercial brand and product in the space.’ As a result, the company intends to ‘invest in companies and sectors with high, long-term growth potential.’
This is not the first Naspers investment in the blockchain and crypto space. Back in 2015, the company invested $3M into South-African-based Luno Exchange, one of the most popular and successful crypto exchanges in Africa.
Naspers will now join the DappRadar board among other investors.
Investments into blockchain and Dapps analysis tools like DappRadar and the African-based blockchain and crypto analysis tool, CoinTest, shows huge potential for growth in the space.
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