Data tracking company DappRadar raises $5 million in its first funding round
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Answer Data tracking company DappRadar raises $5 million in its first funding round
Lithuania-based DappRadar, a data tracking company for decentralized applications (Dapps) and blockchain projects, announced Friday that it has raised $5 million in its Series A funding round.
The main investors in this round were:
- Prosus Ventures
- Blockchain.com projects
- NordicNinja VC.
According to showThe startup will use the funding to increase awareness of its brand and launch new products such as the Portfolio Tracker.
DappRadar serves as an app store for decentralized finance (DeFi) projects and non-fungible (NFT) platforms.
DappRadar tracks data from over 5,000 Dapps from over 20 different blockchains.
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Earlier, DappRadar raised $2.3 million in its 2019 initial round to boost research and development efforts.
This seed funding was led by Naspers Ventures, Blockchain.com Ventures and Angel Invest Berlin and is the only funding previously received by DappRadar.
The data-tracking companies sector has witnessed prominent activity in the recent period, as we touched on several news about fundraising, or acquisitions, the latest of which was that the global crypto data aggregator “Coin Metrics” received $15 million in funding from “Goldman Sachs” on May 5, and the blockchain analysis company obtained “Chinalysis” earned $100 million back in March.
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Cryptocurrency giant Coinbase has also taken steps to acquire Skew, a data and analytics company.
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