Dapp Data Tracking Company DappRader Closes $5 Million Series A Funding Round

Lithuania-based Dapp (decentralized app) data tracking company DappRadar announced on Friday that it has raised $5 million in Series A funding.

Lithuania-based Dapp (decentralized app) data tracking company DappRadar announced on Friday that it raised $5 million in Series A funding, The Block reported on May 8.

Dapp Data Tracking Company DappRader Closes  Million Series A Funding Round

The primary investors in the Series A round were Prosus Ventures, Blockchain.com Ventures and NordicNinja VC. According to a press release, the startup will use the funding to increase brand awareness and launch new products like Portfolio Tracker.

DappRadar is sort of like an international app store for decentralized finance (DeFi) and non-homogenized token (NFT) platforms. It tracks data from over 5,000 Dapps on more than 20 blockchains, such as Ether and Flow (the blockchain used by leading NFT marketplace NBA TopShot).

As The Block previously reported, to further strengthen its R&D capabilities, DappRadar raised $2.3 million in a seed round of funding in 2019. The seed funding from Naspers Ventures, Blockchain.com Ventures and Angel Invest Berlin was the only previous funding round DappRadar received.

While funding in the cryptocurrency data/analytics/information space has slowed down in the last quarter, the space has still seen some notable deals recently, said John Dantoni of Block Research.

In addition to DappRadar’s $5 million funding round, global crypto data aggregator Coin Metrics received $15 million from a funding round led by Goldman Sachs on May 5, and blockchain analytics firm Chainalysis secured $100 million in funding in March.

In late April, cryptocurrency exchange giant Coinbase also moved to acquire data analytics firm Skew.

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