This archive report was first published on 6 September 2019.
On September 6, 2019, Naspers' investment arm, Naspers Ventures, made a significant move in the blockchain space by investing $2.33 million in Lithuania-based DappRadar, a global platform for discovering and analyzing blockchain-based decentralized applications.
The investment, led by Naspers, also saw participation from Blockchain.com Ventures and Angel Invest Berlin. DappRadar plans to use the funds primarily for research and development, aiming to expand its service and reach the next stage in its growth.
Skirmantas Januskas, DappRadar's CEO and co-founder, expressed his excitement about the partnership, stating, “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 tracks over 2,500 decentralized applications across six blockchains, including Ethereum, EOS, and TRON. The platform provides actionable market intelligence by filtering through dapp data, removing fake and irrelevant activity, and offering insights into trends in the dapp ecosystem.
As part of the investment, Banafsheh Fathieh, Principal and Early Stage Investment Lead at Naspers Ventures, will join DappRadar's board. Fathieh emphasized Naspers Ventures' strategy of investing in companies with high, long-term growth potential, stating, “Blockchain is beginning to disrupt and revolutionise a number of key industries, and DappRadar has succeeded in creating a strong commercial brand and product in the space.”
Blockchain.com Ventures, which participated in the investment, focuses on backing businesses using blockchain technology to provide product differentiation or enhanced utility. Samuel Harrison, Managing Partner at Blockchain.com Ventures, noted, “DappRadar is playing a vital role in bringing trust, transparency, and discovery to the fragmented world of dapps.”
