Dapp data tracker DappRadar raises $5 million in Series A funding

DappRadar, a Lithuanian data tracking company for decentralized applications (Dapps), announced Friday that it raised $5 million in Series A funding.

Lead investors in this Series A round were Prosus Ventures, Blockchain.com Ventures, and NordicNinja VC. According to the release, the startup will use the funding to boost its brand awareness and launch new products like its Portfolio Tracker.

DappRadar acts as an international app store for decentralized finance (DeFi) and non-fungible token (NFT) platforms. It tracks the data of over 5,000 Dapps from more than 20 blockchains such as Ethereum and Flow — the blockchain behind the leading NFT marketplace NBA TopShot.

As The Block previously reported, DappRadar raised $2.3 million in its 2019 seed round to boost its research and development efforts. This seed funding from Naspers Ventures, Blockchain.com Ventures, and Angel Invest Berlin was the only funding DappRadar received prior. 

While funding for crypto data/analytics/information was lower this past quarter, according to The Block Research's John Dantoni, this sector saw some notable deals recently.

In addition to DappRadar's $5 million, global crypto data aggregator Coin Metrics received $15 million in funding from Goldman Sachs on May 5 and the blockchain analysis firm Chainalysis earned $100 million back in March.

Crypto exchange giant Coinbase also made moves to acquire Skew, a data and analytics firm, in late April.