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A Lithuanian blockchain startup named DappRadar has recently raised around $2.33 million for its platform dedicated to discovering and analyzing blockchain-based decentralized applications (dApps). As the latest cryptocurrency news show, DappRadar recently announced the closing of a $2.33 million seeding round led by a couple of groups.

First of them was Naspers, a South African based global Internet and media group with participation from Blockchain.com Ventures, which is another venture capital fund and subsidiary of Blockchain.com, as well as Angel Invest from Berlin.

The Lithuanian blockchain startup, which tracks more than 2,500 dApps across seven blockchains (including Ethereum, EOS and Tron) further explained that the investment in DappRadar will be mainly used for research and development and help the business expand further.

As the Lithuanian blockchain startup noted, the investment will be primarily used for research and development – as well as developing new tools which will help the business expand.

“Dapps are tracked in terms of their active users, token volume and transaction activity to provide insight into the trends in the dapp ecosystem. DappRadar has become the starting point for dapp discovery and acts as a distribution channel for dapp developers that are looking to reach new consumers,” the official blog post by the Lithuanian startup on Medium reads.

Many best cryptocurrency news sites talked about Samuel Harrison, who is the managing partner at Blockchain.com Ventures. Harrison recently said that DappRadar is playing a vital role in building trust, transparency as well as discovery to the fragmented world of dApps.

“In the short time since we founded DappRadar, we’ve seen the technology mature quickly and its commercial prospects are clearer,” said Skirmantas Januskas, DappRadar CEO and co-founder. “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.”

All of this will likely help the Lithuanian startup boost its development and attract more users to its blockchain.

As we previously reported in our altcoin news, Blockchain.com has recently partnered with the blockchain interoperability protocol Polkadot with the main aim of integrating its Blockchain Wallet with the Polkadot Network. The integration will purportedly drive the adoption and decentralization of Polkadot tokens.