DAOLens has raised $5 million in a seed round funding led by marquee web3 investors Nexus Venture Partners, Better Ventures and iSeed II. The company will use the funds to simplify DAO infrastructure & facilitate adoption.
Investors within the web3 ecosystem included Coinbase’s Gokul Rajara; Polygon co-founder Sandeep Nailwal, and others. The pre-seed round also saw participation from angel investors Balaji Srinivasan, Kunal Bahl and Rohit Bansal, CRED founder Kunal Shah, CEO of Nazara Technologies Manish Agarwal, Softbank’s Vishal Gupta and Narendra Rathi and others.
Vikram Aditya, CEO and co-founder of DAOLens, said, “Simplifying the way DAOs connect with their community addresses a serious challenge that the web3 world faces. No one can predict the future with certainty but given how DAOs are maturing, it is a challenge that is in desperate need of a head-on tackle and we are here to do that.”
Scaling up business
The fresh funds will be used by the company for product development, talent acquisition and to facilitate the subsequent launch of its stack of tools. A portion of the funds will also be used to scale business operations in line with the startup’s expansion.
“DAOLens is helping remove the ambiguity around DAOs by implementing a mature approach to managing DAOs. DAOLens’ product-first and customer-obsessed team is operating in a market that is on the cusp of breaking out and we are excited at the opportunity to work with the team,” said Partik Poddar, a partner at Nexus Venture Partners.
The B2B web3 company currently has three live product offerings – a discovery portal, a contributor onboarding solution and community management tools. All three are being used by various DAOs