Dapper Labs secures US$250 million in latest funding round led by Coatue Ventures.
The new funding round also got participation from existing investors a16z, GV (formerly Google Ventures) and Version One Ventures with new investors including BOND and GIC.
Dapper Labs is the team behind some of the highly successful NFT projects like Cryptokitties, NBA Top Shot, and the Dapper Wallet. Additionally, Dapper Labs also operates the Flow blockchain project which aims to be “built to support the next generation of games, apps, and the digital assets that power them.”
Dapper Labs says that its investors believe in the long-term potential of Dapper Labs’ vision, and its blockchain and NFT projects.
Dan Rose, Chairman, Coatue Ventures, said:
“Coatue has been investing in technology trends for over 20 years and web 3.0 is one of the most exciting trends we’ve seen. We think Dapper Labs is a leader in the space at the infrastructure level with Flow blockchain and in the application layer with NBA TopShot.”
Dapper Labs says that it will use the new capital to continue to scale and support major additional brand-driven sports, entertainment and music based products coming online and being developed on the Flow blockchain.
Earlier this month, Google partnered with Dapper Labs in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology. As part of the deal, Google will provide Flow with infrastructure and scaling tools.