Funding Alert

B2B startup DAOlens secures $5 million in the seed funding round led by Nexus Venture

• ByStartupStory     |    June 16, 2022

Nexus Venture Partners led a $5 million (about Rs 39 crore) funding round for DAOlens, a business-to-business (B2B) decentralised autonomous organisation (DAO) service provider. Angel investors Balaji Srinivasan, Sandeep Nailwal, Raj Gokal, Gokul Rajaram, and Kunal Shah joined the round as well as Better Ventures and iSeed II.

The Bengaluru-based startup wants to make it easier for DAOs to operate by developing a set of tools to make the discovery, onboarding, and contribution processes between DAOs and their community members easier.

Vikram Aditya, co-founder and CEO of DAOLens stated that Simplifying the way DAOs engage with their community tackles a serious difficulty that the web3 world confronts. No one can forecast the future with surety, but given how DAOs are evolving, it’s an issue that has to be addressed head-on, and we’re here to do just that.

Aditya and Apoorv Nandan created DAOLens in January, 2022 to assist DAOs in properly onboarding and managing contributors. The current funding will be used for product development, talent acquisition, and the following launch of the company’s suite of solutions.

A discovery portal, a contributor onboarding solution, and community management tools are presently available from the B2B web3 firm. A part of the money will be utilised to expand the company’s activities.

Nexus Venture Partners partner Partik Poddar stated that DAO management tools will play a significant role as DAOs reshape the future of employment. DAOLens is removing the uncertainty around DAOs by establishing a mature strategy for administering DAOs.

 

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