Mumbai: DAOlens, a business-to-business (B2B) decentralised autonomous organisation (DAO) service provider, has raised $5 million (about Rs 39 crore) led by Nexus Venture Partners.
Better Ventures and iSeed II also participated in the round along with angel investors including Balaji Srinivasan, Sandeep Nailwal, Raj Gokal, Gokul Rajaram and Kunal Shah.
The Bengaluru-based startup is looking to simplify how DAOs function by creating a suite of tools aimed at facilitating the discovery, onboarding and contribution processes between DAOs and their community members.
“Simplifying the way DAOs connect with their community addresses a serious challenge that the web3 world faces,” Vikram Aditya, co-founder and CEO of DAOLens, said in a statement. “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.”
DAOLens was founded in January by Aditya and Apoorv Nandan to help DAOs effectively onboard and manage contributors. The company will use the latest financing for product development, talent acquisition and to facilitate the subsequent launch of its stack of tools.
The B2B web3 company currently has three live product offerings – a discovery portal, a contributor onboarding solution and community management tools. A portion of the funds will also be used to scale up its business operations.
“As DAOs transform the future of work, DAO management tools will have a very large part to play. DAOLens is helping remove the ambiguity around DAOs by implementing a mature approach to managing DAOs,” said Partik Poddar, a partner at Nexus Venture Partners.
Better Ventures and iSeed II also participated in the round along with angel investors including Balaji Srinivasan, Sandeep Nailwal, Raj Gokal, Gokul Rajaram and Kunal Shah.
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“Simplifying the way DAOs connect with their community addresses a serious challenge that the web3 world faces,” Vikram Aditya, co-founder and CEO of DAOLens, said in a statement. “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.”
DAOLens was founded in January by Aditya and Apoorv Nandan to help DAOs effectively onboard and manage contributors. The company will use the latest financing for product development, talent acquisition and to facilitate the subsequent launch of its stack of tools.
The B2B web3 company currently has three live product offerings – a discovery portal, a contributor onboarding solution and community management tools. A portion of the funds will also be used to scale up its business operations.
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“As DAOs transform the future of work, DAO management tools will have a very large part to play. DAOLens is helping remove the ambiguity around DAOs by implementing a mature approach to managing DAOs,” said Partik Poddar, a partner at Nexus Venture Partners.
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