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Vancouver-based Blockchain Company Dapper Labs Raising Major New Investment Funds (a Reported $250 Million at $2B Valuation)
Thursday, February 18, 2021Company Profile | Follow Company
Vancouver, BC, February 18, 2021--(T-Net)--Vancouver-based Dapper Labs, the Vancouver-based company responsible for digital collectibles platform NBA Top Shot, the Flow blockchain and CryptoKitties, is reportedly raising new funds that could net the firm more than $250 million at a valuation of about $2 billion, according to The Block, which cited sources familiar with the deal.
The funding round is being led by Coatue Management, according to the report.
Other sources indicate that Dapper may have already closed an initial tranche of bridge financing (unconfirmed), as part of this round.
The round comes amid a period of rapid growth for the company's NBA Top Shot NFT product.
The company most recently announced that it closed $12 Million in new financing in August 2020.
Investors in that round included NBA players Andre Iguodala (Miami Heat), Spencer Dinwiddie and Garrett Temple (Brooklyn Nets), JaVale McGee (Los Angeles Lakers), and Aaron Gordon (Orlando Magic). Other new investors in that round included Coinbase Ventures, Distributed Global, Valor Capital Group, A.Capital, BlockTower Capital, Blockchange Ventures, EONXI Ventures, Reed Company, Greenfield One, North Island Ventures, Republic Labs, L1 Digital AG and Pirata Capital.
Existing investors participating included Samsung NEXT, Andreessen Horowitz including their Cultural Leadership Fund, Union Square Ventures, Venrock, Accomplice, Animoca Brands, and AppWorks, among others.
About Dapper Labs
Dapper Labs is the company behind CryptoKitties and the Flow blockchain as well as titles like NBA Top Shot. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to fans around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves. Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group, Ubisoft, and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. Visit www.dapperlabs.com.
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