Dapper Labs Closes $250M Round, Bit2Me ICO Raises $23.4M

Dapper Labs’ funding received investment from Coatue, Andreessen Horowitz, GV (formerly Google Ventures) and Version One Ventures along with new investors including BOND and GIC.

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Source: Dapper Labs

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key takeaways

  • “Dapper Labs will use the new funding 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,” the company said
  • Technological financial services crypto-based company Bit2Me closed its third phase of its initial coin offering (ICO) in just 38 seconds, the company said on Wednesday

Dapper Labs, the creator of CryptoKitties, NBA Top Shot and the Flow blockchain, has closed a $250 million round in new funding led by Coatue, the company announced Wednesday. 

The new round brings together established investors from Andreessen Horowitz (a16z,) GV (formerly Google Ventures) and Version One Ventures along with new investors including BOND and GIC.

“Dapper Labs will use the new funding 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,” the company said. 

The company’s Flow blockchain consists of over 500 developers and more than 100 known projects of decentralized applications for games, NFTs, DeFi and tools, according to its website. Flow also is launching UFC, or Ultimate Fighting Championship, digital collectibles for users to buy, sell, trade and collect on its blockchain, however a date for that was not disclosed. 

This year has shown exponential growth for Dapper Labs. While beta testing its flagship product NBA Top Shop, it grew 30 times during the year, with over $780 million in collectibles bought and sold across 13 million transactions and over 1.1 accounts registered, the company said.

While Dapper Labs has grown quickly, its CEO Roham Gharegozlou said it has just scratched the surface of what the technology can do for users. The company will scale NBA Top Shot, launch new titles and improve the ecosystem building on its Flow blockchain, Gharegozlou said. 

In March, Dapper Labs raised $305 million in funding, also led by Coatue. At the time, existing strategic investors included a16z, The Chernin Group, Union Square Ventures, Version One and Venrock also participated alongside Michael Jordan, Kevin Durant and other National Basketball Association players, Blockworks previously reported. 

Spain-based Bit2Me closes initial coin offering

Technological financial services crypto-based company Bit2Me closed its third phase of its initial coin offering (ICO) in just 38 seconds, the company said on Wednesday. In total the Spain-based company raised about $23.4 million, or €20 million.

It raised about $20.5 million, or €17.5 million, in less than three minutes across three public sale phases that took place throughout September. The company also raised $2.9 million, or €2.5 million, from an earlier private sale, it said.

“As of November 1, our tokens will be available for purchase, like any other cryptocurrency, on Bit2Me, Bittrex, and increasingly on more platforms,” said Abel Peña, chief revenue officer at Bit2Me. 

Bit2Me offers over 20 solutions to buy, sell and manage virtual currencies and euros from a single place. Since its inception in 2015, it has expanded to clients across 100 countries and manages operations worth about $1.2 billion.


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