DAOLens has raised $5 million in pre-seed funding from Nexus Venture Partners, Better Ventures, iSeed II
DAOLens  Team
  • DAOLens has raised $5 million in pre-seed funding from Nexus Venture Partners, Better Ventures, iSeed II.
  • The fundraise also saw participation from angel investors Balaji Srinivasan, Sandeep Nailwal, Raj Gokal, Gokul Rajaram, Kunal Shah, Kunal Bahl & Rohit Bansal.
  • DAOLens’ belief is deeply rooted in the idea that the contributors and communities will be the centre of new economies.
  • With that in mind, the Bangalore-based startup is looking to simplify how DAOs function by creating a suite of tools aimed at facilitating the discovery, onboarding & contribution processes between DAOs & their community members.

DAOs can change the way people work, but joining a DAO can be a complex process, especially for beginners. DAOLens, a DAO onboarding, contribution management & discovery discovery and onboarding startup, is looking to not only simplify the process but also make it more efficient.

With that vision in mind, DAOLens is excited to announce that it has raised $5 million in seed round funding led by marquee web3 investors Nexus Venture Partners, Better Ventures, and iSeed II. Other notable investors from within the web3 ecosystem include Coinbase’s Gokul Rajaram, Polygon co-founder Sandeep Nailwal, Solana co-founder Raj Gokal, the VP of Animoca Brands Simon Doherty & Tribe Capital’s Arjun Sethi. 

DAOLens will be dropping one-of-a-kind, non-transferable non-fungible tokens (NFTs) to a select few investors in the coming days as a token of their gratitude for believing in the long-term vision of the company.

DAOLens Founders
DAOLens Founders
 
Speaking about the fundraise, Vikram Aditya, CEO and co-founder of DAOLens, said, “This successful pre-seed funding round is a testimony to the strength of our project and the belief in the roadmap as well as the team. Simplifying the way DAOs connect with their community addresses a serious challenge that the web3 world faces. 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.”

The pre-seed round also saw participation from angel investors Balaji Srinivasan, Snapdeal co-founders Kunal Bahl & Rohit Bansal, CRED founder Kunal Shah, CEO of Nazara Technologies Manish Agarwal, Softbank’s Vishal Gupta & Narendra Rathi and others.

DAOs mark a seismic shift in the digital ecosystem, similar to the internet and smartphones. Tools are a necessary part of DAOs because they make it easier for users to meaningfully contribute and maintain operational efficiency as DAOs scale with market size potential in billions of dollars. There are currently nearly 5,000 DAOs that operate worldwide, with $9 billion+ assets under management (AUM).

“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. DAOLens’ product-first and customer-obsessed team is operating in a market that is on the cusp of breaking out and we are very excited at the opportunity to work with the team,” said Partik Poddar, a partner at Nexus Venture Partners.

DAOLens was founded in January 2022 by Vikram Aditya & Apoorv Nandan to help DAOs effectively onboard and manage contributors. The fresh funds will be used by the company 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. All three are being used to scale being used by various DAOs. A portion of the funds will also be used to scale business operations in line with the startup’s expansion.

In the views of DAOLens, the DAO ecosystem can be classified into four buckets:

  • Discovery: Make it easier to find DAOs that are relevant to contributors with qualitative insights.
  • Onboarding: Make it easier for contributors to navigate DAO communities & give DAOs visibility on the people joining their community
  • Contribution: Make it easier for contributors to find and perform tasks that fit their profile & help DAOs map tasks to the right contributors, monitor timelines, handle compensation, governance etc.
  • Operation: Make it easier for any beginner DAO or an existing Web2 company to migrate to a DAO structure through playbooks and blueprints around best practices.

The Bangalore-based web3 startup is deeply rooted in the idea that the contributors and communities will be the centre of new economies. That is the biggest underlying promise of Web3. Which is why, DAOs cannot be a mysterious concept that eludes the crypto curious.

About DAOLens:

DAOLens is building for a DAO-first world. It is bringing a simplified and unified perspective to enable companies to metamorph into mature DAOs with personalised & frictionless onboarding as well as seamless community management. The role of DAO Lens is to make DAO members believe that contributing to the vision of decentralisation is simple and DAO-able!





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