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CryptoKitties Creator Raises $15 Million Investments

15:59 02/11/2018

Dapper Labs, the developer of the popular game CryptoKitties, completed another financing round, during which it managed to raise $15 million and almost doubled its valuation, Bloomberg reports.

 

The investment round was led by the Venrock company. Besides, Google Ventures, SamsungNEXT, Andreessen Horowitz along with the talent agency William Morris Endeavor and aXiomatic, the firms that can be hardly associated with investments, also participated in the financing.

 

The Vancouver-based startup Dapper Labs did not disclose the details and terms of financing, but it is known that its capitalization rose to $27.85 million, and the number of kittens “raised” in the game reached one million.

 

The startup came into the spotlight in 2017 when it released CryptoKitties on the Ethereum blockchain. The company intends to use the gained funds to open a subsidiary in LA, as well as to release new games and entertainment apps running on blockchain.

 

Eventually, the company aims to achieve the same level of popularity in the blockchain sphere as the developer Zynga has in the online gaming sphere, Roham Gharegozolou, the Dapper executive director, stated.

 

According to the head of the startup, everyone believes that CryptoKitties is just about buying cats, but this is only the first step to a broader vision of blockchain possibilities, which will change people's daily lives.

 

As previously reported, the Callaghan Innovation Institute in New Zealand provided a grant to Vimba, a local startup.

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