DaoLens raises undisclosed sum in funding from CoinDCX cofounders, 35 others

Last month,
the startup raised $5 million (about Rs 39 crore) in funding led by Nexus Venture Partners, along with participation from angel investors like Balaji Srinivasan, and Polygon’s cofounder Sandeep Nailwal.

The latest funding is an extension of the previous round, the company said.

Founded by Vikram Aditya and Apoorv Nandan in January, DaoLens is a Web3 startup eyeing to simplify how DAOs function through a suite of tools aimed at facilitating the discovery, onboarding, and contribution processes between DAOs and their community members.

“To build a DAO-first world, we need to simplify the way DAOs operate – in terms of contribution and management. DaoLens wants to solve the fundamental bottlenecks in the system so DAOs can become mainstream and a sustainable option for companies in the long run,” Aditya said in a statement.

The startup will be dropping one-of-its-kind, non-transferable non-fungible tokens (NFTs) to a select few investors today, it said.

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Coinbase board member Gokul Rajaram, who is also an investor in the startup said, “DaoLens is looking to solve a host of problems – from discovery to onboarding to meaningful contribution and effective operations – to help create a DAO-first world.”