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Dapper Labs secures $15 million investment

CryptoKitties developer will use funds to open US subsidiary led by former Disney and Unity execs

CryptoKitties developer Dapper Labs announced today the successful closure of a funding round worth $15 million.

Led by venture capital firm Venrock -- along with Animoca Brands, GV, and Samsung Next -- the new investment will allow the Canadian company to expand both locally and globally.

Plans include the establishment of a US subsidiary led by former executives from Unity and Disney.

CryptoKitties is reportedly the world's most successful blockchain consumer product, with some items being sold for as much as $114,000.

Since launching in late 2017, the game has seen 3.2 million transactions and tens of millions of dollars move through the platform.

"Our mission at Dapper Labs is to use games and entertainment to bring the values of decentralisation to billions of consumers worldwide," said CEO Roham Gharegozlou.

"This round of financing was about getting the right partners around the table to bring compelling content to the blockchain - and make sure usability and infrastructure allow for adoption by mainstream consumers."

The list of Dapper Labs' previous investors include esports firm aXiomatic, Reddit founder Steve Huffman, and the Andreessen Horowitz Cultural Leadership Fund.

To date, Dapper Labs has raised $27.85 million in investment.

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Ivy Taylor

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Ivy joined GamesIndustry.biz in 2017 having previously worked as a regional journalist, and a political campaigns manager before that. They are also one of the UK's foremost Sonic the Hedgehog apologists.

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