Web3 startup DAOLens raises $5 million led by Nexus Venture Partners, Better Ventures, and iSeed II

Web3 startup DAOLens has raised $5 million led by Nexus Venture Partners, Better Ventures and iSeed II. Others including Coinbase’s Gokul Rajaram, Polygon co-founder Sandeep Nailwal, Solana co-founder Raj Gokal, the VP of Animoca Brands Simon Doherty, and Tribe Capital’s Arjun Sethi also participated in the round.

The 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.

DAOLens was founded in January 2022 by Vikram Aditya & Apoorv Nandan, which aims to simplify the process of operating a decentralised autonomous organisation (DAO) by helping businesses with onboarding, contribution management & discovery. DAOs are an essential part of Web3 and many Web2 businesses as well, and DAOLens is looking to make these DAOs more efficient for them.

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.

Speaking to Moneycontrol, Vikram Aditya, co-founder and CEO of DAOLens, said that it will be a monthly subscription model and the pricing would depend on the size of the community. However, it would range  $600-2000, a month. But, the plans can be customised depending on the need of the community.

Aditya added that the startup will help Web3 users to discover DAOs on its platform but its monetary avenues will remain from businesses.

The startup currently has three live products- a discovery portal, a contributor onboarding solution and community management tools.

“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.