NBA Top Shot and the Flow Blockchain platform creator Dapper Labs secured $250M in Funding round

Dapper Labs Inc, the company behind the NBA Top Shot and the Flow Blockchain, has now secured $250 million in funding round.

Dapper Labs was founded by Roham Gharegozlou in the year 2018. The blockchain startup is behind NBA Top Shot and the original developers behind the Flow Blockchain. The startup uses blockchain technology to bring NFTs and new forms of digital engagement to fans across the globe.

Dapper Lab’s current studio partners include the Warner Music Group, WNBPA, NBA, Ubisoft, UFC, Genies, and WNBA.

Dan Rose, Chairman, Coatue Ventures, said, "Coatue has been investing in technology trends for over 20 years and web 3.0 is one of the most exciting trends we've seen. We think Dapper Labs is a leader in the space at the infrastructure level with Flow blockchain and in the application layer with NBA TopShot. We continue to be impressed by Roham's strong leadership and vision and we could not be more proud to partner with him and the entire team at Dapper."

Mary Meeker, General Partner of BOND, said, "Blockchain and crypto are foundational underpinnings for the next wave of technology evolution. "With NBA Top Shot and a compelling pipeline of products to come, Dapper Labs is leading the way with the innovative Flow platform. We are excited to be a part of this journey – and its next iterations – with Roham and team."

Coatue led the latest funding round for the blockchain platform provider Dapper. Other participating investors include Google Ventures, a16z, GIC, BOND, and Version One Venture.

The blockchain startup, as of now, has plans to use the new funds to continue to scale and support some of the major additional brand-driven sports, music, and entertainment-based products coming online and being developed on the Flow Blockchain, notes the announcement.