A review of the Latest Fundraising Rounds insights by DropsTab

Table of Contents

Introduction

Dropstab.com is a website focused on the cryptocurrency market, providing data-driven insights into projects in the crypto market. The site includes services such as market analysis, curated watchlists, and portfolio management capabilities.

Recently, Dropstab.com launched a new feature within its ‘Insights’ section titled ‘Latest Fundraising Rounds.’ This page presents comprehensive, up-to-date information about fundraising rounds conducted by various crypto startups, making it a valuable resource for investors, entrepreneurs, and crypto enthusiasts.

This review will evaluate the ‘Latest Fundraising Rounds‘ page, examining its predefined filters, table columns, filter options, dataset size, and data accuracy. We aim to provide a detailed overview of the functionality and usability.

Filtering Options 

The fundraising page offers several filters to streamline data navigation, either pre-defined or custom filters the user can set. 

Predefined filters

The following filters are predefined and located above the table for quick access.

1. All: This default setting presents the entirety of the available data.
2. Top 300: This filter highlights the top 300 crypto startups based on their market cap.
3. Tier 1 funds: A filter focusing on projects backed by the most reputable investors.
4. Projects with Token and Projects with no Token: These filters allow users to sift through the data based on whether a project has an associated token.
5. Largest Rounds: Here, users can quickly identify the projects with the highest fundraising amounts.
6. Top Twitter Score: This filter surfaces the projects generating the most buzz on Twitter, sourced from TweetScout.io 

In addition, a toggle labelled ‘Show small rounds‘ enables users to decide if they want to view smaller fundraising rounds, offering further customisation of the dataset.

These predefined filters add value by enabling quick, tailored access to the vast information in the table.

Custom filters

The custom filters are accessible via the small icon on the right top of the table and allow users to make a selection based on these data points:

1. Funds Raised: Allows users to filter projects based on the funds raised.
2. Pre-Valuation: Let users explore projects’ financial status before their fundraising rounds.
3. Stage: Gives users the option to focus on projects at specific stages of their fundraising journey.
4. Lead Investors and Investors: These filters can trace investment patterns or identify potential competing investors.
5. Twitter Score: This filter offers insights into the social media popularity of the projects.
6. Categories: Helps users to focus on projects within specific sectors or fields of interest.
7. Announce Date: Useful for keeping track of recent fundraising rounds or conducting historical analysis.

These custom filters enhance the table’s versatility, empowering users to tailor their data exploration to their specific needs and interests.

One area for improvement in the filtering option in the table is that you cannot use the search function. If you have a specific project in mind where you would like to find the fundraising information, you can’t do that with the current table. The only way to find this is by searching for it across the website. This is a missed opportunity for the user experience of the table.

The Dropstab Fundraising Rounds Dataset

The fundraising page on Dropstab.com manages an impressive dataset consisting of 3,460 projects at the time of this review. This dataset’s scope signifies the platform’s comprehensive nature, highlighting its capability to cover a broad spectrum of the cryptocurrency market. The extensive list of (lead) investors for each project, such as a16z (Andreessen Horowitz), is evidence of the vast amount of data Dropstab.com has accumulated, ensuring users have a lot of information at their fingertips.

However, while the large dataset size demonstrates thorough coverage, it also poses potential challenges related to information overload. Despite these challenges, the extensive filtering options efficiently navigate this complexity, ensuring users can quickly refine and digest the data. 

The detailed categorisation of each project further enhances this aspect, ranging from generic labels such as ‘cryptocurrency’ and ‘Ethereum ecosystem‘ to more specific ones like ‘Coinlist Launchpad’. Thus, the platform balances its dataset’s size with user-friendly functionalities, creating an effective and valuable resource for those interested in the cryptocurrency market.

How accurate is Droptab’s Fundraising data?

We conducted a series of tests to evaluate the accuracy of the data provided by Dropstab.com’s ‘Latest Fundraising Rounds’ page.

Test 1: Silent Protocol 

Our first test involved cross-referencing the reported fundraising data for the Silent Protocol project. Dropstab’s table indicates that the project raised $5.00M, a figure corroborated by multiple online sources, including a funding round led by Sora Ventures. Therefore, we can confidently say the information provided by Dropstab in this instance is accurate.

Test 2: Enigma (ENG)

The next test targeted the Enigma (ENG) project. By applying the filters to locate projects up to 18-09-2017, we identified an entry for Enigma’s ICO, reporting a total of $25 million raised. However, other data aggregators such as Cryptorank and ICOdrops and a Coindesk article discussing an SEC settlement suggest a significantly higher figure of $45 million. This discrepancy means the data provided by Dropstab for the Enigma project is inaccurate.

Test 3: FTX token (FTT)

We examined the infamous FTX Token (FTT) data in the final test. Updating the date filter to cover the period of 2020-2021, we found an entry indicating FTX Token raised $900 million in a Series B round in July 2021. Interestingly, Crunchbase reports a higher figure of $1 billion raised during the same period. However, multiple press releases back up Dropstab’s figure, suggesting that, in this case, the data from Dropstab appears accurate.

Conclusion of the data test

Our tests suggest that Dropstab.com’s ‘Latest Fundraising Rounds’ page offers predominantly accurate data on cryptocurrency fundraising. In examining three distinct entries, we found only one discrepancy – a testament to Dropstab’s reliability as an information resource.

Final Verdict

Dropstab.com’s ‘Latest Fundraising Rounds‘ page is a robust and reliable tool for anyone interested in cryptocurrency fundraising. The vast dataset and diverse filters significantly enhance user experience, providing tailored insights quickly.

Yet, there’s room for improvement, most notably by adding a search function. This would allow users to locate specific projects effortlessly.

While our accuracy tests showed generally positive results, it’s worth remembering that all data sources can have discrepancies. We found that even prominent platforms like Crunchbase can occasionally get it wrong. Therefore, users should always cross-verify information from multiple sources when making investment decisions. Despite this, Dropstab.com remains a valuable resource for insights into the dynamic world of cryptocurrency fundraising.