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Community-led cryptocurrency platform Crypso has raised $3 million (Rs 23.9 crore) in seed funding. The investment platform plans to use the capital to increase its user base and share the platform with crypto creators, merchants and influencers.
Additionally, Crypso is also seeking to expand its product offering and other technological aspects of the platform with funding. The seed funding was raised by several prominent angel investors such as Hashed Emergent, Athera Venture Partners, Whiteboard Capital, CRED founder Kunal Shah, Polygon founders Sandeep Nailwal and Jaynti Kanani.
Crypso acts as a platform for crypto users, merchants, investors, and influencers to interact with each other. Crypso users get a chance to discover and learn about the latest crypto trends by engaging with experts and industry influencers and investing via one-click trading signals on different altcoins generated by crypto experts.
Founded by Suraj Kalwani, Ravi Cherania and Rakesh Raman, this community-focused platform also provides a space for users to immerse themselves in community discussions with their peers and learn the intrinsic details of cryptocurrency trading. The seed funding is expected to support the growth of the platform at scale.
Speaking about the implementation of their platform, Kalwani explained that Crypso helps bridge the “loop of discovery and transactions with a strong hook around managed crypto investing.” “Users can connect with peers and experts, follow the movements of their portfolios, and stay on top of cryptocurrency trends and investment opportunities,” he added in the statement.
Speaking about the seed funding, Kalwani stated, “This seed funding that comes from prominent investors, angel investors, and crypto-focused investors provides us with fuel for growth and fuels our belief towards building a delightful consumer app for India’s growing crypto user base.”
Athera Venture Partners, one of the investors, has teamed up with the three founders of Crypso on their other venture called Truebil, a virtual car marketplace. Speaking about the funding, Rotvik Doshi, Managing Partner, Athera Venture Partners said, “We have been partners with Suraj and the team at Truebil and have seen firsthand their ability to solve complex problem data. Delighted to support them this time with Crypso from day 1.”
Launched in 2022, Crypso immediately struck a chord with crypto enthusiasts. Within a month of launch, the community’s number one platform had attracted over 50,000 users and over 100 crypto creators, influencers, and experts. The platform, which currently runs on Android only, has seen more than Rs crore in trading volumes within weeks of its launch in January.
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