Crypso Raises $3 Mn In Seed Funding From Hashed Emergent And Others
The company will use the capital to augment the platform's content offerings, partner with crypto creators and influencers, and expand its user base
Community-led investing platform for cryptocurrencies, Crypso, has raised $3 million in seed funding from Hashed Emergent, Athera Venture Partners (formerly Inventus), Better Capital, Whiteboard Capital, Polygon founders Sandeep and Jaynti, Kunal Shah of CRED, and other prominent angel investors.
The company will use the fresh round of funding to grow its user base and increase the breadth of product offerings and technology, said a statement.
Founded in 2022 by Truebil.com founders Suraj Kalwani, Ravi Chirania, and Rakesh Raman, Crypso is a community-focused platform that enables crypto users to learn and discover the latest crypto trends, and invest via one-click trade signals on various altcoins generated by crypto experts.
"Crypto is fundamentally a social asset class and young Indian users actively engage with peers, influencers, and investment communities for crypto updates, analysis, and investment signals. With Crypso, we're bridging the discovery and transaction loop with a strong hook around guided crypto investing. Users can connect with peers and experts, follow their portfolio movements, and stay on top of crypto trends and investing opportunities," Suraj Kalwani, co-founder and CEO, Crypso.
"We are excited to back Suraj and team on their journey to build a user-friendly interface for Indian Web3 users. We like the fact that they are building for the young Indian users who will potentially be the early ones to adopt Crypto in India as we have seen across the globe," said Tak Lee, CEO and managing partner, Hashed Emergent.
Focused on millennials and GenZ users, Crypso claims to be on a mission to simplify crypto and offer guided access to retail users with a community-first approach. Within a month of launch, the android only platform claims to have accumulated over 50,000 actively engaged users and over 100 crypto influencers, creators, and experts who are using the app for daily crypto trends and updates with more than 25 per cent of these users trading via social signals. The platform also witnessed more than 1 crores in trade volumes within a couple of weeks after the launch, said the company.