GoSats Raises $4 Mn To Enhance Their Bitcoin Rewards Program Last year, the startup announced a seed funding of $700,000 and was a winner in the Binance Build for Bharat Hackathon

By Soumya Duggal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

GoSats, a crypto on-ramp platform, has secured a $4 million raise from multiple private investors in their pre-Series A funding round.

The funding round was conducted with an aim to scale up and enhance GoSats' operations to a higher level, and thus the funds will essentially focus on acquiring resources that enables GoSats to magnify their exclusive bitcoin rewards program, build crypto rewards as an API service for brands to seamlessly offer crypto assets as loyalty points and develop a strong and talented workforce with effective hiring, said a statement.

"We are happy to be supported by some fantastic forward-thinking investors that understand and believe in the future that we envision would make a better world. When we launched last year, our goal was to build a gateway to bitcoin adoption without any risk to the user. Having personally worked with 2 crypto exchanges, I don't believe exchanges are the answer to mass crypto adoption and awareness especially in a country like India where people prefer simplicity and are risk-averse," said Mohammed Roshan, CEO and co-founder, GoSats.

GoSats was part of the first cohort of Atoms - a program by Accel to support pre-seed startups with $250,000 in non-dilutive capital, mentorship from founders and operators, and a community to help them grow.

"We are delighted to see GoSats, part of Accel Atoms, raise its next round of funding to grow and scale. Both Roshni and Roshan understand the Indian blockchain and cryptocurrency space well and recognize the steep learning curve they pose to the first-time user. With GoSats, they aim to flatten that curve and to provide India with the simplest gateway to Bitcoin to be able to participate in a new generation of financial innovation," said Dinesh Katiyar, partner, Accel.

GoSats enables a low-friction way to accumulate bitcoin when people shop from over 250 brands listed on the platform, including Flipkart, Nykaa, Swiggy, BigBasket and Myntra. It aims to help consumers become passive investors by earning the most appreciating asset of the past decade. Last year, GoSats announced a seed funding of $700,000 and was a winner in the Binance Build for Bharat Hackathon. It has been one of the premiere organisations to bring in the concept of accumulating free bitcoin as cashbacks and rewards on everyday purchases, and as of now, the brand has built a community of 150,000 bitcoiners in the Indian market, said GoSats.

Soumya Duggal

Former Feature Writer

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

Kolkata-Based Lab-Grown Diamond Brand Jewelbox Secures USD 3.2 Mn

The startup will primarily use the funds to expand its retail footprint, growing from eight stores to 30 locations by the end of this year.

Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

Marketing

The One Mistake Is Putting Your Brand Reputation at Risk — and Most Startups Still Make It

Many businesses pour resources into branding and marketing but overlook PR — yet it's PR that builds the trust, credibility, and reputation that turn attention into lasting revenue in a crowded market.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.

Growing a Business

How to Avoid the Perils of Short-Term Thinking For Long-Term Success

Too often, leaders go with the option that sounds most appealing right now. Here's why that's a mistake.