Get All Access for $5/mo

Permissionless Raises $2,50,000 Via Community Support In Less Than 48 Hours Permissionless aims at building a public infrastructure for the new web and solving complex problems with deep tech while also introducing open source to the new world

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

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

Company handout

A decentralised autonomous organisation, Permissionless, raised $2,50,000 via community support in less than 48 hours.

Led by GenZ serial entrepreneur Roshan Vadassery, Permissionless aims to leverage blockchain to eliminate trust issues on a technical level, while working towards making the world an open source platform. Not just that, their $PRTN token jumped from 0.01 to 0.4 dollars, making it a 3900 per cent increase, which saw a trading volume of $1 million on the first day of its launch, claimed by the company in a statement.

"Ever since I started coding for Nokia phones at the age of 11, I always knew that sovereign computing will be the future. Today we are wooing the industry with leveraging this beautiful technology that is blockchain. In order to do so, I launched Permissionless with the aim of building a public infrastructure for the new web and solving complex problems with deep tech while also introducing open source to the new world. The feeling of raising a spectacular amount within 48 hours via a community support is a step closer to unlocking one achievement on the list of many more," said Roshan Vadassery, founder, Permissionless.

Enabling the future of fundraising, Roshan became India's first-ever entrepreneur to raise funds via community support in the open-source web3/blockchain space with more than 150 participants, making Permissionless the only Indian company to do so without involving any VCs or investors, the statement added.

Launched in July 2022, Permissionless is a decentralised autonomous organisation built by leaders who have worked in the shadows of the blockchain industry and have come in together to reduce the dependency on centralised entities as the first touch point for adopters of the new web.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

News and Trends

IIT Kanpur Launches Hackathon to Empower Startups in Cybersecurity

Startups will pitch their solutions to a panel of industry experts, with selected teams gaining access to incubation support at IIT Kanpur to help bring their ideas to market

News and Trends

5 Things to Know About India's Chess Pride, Gukesh Dommaraju

He is not only inspired by Dhoni but also relies on a coach from Dhoni's cricketing era to help him prepare mentally.