Bengaluru and San Francisco-based crypto asset management platform Mudrex has raised $2.5 million in a seed funding round led by Nexus Venture Partners with participation from Village Global and angel investors Kunal Shah, Anand Chandrashekharan, and Anjali Bansal.
The company had earlier raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal.
The funds raised will help Mudrex in scaling up the team and operations, acquiring global regulatory compliances, and creating innovative products, it said in a statement.
Launched in 2018 by IIT Bombay alumni, Edul Patel, Rohit Goyal, Alankar Saxena, and IIT Kanpur alumnus Prince Arora, Mudrex was built with the idea of revolutionising retail participation in crypto. It claims to help people invest in cryptocurrencies in a hassle-free and safe environment, using top algorithms made by portfolio managers.
Mudrex, which hosts over 25,000 active portfolio managers acquired both organically as well as through a referral system, has witnessed more than $1 billion in trading on the platform. The company at present holds an AUM of $15 million.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced between August 3-6, 2021.
