Crypso, a community-led crypto trading platform has raised $3 million in its seed funding round from Hashed Emergent, Athera Venture Partners, Better Capital, and Whiteboard Capital.
The round also saw participation from prominent angel investors including Sandeep Nailwal and Jaynti, founders, Polygon, and Kunal Shah, founder of Cred.
The startup plans to use the funds to grow its user base and expand the breadth of product offerings and technology.
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The Bangalore-based Crypso was founded in 2021 by former Truebil’s co-founders of Suraj Kalwani, Ravi Chirania, and Rakesh Raman, It enables crypto users to learn and discover the latest crypto trends and invest through trading signals on various altcoins generated by crypto experts.
“The market is bearish, and it is a great time to build. Our focus is to create this behaviour where people come to Crypso not just to invest, but because they want to know where to invest and if we are able to crack this, we think it is a huge consumer business opportunity,” Kalwani said.
Apart from a bear market, crypto trading platforms in India have seen their trading volume decline due to a new tax regime. The company has 50,000 registered users and plans to reach one million active users in the next 8-12 months.
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About Crypso
Crypso is on a mission to democratize crypto for millions in India and the whole world.
They believe that crypto is a social and community-driven phenomenon. Similar to how people engage with crypto influencers and creators on YouTube and Telegram for trade signals, token launches, airdrops, news analysis, portfolio allocation, trading NFTs, and a whole lot more.
At Crypso, they aim to build the infrastructure where this behaviour thrives and enables millions to start their crypto journey together. Crypso is backed by leading angle investors and micro VCs.
