Total amount raised
$22.1 Million
Latest funding date
8/1/2022
Location
Mudrex has successfully raised funding over five rounds, with the latest being a Venture - Series Unknown round. The platform is backed by 11 investors, including Tribe Capital and QED Investors.
Keep reading to explore the intricacies of Mudrex's fundraising journey and the investors backing this innovative cryptocurrency investment platform.
What Is Mudrex?
Mudrex, founded in 2018, is a cryptocurrency investment platform based in Bengaluru, Karnataka, India. The company operates in various sectors including asset management, blockchain, cryptocurrency, financial services, fintech, trading platform, and Web3.
With an employee count ranging from 51 to 100, Mudrex is trusted by over 3 million users and manages assets worth over $25 million. The platform offers a wide range of services, including trading over 650 coins, investing in curated crypto baskets, and trading crypto futures.
How Much Funding Has Mudrex Raised?
- Pre-Seed Round
- Amount Raised: USD 250,000
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the platform and acquire initial users.
- Seed Round
- Amount Raised: USD 500,000
- Date: March 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and operations.
- Seed Round
- Amount Raised: USD 2,500,000
- Date: August 2021
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up the team and operations, create innovative products, and acquire global regulatory compliances.
- Seed Round
- Amount Raised: USD 6,500,000
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion.
- Series Unknown
- Amount Raised: USD 12,319,245
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform and enhance product offerings.
Total Amount Raised: USD 22,069,245. Current Valuation: Not publicly disclosed.
Key Investors
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong presence in India and the U.S.
- Investment Focus Areas: Technology, consumer, enterprise sectors
- Notable Investments: Unacademy, Delhivery, Postman
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. It has funded over 2,000 startups since its inception.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Airbnb, Dropbox, Stripe
- Village Global
- Details: Village Global is a venture capital firm backed by some of the world’s most successful entrepreneurs. They focus on early-stage investments.
- Investment Focus Areas: Technology startups with high growth potential
- Notable Investments: Lambda School, DuckDuckGo
- Kunal Shah
- Details: Kunal Shah is the founder of Cred, a fintech company. He is a well-known entrepreneur and investor in the Indian startup ecosystem.
- Investment Focus Areas: Fintech, technology startups
- Notable Investments: Cred, FreeCharge
- Anjali Bansal
- Details: Anjali Bansal is the founder of Avaana Capital, an investment firm. She is a prominent business leader and investor.
- Investment Focus Areas: Sustainable and impact-driven investments
- Notable Investments: Nykaa, UrbanClap
What's Next for Mudrex?
Mudrex stands at the cusp of significant growth opportunities. With a robust platform that has already seen over $1 billion in trading and a current AUM of $15 million, the company is poised to scale its operations and expand its user base. The increasing interest in crypto asset management and the rise of retail investors present a fertile ground for Mudrex to introduce innovative investment products and expand globally.
Future fundraising rounds are likely as Mudrex continues to grow. The successful seed rounds indicate strong investor confidence, paving the way for Series A and beyond. These funds will be crucial for scaling operations, enhancing product offerings, and navigating global regulatory landscapes. However, challenges such as regulatory compliance, market volatility, and competition from other crypto platforms will need to be managed carefully.
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