Mudrex, a crypto asset management platform, has raised $2.5 million in a seed round led by Nexus Venture Partners along with participations of Village Global, Kunal Shah, Anand Chandrashekharan and Anjali Bansal.
The fresh funds will be used to scale up the team and operations, acquiring global regulatory compliances and introducing new products.
The US headquartered and Bengaluru-based company has raised $750,000 from Y Combinator, Better Capital, Woodstock Fund and angels like Nitin Sharma and Anupam Mittal.
Mudrex aims to simplify crypto investing by providing investment products modeled along the lines of ETFs and mutual funds.
“Mudrex is bringing wealth tech to crypto. We’ve been able to scale the business profitably with a growth rate of 30% month-on-month over the last 10 months,” Edul Patel, CEO and co-founder, Mudrex, said.
Launched in 2018 by Edul Patel, Rohit Goyal, Alankar Saxena and Prince Arora, the company aims to develop hassle-free crypto investing. Mudrex has over 25,000 active portfolio managers has seen over $1 billion in trading on the platform.
The company at present holds over $15 million in AUM.
Edtech startup Bluelearn has raised $450,000 (Rs 3.25 crore) in a pre-seed funding led by Lightspeed with participations from 100X.VC, Titan Capital, 2am VC and others.
The fresh funds will be used to build a core team, hiring tech talent, and enhancement of the product.
Bluelearn said it has created a community of over 42,000 members in the last 10 months and the firm is growing at a 10-15% month-on-month rate.
“We started building the BlueLearn community in August 2020. In our conversations with them, we realised there was a huge gap in the industry exposure and opportunities students in tier-2 and 3 colleges received. Through BlueLearn, we want to democratize access to knowledge and bring back the ‘human’ element in the age of virtual learning,” Harish Uthayakumar, co-founder, BlueLearn, said.
Bluelearn aims to be a platform for students to learn new skills and network with peers from the industry.
Competitive exam preparation startup FlashPrep has raised $500,000 in a pre-seed round led by Venture Highway.
The funding round saw participations from Better Capital, First Cheque, among others.
The fresh funds will be used to strengthen and amplify the company’s user base and product offerings.
Founded by Dhiresh Nagwani (CEO) and Ashwini Dhekane (CTO), Flashprep targets Gen Z students who prefer studying with mobile devices.
“Competitive exam prep is a productivity problem which leans the preparation more towards strategy and efficiency. At FlashPrep, we believe in building a companion app for subject mastery and providing access to quality content for aspirants across tiers,” Direct Nagwani, co-founder and CEO, FlashPrep, said.
Nagwani added, “The funding will help us to further take this ambition to new heights, diversify our product offering and strengthen our user base.”
The startup aims to help students who are pursuing NEET and UPSC exams.
The app has so far garnered 15,000 active users with 30,000 downloads.
Machine learning operations platform, NimbleBox.ai has raised $1 million in its seed round led by Venture Catalysts.
The round also saw participations from The Chennai Angels, Nanavati Family and Astarc Ventures.
The fresh funds will be deployed to grow the team, deliver a product roadmap and scale the existing customer base.
“This fundraise is at an exciting time as we are on an exciting growth journey and have experienced a massive 200% increase in our annual revenue,” Anshuman Pandey, CEO at NimbleBox.ai., said.
The platform supports all major machine learning frameworks, enabling developers to train and deploy at scale while maintaining accuracy.
Currently, the platform caters to around 10,000-plus developers in over 30 countries and works with enterprises like Intel, UpGrad, Holberton School and Tata Consultancy Services.
Chennai-based freight management platform Wiz Freight has raised $3.5 million in a seed round led by Axilor.
The round also saw participations from Arali Ventures and Foundamental, along with angel investors Ramakant Sharma, co-founder of LivSpace and Daniel Richner, chairman of M+R Spedag Group, a Swiss-based logistics conglomerate.
Founded by Ramkumar Govindarajan & Ramkumar Ramachandran, Wiz’s full-stack platform allows enterprises & SMBs to automate their cross-border logistics operations.
“We are witnessing a huge need for digitisation with pandemic-led disruptions in international supply chains. Customers are flocking towards solutions that offer better visibility and control over their shipments,” Ramkumar Govindarajan, co-founder, Wiz Freight, said.
The company offers export and import solutions via ocean and air connecting India with major international trade locations.
Wiz works with over 200 Enterprise & mid-market customers across India, South East Asia, and the Middle East.
Wiz Freight said in a statement that it has doubled revenue quarter-on-quarter supported by strong repeat customer business while demonstrating healthy gross margins.
The customers include the likes of Adani, Tata, Mahindra, Aditya Birla, Renew, Hero, ITC, Marico, Zetwerk, and Zilingo.