Gazillion Mathtech Pte Ltd, which runs thematic crypto investment startup Koinbasket, on Thursday said it has raised $2 million (around Rs 15 crore) in a pre-seed funding led by Sandeep Nailwal, Co-Founder of Polygon; Omar Rahim, former Director of Binance; Navin Gupta, Managing Director of Ripple; Ajeet Khurana and Kube VC.
The Singapore-based startup plans to deploy the fresh capital for product and geographical expansion, investment in technology aimed at enhancing customer experience and hiring talent.
Founded in 2022 by Khaleelulla Baig, Koinbasket empowers investors to seamlessly buy and sell crypto baskets via their respective crypto exchange accounts. It also curates diversified crypto baskets around themes, trends and ideas for beginners and professionals.
“The crypto world is evolving rapidly and is in a near hyper-adoption phase with the crypto user base growing significantly with the potential to reach two billion users by 2030. We believe there is a strong need to fill the global vacuum of crypto mutual funds with thematic crypto baskets that are easy to understand and simple to invest in for retail investors," said Baig.
KoinBasket in a statement aid that deep integration with global crypto exchanges will help the startup provide well-researched and diversified crypto investment products to 15 million users in their partner ecosystem.
"We are extremely bullish about Khaleelulla and are confident that the company will spearhead the next wave of disruption in the BFSI space. Looking at the sheer growth and potential in the crypto market, we believe KoinBasket has all the potential to be the go-to product for the next billion crypto investors," said Sandeep Nailwal, Co-Founder of Polygon.