Despite regulatory hurdles, new crypto ventures abound

economictimes.indiatimes.com:

CoinDCX Ventures, is swamped with pitch decks from aspiring crypto entrepreneurs even as the chorus of a long and harsh crypto winter grows stronger by the day. «Every week, we hear 20–30 pitches. In the last 2-3 months, when we hadn't even formally launched, we were getting close to 100 pitches every month, if not more,» said Jain. «We have closed seven investments and two are in the final stages.» Unfazed by a severe crypto market crash, the imposition of a high income tax rate by the Indian government, a massive dip in trading volumes, the collapse of a popular token and continuing global uncertainty around digital asset regulation, Indian entrepreneurs have continued launching scores of new crypto ventures supported by strong angel funding.

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Asia’s first crypto exchange-traded fund (ETF) could be launched in India’s GIFT City this year by Torus Kling Blockchain

Not wanting to miss the Web 3.0 bus, Indian tech entrepreneurs are quickly finding need gaps in the crypto ecosystem and building new products that solve investor pinpoints. «We have seen that for many young Indian investors, crypto was their first ever investment, but the biggest problem they faced was at the discovery stage of the transaction. Hence, we wanted a product like a smallcase for cryptos. The thematic baskets we offer make investing easier,» said Srivar Harlalka, Co-founder, Flippy. The social discovery and investment platform that’s currently in beta stage, recently raised $1.15 million in its seed round led by Redstart Labs and other key investors, including Justin Caldbeck and Alex Lin. Another startup, KoinBasket, raised $ 2 million in angel funding recently from Polygon’s Sandeep Nailwal, Nimesh