Mudrex, a crypto investing platform based in Bengaluru and San Francisco, has raised $6.5 million in a Pre-Series A round led by Arkam Ventures, Tribe Capital, and Bolt by QED Investors. The round follows a $2.5 million seed round in which Nexus Venture Partners, Village Global, and Kunal Shah, among others, invested.

Mudrex will use the funds to speed up user acquisition, licencing, and expansion in India, the United States, Europe, and Latin America.

Mudrex was founded in 2018 by Rohit Goyal, Edul Patel, Alankar Saxena, and Prince Arora with the goal of making crypto investments easier for everyday people. It packages crypto tokens in the same way that existing investment products such as mutual funds and exchange-traded funds are packaged.

It also facilitates direct conversion of local currency to cryptocurrency, as well as global liquidity and a secure wallet, making cryptocurrency investing simple. Coin Sets, the company's flagship product, was launched in October 2021 and is a crypto investment product similar to a mutual fund aimed at retail investors.

Coin Sets are 'baskets' that contain a variety of crypto tokens that all belong to the same category or theme. The 'DeFi 10' Coin Set, for example, includes the top ten DeFi tokens, while the 'NFT' Coin Set includes the top six NFT projects. Coin Sets are managed by Mudrex's experts in the same way that mutual funds are managed by professional money managers. It has a retention rate of more than 90% month after month.

Some of the biggest roadblocks to widespread crypto adoption are concerns about stability, risks, and security. To manage potential risks, Mudrex handles allocation, order execution, periodic rebalancing, and diversification of these crypto portfolios.

Mudrex also claims to have grown its user base by 450 percent in just four months, with over 100K users from over 100 countries.