Fetcch, a Web3 and digital rewards app, has raised $1.5 million in a funding round led by AppWorks Venture and Hashkey Capital. Additional contributors in the round include LD Capital, Compute Ventures, M6 and GravityX Capital, and NGC. The funding will be deployed for furthering product development within the Web3 sphere and broadening the platform's Web2.5 use cases.

Established in May of the previous year by Mandar Dange and Satyam Kulkarni, Fetcch functions as an infrastructure platform facilitating digital payments and rewards, leveraging blockchain technology for instantaneous settlements. Within the Web3 landscape, the company has developed capabilities for pull payments, allowing for features such as recurring payments initiated without action from the payer.

Co-Founder and CEO Mandar Dange expressed excitement regarding the funding, stating, "We recognize a substantial opportunity in the payments and loyalty rewards ecosystem and are eager to address gaps in the industry. Envisioning a future where Web2 tech businesses integrate blockchain at the backend, this funding will support the expansion of our engineering and research team".

Fetcch recently earned a spot in Graviton, a Web3-focused accelerator targeting emerging markets. With crypto-related entities in India anticipating significant growth in real-world use cases, particularly in the payments sector, Fetcch aims to capitalize on this favorable trend.