[Funding Alert]: Indian Techie's Singapore Based Decentralised Autonomous Organisations Startup Raises $2.5mn In Pre-series Funding

By Aakash Kalra    -   June 14, 2022

Investee Startup/Company: Samudai (singapore)

Website: www.samudai.xyz

Funding: $2.5 (Rs.19 Crores)

Round of Funding: Pre-Seed Fund

Valuation: Undisclosed

Investors Participated: Funding round was led by VC investors like FTX Ventures, Sino Global Capital, Coinbase Ventures A&T Capital, Ventures and others. Investment round saw participation from prominent angel investors like Balaji Srinivasan (CTO of Coinbase) and Polygon founder Sandeep Nailwal as well.

About Company: Kushagra Agarwal and Navin founded Samudai in Singapore earlier this year. The startup plans to release a comprehensive productivity suite for DAOs (Decentralised Autonomous Organization) as well as a project management network and other collaboration tools for Web3 users. DAO is an organization created by developers to automate decisions and facilitate cryptocurrency transactions.

Samudai platform will allow for new degrees of customization and will make large-scale coordination and execution across DAOs much easier through an all-in-one platform.

In an interview, Navin, Co-founder said, "We’re grateful for the support of such well-known investors in innovation, which will help us make it easier for DAO Admins and contributors to nurture a healthy work-life while advancing global coordination in this industry."

Purpose of Funding:

  • Work on growth of the team
  • Accelerate development
  • Marketing of the DAO (Decentralised Autonomous Organization) platform

Statup in currently in its early stages and through this funding it envisions to develop and market various products and embark a journey towards growth.