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ZPX Raises Us$1.3 Million To Launch Asia’s First Cryptocurrency Index Token And Decentralised Exchange

ZPX, a Singapore-headquartered investor and builder of next-generation assets within the Blockchain space, announced today that it has received US$ 1.3 million in funding. Investors include SeedPlus; a Singapore-based seed-stage venture firm who closed their US$ 18 million debut fund last year.

Other investors taking part in the round include Silicon Valley based Milliways Ventures, Gokul Rajaram (Product Engineering Lead at Square), in addition to Girish Mathrobhootam, Anand Lunia & Nithin Kamath of India-based financial services firm Zerodha.

Michael Smith Jr, partner at SeedPlus, said “SeedPlus has a view that blockchain and cryptocurrencies are creating new opportunities for the financial markets in the form of investable instruments such as tokens. In addition, we believe that platorms for startups or established companies to launch tokens will be a critical part of the internet infrastructure as well as the exchanges to manage their liquidity. ZPX is at the forefront of this movement in Asia and we are excited to invest and help the team with their vision.”

ZPX will use the funds to further build its blockchain stack, launch new products, and make key senior hires to the team.

Aditya Mishra, Co-Founder and COO of ZPX, said, “Over the next 12-14 months, we are launching a series of products, including 108 token – a basket of cryptocurrencies, a token in stealth designed for the 99%, and ZenRelay, a decentralized exchange that seeks to initiate a paradigm shift for blockchain-based exchanges. Decentralized exchanges offer trust-less non-custodial trading, improved transparency, and inter-exchange sharing of liquidity.”

ZPX’s global advisory board is composed of highly accomplished investors and operators with deep networks in South East Asia, China, India, and the US, including Gokul Rajaram (Square), Balaji K Srinivasan (Counsyl), Savneet Singh (Gold Bullion International) and others.

About ZPX

ZPX is a Singapore-headquartered investor and builder of next-generation assets in the blockchain space. Previous investors include Gokul Rajaram & Milliways Ventures from San Francisco in addition to Girish Mathrobhootam, Anand Lunia & Nithin Kamath of Zerodha. The Company is currently working on a number of token products as well as building a decentralized exchange. ZPX is in the process of launching 108 Token, an ERC20 token built on top of Ethereum, that will dynamically re-adjust every month to the top 15 Crypto token assets based on their proprietary indexing methodology. The firm’s tech platform initiatives are supported by a dedicated blockchain/crypto research and analytics division.

About SeedPlus

SeedPlus (www.seedplus.com) is a Singapore based venture capital firm, looking to invest in and partner with founders building globally disruptive start-ups across Asia, by leading pre-series A rounds. The investment philosophy is focused on operational involvement through a team of seasoned executives from a team of seasoned executives from tech giants likes Google, Yahoo!, Spotify and Evernote. We are supported by Jungle Ventures, and counts Cisco, IFC, SGInnovate, Accel Partners, RNT Associates and Eight Roads as investors. Our broadly-scoped investment interests include machine learning, SaaS, IOT & connected devices, fintech and marketplaces.

Source: 108 Token

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