Crypto taxation and Web3 portfolio tracking platform Binocs raised $4 million in seed led by BEENEXT where Arkam Ventures, Accel, Saison Capital, Premji Invest, Blume Ventures, and Better Capital also participated.
Binocs aims to make tax and compliance easier for Indian retail cryptocurrency investors. The startup simplifies crypto investors' accounting and aggregates various Web3-based investments such as NFTs, DeFi Protocols, and Smart Contracts. The funds will be used to expand the startup's product, engineering, growth, and marketing teams. It is also expanding its operations in the United States, the United Kingdom, South Africa, and Australia, and it is targeting institutional investors.