04.August.2021 – GoSats, a company that rewards bitcoin after every purchase one makes from their partnered brands, announced that it raised USD 700,000 in a seed funding round from investors like Fulgur Ventures, Alphabit Fund, SBX Capital, and Stacks Accelerator. 

Some of the angel investors also supported this seed round like the CEO of Unocoin, Sathvik Vishwanath; former CEO of Zebpay Ajeet Khurana;  Oroppockect co-founder, Mohit Madan; Sharan Nair, CBO of Coinswitch and few others. 

According to the co-founder of GoSats, the latest raised capital will be used in the scaling of bitcoin adoption in the Indian market and build a reward solution for the brand based on bitcoins.

Commenting on the funding, the angel investor in this round Vishwanath, co-founder of India’s first bitcoin trading platform, Unocoin, in 2013, stated: “The traditional rewards industry is extremely fragmented. Reward points get discarded due to them not being valuable enough and having lots of restrictive terms and conditions. On the other side, while the writing about gains through bitcoin is on the walls, a common man would be afraid due to its volatility in the short term. GoSats solves both problems at once in a unique way.”

About GoSats – 

GoSats was initiated by Mohammed Roshan and Roshni Aslam in February this year (2021), and till now it has on boarded 15k+ customers till now. The company’s business model has brought an easy way to accumulate free bitcoins while the customer shops online. 

GoSats has partnered with more than 120 brands, which includes Amazon, Flipkart, Myntra, BigBasket and Swiggy on its platform. 

The customers can download GoSats’ app for purchasing products, the startup also provides a Chrome extension for desktop usage. Customers can even purchase vouchers from various brands listed with the startup through UPI or debit/credit card. After the transaction is completed a fraction of bitcoin is credited into the customer GoSat wallet as a cashback. 

The cash back can go up to 20% or depends upon the brand the user shops with. The GoSats’ app is available for Android and IOS as well.  

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