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Crypto tax reporting app, Binocs, raises $4mn seed capital

Highlights:

  • Aims to simplify tax and compliance for Indian retail crypto investors
  • Expands operations to the US, UK, Australia, and South Africa; to target institutional investors
  • Seed round saw participation from global investors including, BEENEXT, Arkam Ventures, Accel, Saison Capital, Premji Invest, Blume Ventures, Better Capital

BENGALURU, India, Sept. 22, 2022 /PRNewswire/ — Binocs, the crypto taxation and Web3 portfolio tracking platform, today announced raising $4 million in its seed round from global institutional investors led by BEENEXT, along with Arkam Ventures, Accel, Saison Capital, Premji Invest, Blume Ventures, and Better Capital. The company is also backed by several stellar crypto-native angel investors from the US and India. Binocs, which is launching its platform in the US, UK, South Africa, and Australia, will utilise the funds to expand its product, engineering, growth, and marketing teams.

Blockchain is a living ecosystem, and cryptocurrency is one of its first use cases. Over 300 million people around the world have crypto assets in their investment portfolio, a number that is set to double by 2025. However, the financial compliance of this new asset class has become a bottleneck for investors and regulatory authorities. Founded in July 2022 by Tonmoy Shingal (Co-founder, Mettl, acquired by Mercer in 2018) and Pankaj Garg (Co-founder, Plabro Networks, ex-Google, American Express), Binocs came into being to help simplify these taxations and compliance for crypto investors. In the fast-evolving and complex crypto world, the company enables crypto investors to simplify their accounting and aggregates various Web3-based investments such as NFTs, DeFi Protocols, and Smart Contracts. Binocs helps investors stay on top of their portfolios across 300+ exchanges, 50+ wallets, NFTs, and Smart Contracts. The platform also serves the fast-growing pool of businesses transacting in crypto to help them with compliance, accounting, and portfolio tracking.

On this occasion, Tonmoy Shingal, Co-Founder, Binocs, said, “At a time when the various regulations around crypto tax are causing apprehension amongst crypto investors, we at Binocs are on a mission to leverage our state-of-the-art technology platform to ease the crypto taxation journey for investors. In essence, Crypto is a web3 currency but has to comply with a web2 world of accounting principles and compliance. We are working to bridge this gap. We are elated to have several renowned global investors partner with us on this journey as we work to better the lives of crypto investors across the world.”

With over 20 million investors, India is among the top 3 crypto markets in the world and is touted to be the world’s largest market for retail investors in a few years. Even in countries such as the US (27 million crypto investors), the UK (4 million investors), and Australia (1 million), the markets are ripe for a platform that unifies the global crypto taxation and portfolio tracking system. By eliminating tricky, error-prone, and time-consuming compliance related to crypto trades and investments, Binocs’s sophisticated crypto accounting and portfolio tracking enable users to have a seamless crypto experience globally.

Anirudh Garg, Investor, BEENEXT, remarked, “As the Web3 world grows, crypto native organisations will need solutions like Binocs to help them with their compliances, accounting, and bookkeeping. 20 countries currently have tax regulations and compliances in place for cryptocurrency and there are another 50 that will implement such policies in the near future. This is a great market opportunity to build an easy-to-use, yet powerful, system early on.”

Bala Srinivasa, Managing Director, Arkam Ventures said, “We are delighted to back a world-class team at Binocs led by Tonmoy and Pankaj. It’s early days in the Web3 space and we believe Binocs has a unique opportunity to build a dominant accounting, tax, and compliance platform for consumers and enterprises.”

Atul Gupta, Partner, Premji Invest said, “There is an increasing realization among retail and institutional investors about the potential of the crypto market as evidenced by the burgeoning interest in these assets. However, the supporting infrastructure and application for the web3 world are still in a nascent stage, especially in India. We are convinced that Binocs with its one-stop solution for crypto portfolio tracking and tax management, is well poised to emerge as a leader in making investments easier for customers across the globe. Our investment in Binocs aligns with our approach to provide long-term capital to differentiated companies, and we look forward to participating in their growth journey in the coming years.”

Binocs aims to ensure accurate tax computation is executed while maintaining compliance with the latest local laws and regulations for all its users. Binocs caters to an array of transactions right from Buy / Sell trades, Staking, P2P transactions, Airdrops, and even transactions across wallets. They have recently launched features to track complex trades like Derivatives, Lending & Borrowing across CeFi and DeFi (like AAVE-v2 and more) platforms which sets them apart from the rest. With complete transparency, the algorithm breaks down the transaction fee and TDS already paid on the transactions and then calculates tax on the net amount.

Users can link their crypto portfolios via multiple sources – centralised exchanges, decentralised exchanges, wallets, and on-chains directly. They can track daily portfolio movements and portfolio value (enabled by intelligent analytics), as well as download quarterly and annual tax computation and account statements. Binocs also reconciles transactions, since inception, from multiple accounts with zero errors. Binocs is tax compliant in India, the US, the UK, Australia, and South Africa. In addition, Binocs has forged an exclusive OAuth partnership with BitBNS, the third largest crypto exchange in India. The platform is available free of cost for Indian investors currently.

About Binocs:

Binocs is a venture-backed startup in the crypto space. It has built the latest compliance (accounting and taxes) and portfolio tracking software for crypto transactions for retail and institutional investors. The Binocs team comprises people from software engineering and corporate backgrounds at companies like Google, Amex, GE Finance, Yodlee, The Big Four companies, JP Morgan, and Goldman Sachs. Binocs uses OAuth Integration systems that provide state-of-the-art security and protect all its users’ data.

Binocs is backed by VC investors including: BEENEXT, Arkam, Accel, Saison Capital, Premji Invest, Blume and Better Capital. For more information, please visit https://binocs.co/ or follow on social media via Twitter, LinkedIn, Facebook and Instagram

About BEENEXT: 

BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with their operational experience, network, trust, unique perspectives, and capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT is a platform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has invested in over 200 companies globally. For more information, please visit www.beenext.com

 

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SPJIMR holds Annual Convocation 2025 with HUL’s Nitin Paranjpe as Chief Guest

802 graduates embark on a journey to lead with integrity, passion, and a growth mindset

MUMBAI, India, May 22, 2025 /PRNewswire/ — Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research, one of India’s leading business schools, hosted its Annual Convocation 2025 at its Mumbai campus on Saturday, 17 May. The event celebrated the achievements of over 800 graduating participants from across the Institute’s full-time and modular postgraduate programmes, including two (2) Fellow Programme in Management (FPM) scholars.

The Convocation was graced by Mr. Nitin Paranjpe, Non-Executive Chairman of Hindustan Unilever, as Chief Guest. Also, present were Mr. Deepak Parekh, Chair of SPJIMR’s Governing Council; Dr. Varun Nagaraj, Dean, SPJIMR; faculty and staff; and family members of the graduating participants.

Delivering the Convocation Address, Mr. Nitin Paranjpe drew upon his decades of global business experience to urge the graduating cohort to lead with purpose, resilience, and a commitment to continuous growth. Speaking of India’s bold aspiration to become a Viksit Bharat by 2047, he highlighted the need for a new kind of leadership—one that is ethical, compassionate, and driven by the common good.

Mr. Paranjpe shared three powerful life lessons drawn from his personal and professional journey: “There’s no such thing as a good job or a bad one — it’s the mindset you bring that shapes your experience. The real joy, and the foundation for excellence, lies in loving what you do. Don’t chase being the best in the world — strive to be the best version of yourself. Continuous self-improvement is your right, your responsibility, and your greatest opportunity. Purpose is that inner force that fuels your energy and passion. When you find what truly drives you, hold on to it — it’s the most precious gift you’ll ever have.”

In his address, Dean Dr. Varun Nagaraj shared a candid reflection on the challenges graduates face in an uncertain world—geopolitical tensions and the dual promise and peril of AI. He urged them to enter this complex landscape with confidence, guided by SPJIMR’s mission of value-based growth and wise innovation.

He reaffirmed SPJIMR’s commitment to nurturing leaders who combine knowledge with empathy and impact with purpose: “Tomorrow you will be a different and better person than today. Embrace a growth mindset—remember, you are a work in progress, not a finished product. The world offers no ready-made answers; solutions come only through hard work and wise innovation.”

Sixteen (16) top achievers across programmes were presented with Scholastic Medals by Chief Guest Mr. Nitin Paranjape, and 50 recipients from the Dean’s Honour List received their commendation certificates from the Dean. 

Diplomas were conferred across the Institute’s full-time and modular programmes, including the Post Graduate Diploma in Management (PGDM), Post Graduate Programme in Management (PGPM), PGDM (Business Management), Post Graduate Executive Management Programme (PGEMP), Post Graduate Programme in Development Management (PGPDM), Post Graduate Programme in General Management (PGPGM), and Post Graduate Programme in Marketing & Business Management (PGPMBM).

The Convocation ceremony concluded with the traditional hat throw, celebrating the graduates’ journey and the beginning of their next chapter as responsible, value-based leaders.

About SPJIMR

Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR) is a leading postgraduate management institute, recognised by the Financial Times MiM Global Rankings as India’s #1 business school, by Business Today as one of the country’s top five business schools, and by the Positive Impact Rating as one of the top five business schools worldwide for societal impact. Known for its innovative and socially conscious approach to management education, research, and community engagement, SPJIMR aims to influence managerial practice and promote the value-based growth of its students, alumni, organisations and their leaders, and society. SPJIMR holds the international ‘triple crown’ of accreditations from EQUIS, AACSB, and AMBA.

Visit SPJIMR.org for more information.

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12BET Brings the Aviator Craze to Players with Spribe’s Trending Games

MUMBAI, India, May 22, 2025 /PRNewswire/ — 12BET, a trusted name in global iGaming since 2007, is excited to announce the addition of Spribe’s hit Crash games to its growing lineup. This new partnership introduces one of today’s fastest-growing and most engaging game formats to 12BET players, blending simple mechanics with high-stakes decision-making for a pulse-pounding experience.

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Crash Games: A New Player Favorite Now on 12BET

Spribe is widely known for pushing boundaries in casual, skill-based gaming. Its flagship title, Aviator, has quickly become one of the most buzzed-about Crash games worldwide. The format gives players full control as they decide when to cash out while multipliers climb—creating a unique mix of strategy, timing, and excitement.

By launching Spribe’s game suite, 12BET continues to expand its offerings to match the evolving interests of modern players. To mark the launch, the platform is rolling out an exclusive Daily Mission Challenge where everyone can win Rupees 488 everyday. However, one needs to have an account and be registered user to avail this exclusive offer.

Licensing Matters: Keeping the Fun Safe and Secure

With Crash-style games surging in popularity, a number of unofficial sites have begun to appear, offering deals that seem too good to be true. Even manipulating the outcomes of the crash games. 12BET encourages players to stay cautious and choose licensed platforms for the best experience.

As a fully regulated operator, 12BET works only with certified providers like Spribe. All games on the platform are thoroughly tested and certified by the regulatory body before they are integrated. Choosing a licensed platform means players can enjoy the action with peace of mind, knowing their data and winnings are protected.

A Trusted Platform for Next-Gen Gaming

Backed by nearly two decades of industry experience, 12BET remains focused on delivering innovative, secure, and player-first entertainment. The addition of Spribe’s Crash games is just the latest move in the brand’s mission to bring cutting-edge content to players worldwide in a safe and reliable environment.

About 12BET:

12BET, founded in 2007, is a pioneering igaming company with over a decade of experience delivering multilingual services across Europe and Asia. Recognized globally and ranked 17th by eGaming Review Magazine’s Annual Power 50, 12BET has become a major force in Asia’s igaming market. Built on the core values of sincerity, fairness, and kindness, 12BET provides a secure, reliable, and exceptional entertainment experience for users around the world.

Website: 12BET.com

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IG: 12BET India

Contact Information:

Toomas Saar

Marketing Manager

pr@12bet.com 

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Herbalife India Releases Second Episode of Podcast Series – Live Your Best Life, Unscripted

‘Nutrition Simplified: Protein, Supplements, and Smarter Choices’ with Dr. Parag Singhal and Dr. Ratnesh Lal

BENGALURU, India, May 22, 2025 /PRNewswire/ — Following the impactful debut episode, Herbalife India, a premier health and wellness company, community, and platform, has released the second episode of its engaging podcast series — Live Your Best Life, Unscripted.

Titled ‘Nutrition Simplified: Protein, Supplements, and Smarter Choices,’ this episode brings together two distinguished voices from the health and wellness space:

  • Dr. Parag Singhal, a UK-based consultant physician and endocrinologist specializing in diabetes, obesity, and hormone-related disorders, and
  • Dr. Ratnesh Lal, a medical expert with Herbalife India and a leading advocate for science-backed supplementation.

In a conversation led by Mr. Ajay Khanna, Managing Director of Herbalife India, the episode explores foundational topics such as macronutrients, micronutrients, protein intake, and the science behind supplements. It aims to demystify nutrition, offer practical guidance, and help individuals make smarter, more personalized dietary choices.

Commenting on the episode, Mr. Ajay Khanna, Managing Director of Herbalife India said, “Live Your Best Life, Unscripted is our way of cutting through the noise and bringing clarity to the wellness conversation. This episode helps listeners decode their nutritional needs and highlights how simple, informed changes can drive lasting impact.”

From understanding protein requirements by age and lifestyle, to identifying safe and effective supplementation strategies, the episode offers tangible insights and a strong call for moderation, balance, and awareness.

Watch & Listen Now:

YouTube: https://shorturl.at/PlRF8

Apple Podcasts: https://shorturl.at/Ni76S

Spotify: https://shorturl.at/7xeeP

Amazon Music: https://shorturl.at/P5ulX

The journey continues — ‘Live Your Best Life, Unscripted‘ will keep spotlighting voices that inspire smarter choices, healthier living, and empowered communities.

Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed food products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life.

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