Mochatrade raises $6 million for US stock perpetuals in India

Mochatrade has secured approximately $6 million in funding to provide Indian retail traders with access to perpetual futures on US stocks, commodities, and indices. The funding includes a $5.56 million seed round led by CoinFund, with participation from Coinbase Ventures and Nicky Montana of Zero Knowledge Ventures. This follows a $690,000 pre-seed round supported by Y Combinator and Pioneer Fund.

The platform allows users to trade contracts linked to over 50 US stocks, such as Nvidia, Tesla, and Apple, using Indian rupees via the UPI payment system. These perpetual contracts offer leverage up to 50x and do not involve actual share ownership or dividends. The service enables 24/7 trading, allowing exposure to markets even when US exchanges are closed.

Mochatrade is built on the Hyperliquid blockchain to ensure sub-second execution speeds and real-time settlement. The company currently has over 20,000 people on its waitlist and expects a public launch in the coming weeks.