Satvik Sethi, ex-global product lead of Web3 at Mastercard, has raised $1.1 million (Rs 13 crore) at a rumoured valuation of $15 million (Rs 113 crore) in pre-seed funding for his venture Offline Protocol from American investors. Sethi is also a two-time acquired founder in the social impact and consumer social space.
The funding for Offline Protocol was led by Portal Ventures with participation from Seed Club Ventures. Renowned angel investors such as Paul Taylor, Rahim Noorani and Rushi Manche (founder of Movement Labs) also joined the round.
Previously, Offline Protocol was backed by globally renowned accelerator Alliance, which, according to its website, invested $3,50,000 (Rs 3 crore) in Offline Protocol and other companies in their batch.
We are thrilled to announce that Offline Protocol has raised $1.1 Million in pre-seed funding.
This round is led by Portal Ventures (@PortalVentures), with participation from Seed Club Ventures (@seedclubvc), and angels Paul Taylor (@PaulTaylorVC), Rushi Manche (@rushimanche),… pic.twitter.com/DOxV3dWFfH
— Offline Protocol (@OfflineProtocol) March 12, 2025
What is Offline Protocol and what does it do?
Offline Protocol is a unique, decentralised software company created with the vision of bringing financial access, communication and privacy to the world.
Its proprietary solutions allow smartphones to create local mesh networks that can be utilised by individual consumers, retail and businesses across geographies to transact and communicate without the presence of internet or active telecommunication services.
Sethi’s vision for Offline Protocol is to create a connective “alternate-web” across all devices that do not have access to stable internet under different scenarios.
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