Hornet Decentratech Private Limited, a leading crypto compliance and forensics platform in India, has successfully raised ₹4 crore in seed funding from Artha Venture Fund. The investment aims to enhance Hornet’s regulatory compliance solutions and expand its presence across multiple regions.
Hornet has established itself as a key player in crypto forensics and compliance, with its solutions being actively used by law enforcement agencies such as the Telangana Police, West Bengal Police, and the Directorate of Enforcement (ED). The platform has been instrumental in resolving financial crimes, leading to the freezing of funds in international exchanges and the arrest of individuals involved in transnational crimes.
The company has achieved significant breakthroughs in collaboration with the Telangana Police. It has uncovered over 40 crypto-fraud cases involving tens of crores of rupees. Through its forensic tools, $200,000 has been frozen globally, with $120,000 successfully refunded. Additionally, Hornet has identified over 200 KYC-verified wallets, enabling swift court-mandated freeze orders. These rapid resolutions have set new national benchmarks in cybercrime enforcement.
With the newly raised funds, Hornet plans to focus on three key areas. First, it aims to strengthen its B2B AML/CTF Compliance Solutions by providing financial institutions, including crypto exchanges, with advanced tools to meet Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and other regulatory requirements. Second, the company is expanding its B2G (Business-to-Government) partnerships, reinforcing collaborations with law enforcement agencies across India and globally to enhance crypto-related investigations.
Since its incorporation, Hornet has made remarkable progress in the crypto compliance space. It has developed and deployed a deep-tech product, successfully solved financial crime cases, conducted pilot testing, and achieved revenue generation. The company has a growing client base, including repeat customers and new acquisitions, and has also attracted interest from crypto exchanges worldwide.
Speaking on the funding, Souvik Haldar, CEO of Hornet, stated: “This funding validates our vision to make India self-reliant in crypto and dark web forensics. As financial institutions face increasing challenges related to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) compliance, Hornet remains committed to equipping crypto exchanges with the best-in-class solutions. We are grateful to Artha Venture Fund and our partners for their trust and support as we scale our impact.”
Hornet Decentratech Private Limited is India’s first fully indigenously developed crypto forensics and investigation platform. Founded in 2023 by Souvik Haldar, Subhrojyoti Mondal, and Shreyan Gupta, the company provides services to law enforcement agencies, financial institutions, and crypto exchanges. Hornet specializes in tracking, monitoring, and investigating cryptocurrency-related crimes, including money laundering and dark web activities.