Diligence memo · auto-generated · as of July 2, 2026
Mudrex, Inc.
Mudrex, Inc. looks over-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Mudrex, Inc. operates in Crypto / Web3, based in MOUNTAIN VIEW, India; Remote. India's largest crypto investing paltform
Sub-sector tags: Crypto / Web3, Fintech, crypto/web3.
Capital & rounds (filed)filed
Mudrex, Inc. has raised $20M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $12M on 2022-07-20.
Most recent recorded round closed around 2022-07-20.
Valuation (modeled)modeled
Provath models Mudrex, Inc. at approximately $159M (range $14M–$539M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 2.59× the median modeled value of Series A Crypto / Web3 companies in 2022–2024 (9 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 4 months.
Last raise 4.0 yr ago; this sector typically re-raises about every 7 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 3.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 89% of Crypto / Web3 peers (196 compared).
Modeled value ranks above 84% of those peers.
Closest niche peers: NALA, NFT Now Media, Inc., Web3 Pro Inc., Loop Crypto, Inc., VV Global Encryption Digital Asset Trading Co., LTD.
Peoplefiled
1 named person on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.