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Climatetech startup Creduce Technologies has announced the launch of its sustainability-focused blockchain token, KICHEE. The token will likely be launched on May 31, while its pre-launch sale will commence on May 10. 

In a statement, the startup said 1 Cr KICHEE tokens will be minted and listed. Creduce aims to enable individuals and businesses to smoothly adopt a carbon-neutral investment using the KICHEE token. 

Creduce founder Shailendra Singh Rao said, “We are launching KICHEE to enable everyone from the individual to institutional levels to have the most credible asset if they understand the need to contribute to climate change mitigation. It is a new way to help the world participate in combating climate change and global warming.” 

Creduce said 1 KICHEE token is equivalent to 100 kgs of averted CO2 (carbon dioxide) emission in a given year. 

The startup said that the token is substantiated by certified credits from audited projects. Credits would be generated from other projects such as water credits, plastic recycling, waste handling, among others. 

KICHEE coins can be used in gaming, Metaverse, trading, offset emissions, gifting, barter, and digital assets. The blockchain token will be listed on exchanges such as Binance, WazirX, CoinSwitch, Coinbase, Opensea, among others. 

Founded in 2021 by Shailendra Singh Rao and Vishwaraj Singh Rao, Creduce is a climatetech startup that provides services in the domain of climate change and carbon asset management. 

Investments worth over $247 Mn flowed into the crypto startups in the country last year. According to an Inc42 report,  more than 350 blockchain startups were operational in the country in 2021, with the cryptocurrency segment receiving the highest funding last year.

The trend continued in 2022, with homegrown blockchain startup Polygon raising $450 Mn earlier this year in a funding round led by Sequoia, SoftBank, Tiger Global and many other big names at a valuation of around $10 Bn.

In April, NFT-based eSports platform Mokens League raised $2 Mn in a seed funding round and also launched its in-game currency – Moka Token ($MOKA) –- built on the Polygon Network. In the same month, global-token social media platform Taki raised $3.45 Mn as part of a seed funding round led by major Indian crypto exchanges including CoinDXC and Coinbase Ventures.