TaxNodes helping users calculate crypto taxes and file income tax returns raises $1.6M funding

Despite the challenging funding environment for crypto startups, TaxNodes, a startup helping users calculate crypto taxes and file income tax returns, has raised $1.6 million in funding to enhance its mission of making tax calculations easier and providing end-to-end solutions for individuals and businesses dealing with crypto taxes.

Notable investors in this funding round include Rahul Pagidipati, the CEO of ZebPay, Nischal Shetty, the CEO of Shardeum and founder of WazirX, Ashish Singhal, the co-founder and CEO of CoinSwitch; and Ajeet Khurana, the founder of Reflexical. Avinash Shekhar, a chartered accountant and former CEO of one of the oldest crypto exchanges, founded TaxNodes.

Taxnode is developing an AI-powered tax advisory model that leverages a Large Language Model similar to GPT (Generative Pre-trained Transformer) technology. The startup said that this model will assist both individuals and corporations in achieving control and compliance in their tax-related matters.

Recently, It has announced partnerships with renowned crypto exchanges such as ZebPay, WazirX, and Giottus.

The startup also said that its primary focus is to assist crypto users in complying with tax laws. Additionally, TaxNodes will aid crypto exchanges in strengthening their internal controls and automating reconciliation and accounting processes.

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