Y Combinator-backed Mochatrade announced it has raised $5.5 million to offer perpetual contracts linked to US stock prices to Indian traders. The seed round was led by CoinFund, with participation from Coinbase Ventures and others. The pre-seed round raised $690,000, with Y Combinator investing $500,000. Mochatrade co-founder Chetan Manda stated that the platform is currently in beta testing and is expected to open to the public in the coming weeks.