CoinDCX Co-Founder Sumit Gupta Invests In Luxury Artefacts Brand Viraasat

Viraasat, an Indian luxury artefacts and collectibles brand, has raised an undisclosed angel round from Sumit Gupta, co-founder and chief executive of the crypto exchange CoinDCX.

Viraasat was founded by Paranjay Agarwal and Tiyasha Das and makes limited-edition collector’s pieces based on Indian history and mythology. The money will support new collections and collectible categories.

What Viraasat Makes

Viraasat builds objects rather than products. Each piece is designed around a story from Indian history or mythology, researched, then produced in a limited run.

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The best-known example is a Mahabharata chess set, one of which is owned by Union Home Minister Amit Shah. A chess set is a useful illustration of the model: a functional object, redesigned so that every piece carries a narrative.

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The company says the emphasis is on original design, craftsmanship and researched storytelling. That combination is what separates a collectible from a souvenir.

Why a Crypto Founder Is Investing

Gupta said India has a civilisation with stories and epics that deserve to be experienced beyond textbooks and screens, and that the team’s vision of bringing history into living spaces resonated with him.

That is a personal conviction thesis rather than a sector bet. Gupta invests in early-stage startups in his personal capacity, mostly at pre-seed and seed, and his portfolio includes KNOT, DAOLens and Investorey per Tracxn data.

CoinDCX itself was valued at $2.45 billion post-money in October 2025, when Coinbase invested in the exchange. A founder of that scale writing an angel cheque is a signal for a small brand, but it is not institutional validation.

The Economics of Collectibles

For Viraasat, limited editions are a difficult business to scale, and the difficulty is structural.

Each unit is expensive to make. The market is narrow and demand depends on taste. A brand cannot simply produce more, because scarcity is the product.

The margin, however, is real. A handcrafted piece priced in the tens of thousands of rupees can carry a gross margin that mass-market decor cannot, and the buyer is less price-sensitive than a furniture customer.

The Indian Luxury Gap

Viraasat is also testing whether heritage can be a product category rather than a marketing theme. Indian brands have sold mythology as calendars and idols for decades. Selling it as a design object at a luxury price is the new part.

Viraasat is entering a market with a large base of wealthy buyers and almost no domestic luxury object brands at the top of the market. The segment is dominated by European houses built over a century.

Cultural artefacts are the obvious entry point. A French or Italian brand cannot credibly sell a Mahabharata chess set. That asymmetry is the whole opportunity.

For Viraasat, the constraint is credibility. Collectors pay for provenance, and a brand founded in this decade has to build authentication, documentation and after-sale care before it can charge luxury prices.

What to Watch

Three things will decide whether Viraasat becomes a brand or a project. The first is repeat buyers, because a collectible business lives on people who buy the second piece.

The second is production consistency. Handcrafted objects vary, and a piece that arrives different from the photograph kills trust in a category where the photograph is the only thing a buyer sees first.

The third is distribution beyond exhibitions and Instagram. A luxury object brand needs a physical presence, and a flagship store is the expensive step that angel money alone cannot fund.