Crypto exchange CoinDCX raises $135 mn in funding as valuation tops $2 bn
- IBEF
- April 20, 2022
CoinDCX, an Indian cryptocurrency exchange, has raised US$ 135 million in its Series D fundraising round, valuing the company at over US$ 2 billion. Pantera and Steadview led the round, which included participation from Kingsway, DraperDragon, Republic, and Kindred, among others. Existing investors, including B Capital Group, Coinbase, Polychain, and Cadenza, increased their stakes in CoinDCX as part of the new funding round.
CoinDCX intends to open an innovation centre in India to promote Web3 and blockchain adoption. By the end of 2022, the company hopes to have tripled its workforce to over 1,000 people. CEO of CoinDCX, Mr. Sumit Gupta, said that The new round of funding, which included some of the world's largest institutional investors, only adds to the belief in India's enormous potential in the crypto space.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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