CoinDCX raises ₹1,000 crore in Series D funding round

BL Internet Desk | | Updated on: Apr 19, 2022

Money growth vector illustration, flat cartoon golden coins pile with revenue graph, concept of income increase or earnings, financial boost chart, success capital investment, cash budget isolated | Photo Credit: vladwel

Witnessed participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred

Cryptocurrency exchange CoinDCX has closed an oversubscribed round of over $135 million (over ₹1,000 crore )in their Series D funding.

“The round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred,” it said in a statement on Tuesday, adding that existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza also increased their investments in CoinDCX.

“Education, innovation and compliance remain key cornerstones of CoinDCX’s strategy, and with this round, they will continue to build on these strengths,” it further said.

The funding will help put the unicorn in a strong position to support the growth of the crypto and web3 industry in the country, it said.

To support its vision of building India’s crypto/web3 ecosystem, CoinDCX also aims to triple its talent pool to over 1,000 employees by the end of 2022.

CoinDCX aims to nurture local talent through its various outreach programs, research initiatives, and strategic investments.

“The latest round by some of the largest institutional investors only reinforces the belief in India’s immense potential in the crypto ecosystem. With a shared vision of a digital-first economy, we see this round as a strong endorsement of the work that CoinDCX has done for the ecosystem over the years and our plans for the future,” said Sumit Gupta, Co-Founder, and CEO, CoinDCX. 

Published on April 19, 2022
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