BENGALURU: In a big boost to the crypto industry, virtual currency exchange CoinDCX has raised over $135 million (about Rs 1,000 cr) in its Series D funding. With this funding, the exchange is now valued at $2.15 billion.
The funding round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic and Kindred. The latest round also saw existing investors such as B Capital Group, Coinbase, Polychain and Cadenza raising their investments in CoinDCX. It plans to start an innovation centre to create awareness on Web3 and Blockchain, and also its adoption in India. It also aims to triple its talent pool to over 1,000 staff by 2022-end.
“The latest round by some of the largest institutional investors only reinforces the belief in India’s immense potential in the crypto ecosystem,” said Sumit Gupta, Co-Founder and CEO of CoinDCX.
“With a wide array of products built for India, and the commitment to building compliant, simple, and safe solutions, we are uniquely positioned to help forge greater understanding and trust between regulators, industry, and our users, ultimately helping accelerate the growth of Crypto adoption in India and further the march of Web3.0,” he added.
Innovation centre planned
CoinDCX plans to start an innovation centre to create awareness on Web3 and Blockchain, and also its adoption in India. Existing investors B Capital Group, Coinbase, Polychain, Cadenza raised investments
1,000 staff
CoinDCX also aims to triple its talent pool to over 1,000 employees by 2022-end.