Indian cryptocurrency exchange CoinDCX’s latest funding comes as investors double down on the country’s potential to emerge as the world’s top market despite government apathy.
- Series D funding was led by Pantera and Steadview Capital, the company said.
- Existing investors such as former Facebook cofounder Eduardo Saverin’s B Capital Group, as well as Coinbase, Polychain and Cadenza joined the fund raise.
- CoinDCX became India’s first crypto unicorn last year after raising US$90 million in series C funding led by B Capital Group.
- With this round, CoinDCX becomes the highest valued crypto company in India.
- The Mumbai-based firm says it will use the funds to build on “education, innovation and compliance.”
- CoinDCX aims to triple its headcount to over 1,000 employees by the end of 2022.
- “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, cofounder and CEO of CoinDCX.
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