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CoinDCX Raises $135 Million, Funding At $2 Billion Valuation

Indian crypto exchange CoinDCX: Indian crypto exchange CoinDCX has raised $135 million under Series D funding with a valuation of $2 billion. According to a Business Standard report, the round was led by Pantera and Steadview and saw participation from leading investors like Kingsway, DraperDragon, Republic and Kindred.

Existing investors such as B Capital Group, Coinbase, Polychain and Cadenza have also increased their investments in CoinDCX in this funding round.

CoinDCX said that it is committed to creating awareness and educating Indian investors on crypto and blockchain. It has launched several educational initiatives and campaigns in association with universities. Through its DCX Learn platform, it fosters understanding and trust for this emerging asset class.

Plan to have more than 1,000 staff

CoinDCX plans to launch an innovation center to increase the adoption of Web3 and blockchain in India. The company has also set a target of tripling its workforce to more than 1,000 by the end of 2022.

Seal on the capabilities of the Indian market

Sumit Gupta, Cofounder and CEO, CoinDCX, said, “This new funding from some of the largest institutional investors reinforces the belief in the potential that exists for the crypto ecosystem in the Indian market. With a shared vision of the digital economy, we see this round as a testament to the work CoinDCX has been doing for the ecosystem over the years.

The company will increase the acceptance of crypto in India

He said, “With India creating a range of products and building a simple, regulatory and secure solution, we are positioned to be able to help develop understanding and trust among regulators, industry and other users.” Overall, we can be instrumental in increasing the acceptance of crypto in India and moving towards Web 3.0.

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