One of the leading crypto exchanges in India, CoinDCX fetched more than $135 million ( Rs 1000 crore) in the Series D fundraising round. With the latest fundraising round, CoinDCX’s valuation surpassed the $2 billion mark.
Sumit Gupta, Co-Founder, and CEO, of CoinDCX, stated that the fund will help to achieve the company’s dream to make crypto accessible for every Indian.
The fundraising round was led by Panter and Steadview along with other prominent investors such as Kingsway, DraperDragon, Republic, and Kindred and existing investors including B Capital Group, Coinbase, Polychain, and Cadenza.
The fundraising round will empower and strengthen CoinDCX’s vision to grow the crypto and web 3 industry in India. With the completion of the funding round, CoinDCX became the most-valuable crypto exchange in India.
CoinDCX confidently stated that once again the company got success to make global investors believe in its potential in India for crypto operations. The continuous backed financial support from the global investors is a testament to the CoinDCX legacy that the exchange earned over the years.
“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 amazing work that CoinDCX has done for the ecosystem over the years and our plans for the future,” said Sumit Gupta, Co-Founder, and CEO, of CoinDCX.
CoinDCX revealed that the company is planning to increase its staff to more than 1000 employees through talent acquisition by the end of 2022. Apart from this, to boost other initiatives and local talents the company will launch various outreach programs, research initiatives, and strategic investments.
Sumit Gupta recalled the company’s goal of improving communication among regulators, users, and the industry. In addition, the company hopes to raise awareness of crypto and blockchain technologies among Indian investors.
CoinDCX is striving with full dedication to expand its user base to 50 million in the upcoming 5 years. To accomplish its mission, a large amount of capital has been put behind the team’s efforts.
Notably, the exchange is getting immersive support from global investors to expand its operations in the country. Last year, CoinDCX raised $90 million in the Series C funding round led by Eduardo Saverin.
