RATE Group | CoinDCX raises $2.5 million from Polychain Capital, Coinbase Ventures
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CoinDCX raises $2.5 million from Polychain Capital, Coinbase Ventures

26 May CoinDCX raises $2.5 million from Polychain Capital, Coinbase Ventures

Posted at 07:27h in Cryptocurrency News by

BENGALURU: Cryptocurrency exchange platform CoinDCX has raised $2.5 million as a part of its strategic funding round led by crypto investment platform – Polychain Capital.

Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency exchange Coinbase, is a new investor and participated in this round. This marks Coinbase’s first investment in an Indian blockchain company.

This fund-raise comes two months after the startup had raised $3 million as a part of its Series A funding round, also led by Polychain Capital, in which Bain Capital Ventures and HDR Group had participated.

The company said the current funds will be utilised to launch newer products within India for retail investors, build a team, and to run educational initiatives for adoption of cryptocurrency in the country.

As a part of its educational initiative, CoinDCX plans to roll out ‘Academy’, a blockchain and cryptocurrency learning program aimed toward first-time and…

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