RATE Group | Crypto exchange CoinDCX raises $2.5 million in fresh funding
89269
post-template-default,single,single-post,postid-89269,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Crypto exchange CoinDCX raises $2.5 million in fresh funding

26 May Crypto exchange CoinDCX raises $2.5 million in fresh funding

Posted at 18:42h in Cryptocurrency News by

Mumbai: Cryptocurrency exchange CoinDCX has raised Rs 18.98 crore (about $2.5 million) in a follow-on investment round led by Polychain Capital and Coinbase Ventures, the investment arm of American cryptocurrency major Coinbase.

The fresh round of funds are intended to help the startup drive crypto adoption in India and support its plan of increasing crypto investors/traders in India to 50 million. Funds will also be deployed towards a blockchain and cryptocurrency learning programme aimed at first-time cryptocurrency traders.

“The recent months have shown that the cryptocurrency industry in India is finally getting the recognition it deserves from global corporations and investors,” said Sumit Gupta, CEO and co-founder of CoinDCX. “This new strategic investment into CoinDCX is a shot of confidence in our roadmap toward bringing the crypto asset class to a largely untapped Indian market.”

The company had raised a $3 million Series A round earlier in March, which was also…

Source link

Tags:
, , , , , , ,