Coindcx raises 100 crores 3rd round fund!!!

CoinDCX, a cryptocurrency exchange based in India, continues to aggressively expand its business with a massive new fundraise.

According to a Dec. 21 announcement, CoinDCX has raised $13.9 million from industry investors like Coinbase and Polychain in its Series B funding round. Led by major blockchain software firm, the new raise also included Singaporean investment firm Temasek, Jump Capital, Uncorrelated Ventures, Mehta Ventures, and Alex Pack.

This was CoinDCX’s third round of funding in 2020, bringing the company’s total raised amounts to $19.4 million. In March 2020, CoinDCX raised $3 million in a Series A round from firms like Polychain and BitMEX. The exchange subsequently secured $2.5 million in additional Series A funding from investors like Coinbase and Bain Capital in May.

CoinDCX’s solid growth in 2020 further demonstrates that crypto adoption is rising in India after the country's Supreme Court struck down the Reserve Bank of India’s ban on banks providing services to crypto companies. According to a survey by CoinDCX, the majority of Indian investors do not see an “easy way” to access exposure to crypto assets though.
Posted On: Dec 27, 2020

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