CoinDCX raises $135mn, becomes the most valued crypto exchange in India

April 20, 2022

By Priyanka Shetty

CoinDCX has raised over $135 million in Series D funding round, led by Pantera and Steadview. This points out the fact that investors’ sentiments are bullish on the crypto sector, despite increased government scrutiny and other factors.

Here’s what we know:

The funding will help put the unicorn in a strong position to support the growth of the crypto and web3 industry in the country, Coindcx said. CoinDCX also said it aims to triple its talent pool to over 1000 employees by the end of 2022.

Sumit Gupta, co-founder, and CEO, of CoinDCX said,”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”.

CoinDCX further added that they are committed to creating awareness and educating Indian investors on crypto and blockchain. The exchange has launched various educational initiatives and campaigns working closely with universities and through their DCXLearn platform.

Commenting on risk management and compliance frameworks, CoinDCX said, using the 7M Principal evaluation framework, all projects are vetted and only then allowed post due diligence. Further, the exchange has also partnered with crypto-native trade surveillance and market integrity leaders such as Solidus Labs and Coinfirm, to strengthen its anti-money laundering protection.

The funding round witnessed participation from investors like Kingsway, DraperDragon, Republic, and Kindred, along with existing investors B Capital Group, Coinbase, Polychain, and Cadenza.

 


About the author

Based in Bengaluru, Priyanka Shetty is a freelance writer for Blockchain Asset Review.

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