CoinDCX, an Indian crypto unicorn, has raised $135 million from venture capital funds led by Pantera Capital and Steadview Capital Management LLC.
The current capital round, according to co-founder and CEO Sumit Gupta, values the company at $2.15 billion, making Coinbase-backed Ventures India’s most valued bitcoin exchange.
CoinDCX is India’s first $1 billion firm.
“Despite all the challenges, the faith that high-quality investors have shown in the company is actually very hopeful,” Gupta added, referring to recent problems processing payments through the UPI platform.
CoinDCX, which became the first $1 billion startup in the Indian crypto market last year, will use the cash to more than double its workforce to 1,000 people this year, introduce new products, and raise awareness of virtual digital assets, he added. assets and assist other startups.
“Despite the current payment issues, hefty taxes, and regulatory uncertainty, CoinDCX, which has 12.5 million users,” Gupta added, “will continue to invest in India.”