Mumbai: CoinDCX, India’s leading player in the crypto space, has closed an oversubscribed round, over $135 million, in their Series D funding.
The round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred.
The latest funding round also saw existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza increase their investments in CoinDCX, putting it in a strong position to support the growth of the crypto/web3 industry in India, as per a release.
With the latest round, CoinDCX has reaffirmed the global investor sentiment on the potential for India in the industry. The size of the round and varied investors is a testament to the continuous support that CoinDCX has earned over the years. With this round, CoinDCX becomes the highest valued crypto company in India.
Education, Innovation and Compliance remain key cornerstones of CoinDCX’s strategy, and with this round, they will continue to build on these strengths, it said.
To support its vision of building India's crypto/web3 ecosystem, CoinDCX also aims to triple its talent pool to over 1,000 employees by the end of 2022.
“The latest round by some of the largest institutional investors only reinforces the belief in India's immense potential in the crypto ecosystem. 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,” said Sumit Gupta, Co-Founder-CEO, CoinDCX.