Mumbai: India’s cryptocurrency exchange CoinDCX has raised Rs 100 crore or $13.9 million in its Series B round led by Block.one. DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures, and Alex Pack also participated in the financing round.
With the latest influx of funds in this round, CoinDCX plans to introduce new products and accelerate the process of hiring. According to CoinDCX CEO Sumit Gupta, the company’s team tripled in number from 30 in March to 90 in December.
The proceeds will help the company to develop its newly launched Bitcoin & Crypto Investment App CoinDCX Go. The flagship product aspires to onboard 50 million Indians into the cryptocurrency ecosystem.
Established in 2018, CoinDCX is a cryptocurrency exchange and liquidity aggregator having operations across the world. The exchange has instant deposit and withdrawal facilities with a suite of crypto-based financial products and services which include Insta, Spot, Lend, Margin, and Stake.