The company plans to spend the money on new product offerings, hiring, and compliance issues.
Indian cryptocurrency exchange CoinDCX announced on Tuesday a $135 million Series D funding round. The company’s valuation in the new round has nearly doubled to $2.15 billion from $1.1 billion in August 2021.the news on Twitter, saying he was “excited to share that CoinDCX has raised over USD 135 million in our latest Series D funding round.”
The company said it plans to invest the money in expanding its product offering, increasing its talent base, and focusing on compliance issues. CoinDCX currently employs about 400 people, which it wants toLed by Steadview and Pantera, which brought nearly half of the funds, the new round had major participation from DraperDragon, Kingsway, Republic, and Kindred Ventures. Existing investors B Capital, Coinbase Ventures, Polychaincap, and Cadenza also increased their allocations in CoinDCX.
“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.With this round, CoinDCX became the highest valued crypto company in India, the exchange said in aIn August last year, when CoinDCX raised $90 million in Series C funding led by B Capital, it was valued at $1.1 billion, making it the first unicorn in the Indian crypto space.
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