CoinDCX Raises $90 Million in Series C Funding Round at $1.1 Billion Valuation

CoinDCX, the India’s largest & safest cryptocurrency exchange, has raised $90 million(INR 670 crores) in a Series C funding round, boosting its valuation to $1.1 billion. As a result, the company officially becomes the first Indian crypto exchange to reach a ‘Unicorn’ status. 

According to the official press release, the latest funding round was led by B Capital Group with participation from Coinbase Ventures, Polychain, Block.one, and Jump Capital. 

The company will utilise the new investment to pursue new business initiatives, enhance its product infrastructure and offerings, and expand its workforce with a view to bolstering its growth and advancing its vision to make cryptocurrencies accessible to 50 million users in India.

​“India is experiencing a dramatic growth in demand for cryptocurrencies and digital assets, yet only few platforms provide the efficiency, security and compliance that investors have come to expect. With the support of the largest institutional backers in both the traditional and digital asset spaces, we will double down on our efforts to build the next generation of products with cutting edge innovation, improve our existing product array, and strengthen our exchange infrastructure and product team in order to provide the most more secure trading experience with instant liquidity to our 3.5 million users,” commented Sumit Gupta, Co-founder & CEO of CoinDC.