your password has been reset successfully, Please login again.

CoinDCX Raises INR 22.84 Crore in the Funding Round led by Polychain Capital

Other investors, who took part in the funding round, include Bain Capital Ventures and HDR Group, which leads BitMEX
BY BEx Bureau
BusinessEx
Mar 24, 2020

CoinDCX, which is administered by Neblio Technologies Pvt. Ltd, has recently received an offering of INR 22.84 crore in a series A funding round. The US-headquartered a blockchain and cryptocurrency investor, Polychain Capital led the funding round of the company.

Other investors, who took part in the funding round, include Bain Capital Ventures and HDR Group, which operates cryptocurrency platform, BitMEX, reported Inc42.

The Mumbai-based cryptocurrency platform, CoinDCX will employ the funds for augmenting its product, research, marketing activities, and services besides enhancing its offering to render the increasing count of cryptocurrency users in India, the cited media report added.

The Supreme Courts decision to strike down the banking ban is an encouraging sign for the broader cryptocurrency ecosystem in India and we are confident that there is huge potential growth in this market, Carlson-Wee, founder at Polychain Capital, said in an interview with Inc42.

The present investment takes place a year after CoinDCX garnered an undisclosed sum of seed funding in the round, led by the asset management company, Bain Capital Ventures. A cohort of individual angel investors including Sanjay Mehta, Principal at Mehta Ventures and AngelList Indias partner, Utsav Somani also participated in the funding round.

Please add your Comment
SIMILAR News
April 07, 2020
In the previous week, Lido garnered $3 million in Series B round, pegging at $10.5 million ...More
By Jaspreet Kaur
April 07, 2020
After this deal, pharmaceutical firm, Cedac Mediacorp is valued at INR 11 crore ...More
By Jaspreet Kaur
April 06, 2020
Arka Venture Labs, Benhamou Global Ventures and Emergent Ventures led the seed funding round of Obvi ...More
By Jaspreet Kaur
April 06, 2020
Following the acquisition, the healthcare research subsidiary of Manthan will be rebranded as m360 R ...More
By Jaspreet Kaur
April 04, 2020
Matrix Partners India and SAIF Partners led the funding round of Camp K12 ...More
By Jaspreet Kaur
April 04, 2020
Aavishkaar has wholly exited from Sara Plast, which is a portable sanitation services company ...More
By Jaspreet Kaur
April 03, 2020
Egmont Books has been deemed a big name behind various popular magazines in over twenty nations ...More
By Jaspreet Kaur
April 03, 2020
Tapits Technologies Pvt. Ltd will employ the capital to add various other banking and financial prod ...More
By Jaspreet Kaur
April 02, 2020
With this business deal, Furlenco is pegged at $125 million ...More
By Jaspreet Kaur
April 02, 2020
Recko will employ the garnered money for expanding its technological infrastructure, hiring new tale ...More
By Jaspreet Kaur
March 31, 2020
A drop in Asia’s deal volume is recorded 17 per cent year-on-year to $142.9 billion ...More
By Jaspreet Kaur
March 31, 2020
Zealthy will employ funds to develop its technological infrastructure and add more languages to its ...More
By Jaspreet Kaur