PE-VC Fund Investments
Crypto exchange CoinDCX attracts fresh investment from Coinbase, others
US-based Coinbase has infused fresh capital into Mumbai-based crypto-exchange CoinDCX , at a post-money valuation of USD 2.45 billion.Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX offers over 500 crypto assets and over 200 crypto pairs and claims to have over 20 million Indian investors on its platform. It is also the first exchange to be FIU (Financial Intelligence Unit)-registered in India.The new funding, which is an extension of its last fundraise, will be used to enhance its product offerings, introduce new on-chain use cases for India, and expand into new markets. Currently, the firm operates in the Middle East and North Africa (MENA) region through its acquisition of BitOasis in 2024.
Between Jun 2018 and Apr 2022, CoinDCX had attracted about USD 248 M from Bain Capital Ventures, Polychain Capital, Coinbase Ventures, Jump Capital, Uncorrelated Ventures, B Capital Group, DraperDragon, Kindred Ventures, Pantera Capital, Republic Capital, Steadview Capital and others.For FY24, CoinDCX had reported about INR 392 Cr in Operating Income and about INR 15 Cr in PAT.
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