PE Fund Investments
Crypto trading exchange CoinDCX raises $136-M from Pantera, Steadview, others
Mumbai-based unicorn crypto trading exchange CoinDCX has raised USD 135.9 million (about INR 1,000 crore) from investors led by Pantera Capital and Steadview Capital, doubling its valuation to USD 2.15 Billion in less than a year to become the most valued crypto trading platform in India. Pantera Capital and Steadview Capital infused about half of the funds in the round, which also saw participation from Kingsway Capital, DraperDragon, Republic and Kindred Ventures. The round also saw existing investors B Capital, Coinbase Ventures, Polychain Capital, and Cadenza Capital Management increase their investments in the firm. The exchange will use the funds to increase its headcount to over 1,000 by the end of next year from 400 now. It plans to hire across engineering, product and compliance.
From the Venture Intelligence PE-VC Deal Database: Between Jun-18 and Aug-21, CoinDCX had raised over USD 110 M from B Capital Group, Coinbase Ventures, Polychain Capital, Jump Capital, Uncorrelated Ventures, Bain Capital Ventures and others. Its valuation had reached USD 1.1 Billion in 2021.
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