Crypto exchange platform CoinDCX has raised $135.9 million from investors led by Pantera Capital and Steadview Capital. The latest round values the company at $2.15 billion. Kingsway, DraperDragon, Republic and Kindred Ventures also participated in the startup’s new funding round.
The platform plans to use the funds to more than double its workforce to 1,000 people this year, add more products, and spread awareness regarding virtual digital assets and support other startups.
The funding comes even as Indian payment service providers have stopped processing crypto transactions via the unified payments interface (UPI). “The kind of confidence such high-quality funds have shown in the company in spite of these challenges is actually very promising,” Sumit Gupta, co-founder and CEO, CoinDCX, told Bloomberg.
(With inputs from Bloomberg)