Crypto exchange CoinDCX said on Tuesday it has raised $135 million in Series D funding from some new and existing investors. With the new round of funding the company's valuation has soared to $2 billion.
The funding round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred.
The latest funding round also saw existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza increase their investments in CoinDCX, putting it in a strong position to support the growth of the crypto/web3 industry in India, CoinDCX said in a statement.
With this round, CoinDCX becomes the highest valued crypto company in India.
"The latest round by some of the largest institutional investors only reinforces the belief in India's immense potential in the crypto ecosystem," Sumit Gupta, Co-Founder, and CEO, of CoinDCX, said in a statement.
"With a wide array of products built for India, and the commitment to building compliant, simple, and safe solutions, we are uniquely positioned to help forge greater understanding and trust between regulators, industry, and our users, ultimately helping accelerate the growth of Crypto adoption in India and further the march of Web3.0," Gupta added.
(With inputs from ANI)