Cryptocurrency alternate CoinDCX on Tuesday mentioned it raised Rs 100 crore ($13.9 million) in its sequence B spherical led by Block.one.
The funding spherical additionally noticed the participation of DG, Leap Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures and Alex Pack, CoinDCX mentioned.
This makes for the third spherical of funding for CoinDCX in 2020.
In March, the corporate raised Collection A funding price $3 million from firms reminiscent of Polychain Capital, Bain Ventures and Bitmex.
In Could, the alternate raised $2.5 million in a strategic spherical from the above firms in addition to Coinbase Ventures, the funding arm of San Francisco-based cryptocurrency buying and selling platform Coinbase.
Compiling all three rounds of funding this yr, CoinDCX has raised near $19.4 million, until date.
“This has been essentially the most thrilling yr for CoinDCX. Whereas the pandemic pressured everybody indoors, CoinDCX scaled up exponentially and continues to take action. Our workforce tripled in quantity from 30 in March to 90 in December, and we’re persevering with to rent aggressively,” Sumit Gupta, CEO and co-founder of CoinDCX, mentioned in a press release.
“The funds raised up to now in addition to the present spherical will assist us develop our newly launched Bitcoin & Crypto Funding App CoinDCX Go and make it the best and the most secure approach to onboard the on a regular basis Indian into cryptocurrencies.”
CoinDCX mentioned it noticed 3X progress within the total quantity traded and noticed 4X quarter-over-quarter progress in every day lively customers, within the Apr-Jun quarter.
Total in Q2 and Q3, CoinDCX noticed 12 per cent improve in signups and 20 per cent improve in quantity.
The alternate mentioned it noticed 21 per cent month-on-month (MoM) progress in commerce quantity and 25 per cent MoM progress within the variety of customers, in October.
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