Cryptocurrency exchange CoinDCX raises $13.9 mn led by Block.one

CoinDCX, a leading cryptocurrency exchange in India, has raised $13.9 million led by Block.one.
Bitcoin cryptocurrency
The series B round included investment from DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures and Alex Pack.

This makes for the third round of funding for CoinDCX in 2020.

In March 2020, CoinDCX raised Series A funding worth $3 million from companies such as Polychain Capital, Bain Ventures and Bitmex.

In May 2020, the exchange raised $2.5 million in a strategic round from the above companies as well as Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency trading platform Coinbase.

CoinDCX has raised close to $19.4 million to date.

Sumit Gupta, CEO and co-founder of CoinDCX said, “Our team tripled in number from 30 in March to 90 in December, and we are continuing to hire. The funds will help us develop Bitcoin & Crypto Investment App CoinDCX Go. The app aims to onboard 50 million Indians into the cryptocurrency market.”