1 August 2026
CoinDCX, The Largest Indian Crypto Exchange Raises $14M
India’s largest crypto exchange CoinDCX has raised Rs 100 crores ($13.9 million) in its third round of funding for the year 2020.
As per the 21st December announcement, the exchange has raised around $13.9 million from renowned industry investors like Coinbase and Polychain in its Series B funding round. It was led by major blockchain software firm Block.one and the new raise also included Singaporean investment firms such as Uncorrelated Ventures, Mehta Ventures, Alex Pack, Temasek, and Jump Capital.
It was the third round of funding in 2020 for CoinDCX and with that company’s total raised amounts to $19.4 million. Back in March, CoinDCX raised $3M in an A-series round from Polychain and BitMEX. In addition, the exchange was able to secure $2.5 million in Series A funding from investors like Coinbase and Bain Capital in May.
With newly raised funds CoinDCX plans to launch a new crypto investment app called CoinDCX Go. This application was launched in public beta on Dec. 10 as part of CoinDCX’s so-called “Try Crypto'' program, which aims to bring 50 million Indians to their crypto services.
In the past two decades, CoinDCX has seen a growth of 20% in trading volumes and 12% in new customers.
The CEO and co-founder of CoinDCX, Sumit Gupta said that CoinDCX tripled its staff from 30 employees in March 2020 to 90 employees in December. He said, “This has been the most exciting year for CoinDCX. While the pandemic forced everyone indoors, CoinDCX scaled up exponentially and continues to do so.”
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