Coinswitch Kuber Secures $260M Funding, Dominates the Indian Market
- CoinSwitch Kuber successfully raised funding amounting to $260 million.
- The exchange became the largest crypto company in India.
CoinSwitch Kuber, an Indian exchange, has successfully raised a Series C funding amounting to $260 million. In detail, the funding event was led by Coinbase (NASDAQ:COIN) Ventures and Andreessen Horowitz. Furthermore, the previous investors of the exchange, such as Sequoia, Paradigm, Ribbit, and Tiger Global, also participated in the event.
This event made CoinSwitch Kuber react in a tweet post:
A $1.9 billion crypto dream! We’re officially India’s LARGEST CRYPTO UNICORN!
Excited to announce our Series C funding of $260+mn led by @a16z & @Coinbase, along with Tiger Global @RibbitCapital @paradigm & @Sequoia_India
CoinSwitch, making Crypto happen! #KuchTohBadlega pic.twitter.com/peJxxjzWN9
— CoinSwitch Kuber (@CoinSwitchKuber) October 6, 2021
Today, CoinSwitch Kuber became the largest crypto company in the country with $1.91 Billion as its total value. In particular, this statement has been announced by Ashish Singhal the CEO and Co-Founder of the exchange.
Ashish explained further:
Every evolution takes a leap of faith, we are taking a giant one today with CoinSwitch Kuber turning into a unicorn and becoming the largest crypto company in the country.
Ashish also added that the raised fund would be used carefully to expand and develop the crypto exchange. Some of the plans of CoinSwitch Kuber include the onboarding of 50 Million Indians on the exchange and becoming a one-stop shop for all information and knowledge about Crypto, to name a few.
On the other hand, there are also other exchanges in the crypto space that continue to earn investors’ trust. To be specific, the Binance network is one of the exchanges in the crypto space that continue to be trusted by traders and investors worldwide. Indeed, this is an achievement that the crypto world should celebrate.
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