Home arrow Article arrow Article Detail

Report - Indian crypto-exchange CoinSwitch Kuber is on track to become a unicorn start up

Profile Image

Pavan A Follow


Sep, 13 2021

Sep, 13 2021

likes 0 | comments 0

Article Image

CoinSwitch Kuber, an Indian crypto exchange, is in advanced talks to raise a fresh round of funding of up to $2 billion as per the report published on Tuesday. This would make CoinSwitch the second crypto unicorn after CoinDCX in the Indian crypto space.


According to TechCrunch, the start-up is in talks with Andreessen Horowitz and Coinbase. If the investment talks go through, Coinswitch Kuber will become the second Indian cryptocurrency firm to be named a unicorn, following B Capital-backed CoinDCX. CoinDCX raised $90 million in a Series C fundraising round led by B Capital Group last month at a valuation of $1.1 billion.


The startup has raised a total of $40 million this year through Series A and Series B funding rounds. The firm has raised $25 million from Tiger Global Management in April as part of its Series B fundraising round, at a valuation of more than $500 million


The companies have not yet responded, but the speculations about a possible investment appear to be gaining traction. Despite local regulations on crypto assets, the cryptocurrency market in India grew by 600 percent. The platform currently has over 7 million monthly active users in India, up from 4.5 million in April 2021, with a transaction volume of $5 billion in March 2021.


The Central Bank of India has expressed concern over private digital currencies while simultaneously planning a pilot program for its own digital currency launch before the end of 2021.

likes 0 Likes | comments 0 Comments

Profile Image

Pavan A

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.