CoinSwitch Kuber has joined the Unicorn Club, raising $260 million in a Series C funding round.
According to an official announcement on October 6, new funding propelled CoinSwitch Kuber to the “top” among India’s unicorns as the company became “India’s most valuable crypto company” with a value of $1.91 billion.
The funding round was led by Coinbase’s venture capital division, Coinbase Ventures and Andreessen Horowitz. Previous investors such as Sequoia, Paradigm, Ribbit and Tiger Global also participated in the round.
CoinSwitch Kuber plans to spend 50 million Indians on the platform and introduce new services such as lending and betting. Oslo Börss also expects to market an institutional quality product and to support many different investment options. Other planned measures include an innovative fund and a crypto education center.
“Every development requires faith, and today we are taking a giant leap forward with CoinSwitch Kuber being the unicorn and the largest crypto company in the country,” said CoinSwitch Kuber, co-founder and CEO of Ashish Singhal.
About it: US Crypto Exchange Expands Crosstower to India
CoinSwitch Cubes is one of the largest cryptocurrency exchanges in India along with platforms like WazirX and CoinDCX. Since its launch in 2020, CoinSwitch Kuber has amassed 10 million users since September 2021. The exchange previously raised $25 million from investors including Tiger Global in Series B in April, following $15 million in Series A in January.