Indian Crypto Exchange CoinDCX raises $2.5M
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Indian crypto trading platform CoinDCX has just raised $2.5M, The Block reports.

Two months after completing its Series A fundraising, the exchange has received an additional $2.5M injection from Polychain Capital and Coinbase Ventures.

CoinDCX reportedly plans to use the funds to establish a center of excellence to promote crypto adoption in India as well as to launch several new products for retail investors, including loans.

This new capital injection comes just 2 months after the platform completed a Series A fundraising in which it attracted $3M. The company reportedly decided to carry out a new fundraising because its final goal is to attract 50 million users to its #TryCrypto campaign. The funds will be used to organize educational initiatives and events and promote community engagement.

The initiative was launched in March with a budget of $1.3M with the aim of raising awareness among Indian users about cryptos and promoting its adoption in the country.

The platform cofounder and CEO Sumit Gupta said CoinDCX aims to build a complete crypto platform capable of meeting the needs of all investors and traders.

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