Crypto startup CoinSwitch Kuber is 30th Indian unicorn with $260 mn funding

India clocked its 30th unicorn today — and its second in the crypto universe. Named after the god of wealth, CoinSwitch Kuber, the country’s fast-growing and most valuable crypto asset platform, closed a $260 million Series C funding round from Andreessen Horowitz (a16z), Coinbase Ventures and existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global. With this, it hit a valuation of $1.9 billion — shooting past CoinDCX, India’s other crypto unicorn, which had announced a $1.1-billion valuation in August this year.

One of the early pioneers of the crypto economy, Bengaluru-based CoinSwitch Kuber operates among the world’s largest crypto exchanges. “The CoinSwitch Kuber team,” said co-founder and CEO Ashish Singhal, “has worked round the clock to be the most preferred platform for crypto investors in India.