CoinSwitch Kuber, an India-based crypto firm, has launched the Web3 Discovery Fund, which aims to incubate up to 100 Indian early-stage startups building blockchain solutions.
Photo credit: Shutterstock
The fund, which has an initial size of US$10 million, will also give portfolio startups access to the crypto firm’s investor partners such as Tiger Global, Coinbase Ventures, and Sequoia Capital India.
Portfolio startups have the option of applying for AWS credits, training, and resources through the fund itself, due to its status as an AWS Activate Provider. The companies will also be given access to CoinSwitch Kuber’s ecosystem network and user base.
“The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects,” said Ashish Singhal, co-founder and CEO of CoinSwitch Kuber, in a statement.
Founded in 2017, the crypto firm said it has over 18 million users. In April 2021, CoinSwitch Kuber raised US$25 million in a series B funding round led by Tiger Global.
See also: 50 rising startups in India
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
