🇮🇳 Roundup: Tax regulators target crypto startups, and other news

Startups in India, including Mamaearth and Groyyo, have collectively raised about US$56.6 million today in disclosed funding.

Here’s a snapshot of the fundraising:

Here are some other important tech news from the country today:

Tax regulator cracks down on four more crypto exchanges

The Directorate General of Goods and Services Tax Intelligence (DGGI) has added Coinswitch Kuber, CoinDCX, BuyUCoin, and Unocoin to its list in an ongoing investigation of cryptocurrency exchanges being used for tax evasion.

Mint reported that 700 million rupees (US$9.4 million) have already been traced by DGGI.

Last week, a local Goods and Services Tax regulatory body cracked down on WazirX, where they recovered 405 million rupees (US$5.4 million) worth of unpaid taxes, interest, and penalties.

Square Yards looks to go public

The real estate platform is looking at raising at least 10 billion rupees (US$134.5 million) through an IPO, reported Mint, citing sources.

Should its plans go through, Square Yards would be the first real estate startup in the country to go public. Outside of India, it has operations in the United Arab Emirates, Australia, and Canada.

Follow the rest of our India coverage here.

Currency converted from Indian rupee to US dollar: US$1 = 74.36 rupees.