A16z, Coinbase lead Indian crypto firm to unicorn club with $260m raise

India-based CoinSwitch Kuber, a cryptocurrency investment platform, has raised US$260 million in its latest round of funding at a valuation of US$1.9 billion.

More funding details

• Lead investors: Andreessen Horowitz and Coinbase Ventures
• Returning investors: Paradigm, Ribbit Capital, Sequoia Capital India, and Tiger Global
• Stage: Series C

More company updates

• CoinSwitch Kuber will use the fresh funds to onboard 50 million Indians to its platform and introduce new crypto products such as lending and staking.
• The company said it will set up an ecosystem fund to identify a talent pool that can build products and protocols in cryptocurrencies.
• The firm is also looking to ramp up hiring across its engineering, product, data, and growth teams.
• CoinSwitch Kuber said it will add multiple avenues of investment for its users through new products and asset classes. It will also onboard institutional investors by offering them a product that serves their end-to-end requirements.
• In a bid to help investors navigate new asset classes, CoinSwitch Kuber will use part of the new funds to educate its users about cryptocurrencies.
• The startup raised US$25 million from Tiger Global at a valuation “well over” US$500 million in April.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.