CoinDCX has raised $90 million in its Series C funding round led by B Capital. The funding made the company valuation $1.1 billion. This also made CoinDCX the first crypto firm in India to become a unicorn.

Existing investors like Coinbase Ventures, Polychain Capital, Block.one, Jump Capital, and other angel investors also took part in the round. The latest funds will be used for marketing, growing the team and new business ideas, Sumit Gupta, Co-founder and CEO of CoinDCX, stated. The company has reserved Rs 10 crore for its educational ambitions across different platforms.

Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX serves people to buy and sell cryptocurrency. “In the upcoming months, CoinDCX will also be starting the CoinDCX Prime initiative, which is the latest offering in the HNI and Enterprise area, presenting legally vetted and safe investments, as well as Cosmex, CoinDCX’s global trading product,” Gupta added.