Indian crypto exchange CoinSwitch Kuber raises $260 million in Series C funding from a16z and others

Quick Take

  • Indian crypto exchange CoinSwitch Kuber has raised $260 million from a16z, Coinbase Ventures, and others.
  • CoinSwitch Kuber is now a unicorn and this is notably a16z’s first investment in India. 

Indian cryptocurrency exchange CoinSwitch Kuber has raised $260 million in a Series C funding round and is now a unicorn valued at $1.9 billion.

New investors Andreessen Horowitz (a16z) and Coinbase Ventures backed the round, along with existing investors Paradigm, Ribbit Capital, Sequoia Capital India, and Tiger Global. This is a16z's "first general investment" in India, not just its first crypto investment, CoinSwitch's chief business officer Sharan Nair told The Block.

"We are incredibly excited about the crypto market opportunity in India, and with its breakout growth, CoinSwitch has emerged as the leading retail platform in the country," said David George, general partner at Andreessen Horowitz.

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