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CoinSwitch Kuber has become India's second crypto unicorn, having raised over $260 Mn in Series C funding round, led by American venture capital firm a16z (Andreesen Horowitz) and Coinbase Ventures, at a valuation of $1.9 Bn. CoinSwitch also became the 30th unicorn startup in India
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According to Singhal, the newly acquired funds will be used to build up new asset classes. “These would be standard asset classes that you see in the market, not related to crypto," he said. “A lot of people who invest with us are under the age of 28 and are first time investors who haven’t invested in any other assets other than crypto.