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Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX has rapidly emerged as one of India’s premier cryptocurrency exchanges. Headquartered in Mumbai, the company has positioned itself at the forefront of digital asset adoption in India by offering accessible and secure trading infrastructure for crypto investors. With the vision to democratize crypto access, CoinDCX provides a wide array of tokens and intuitive tools for retail and institutional users. The platform’s exponential growth is backed by top-tier global investors and reflects increasing trust in regulated crypto ecosystems.
| Founding Year | 2018 |
|---|---|
| Headquarters | Mumbai, India |
| Valuation | $1.5 Billion |
| Total Funding | $243.7 Million |
| Users | 13 Million+ |
| Employees | 535 |
| Revenue FY23 | ₹526.2 Cr |
| Net Profit (PAT) | ₹-414.1 Cr |
| EBITDA Margin | -78.7% |
| ROCE | NA |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Series D | Mar 29, 2022 | 135000000.0 | 1515199288 | Kindred Ventures, Republic, Kingsway Capital, Draper Dragon, Coinbase, Pantera Capital, Steadview, Cadenza, Polychain, B Capital, B Capital Group |
| Series C | Jun 17, 2021 | 90200000.0 | 778984352 | Polychain, Jump Capital, Bain Capital Ventures, Coinbase, Uncorrelated Ventures, B Capital, Block.one, B Capital Group |
| Series B | Sep 28, 2020 | 13900000.0 | 36404296 | Block.one, Polychain, Jump Capital, Uncorrelated Ventures, Mehta Ventures, Cadenza, Distributed Global, MV Capital Group, AHP, Coinbase, Block.one |
| Series A | May 26, 2020 | 2500000.0 | nan | Polychain, Cadenza, Coinbase |
| Series A | Mar 24, 2020 | 3000000.0 | nan | Polychain, Bain Capital Ventures, HDR Group |
| Seed | Mar 20, 2019 | 2116070.0 | 9630990.83 | Bain Capital Ventures, Shyn Capital, Polychain, Cadenza, Jet Investment |
CoinDCX's revenue surged from ₹13.5 Cr in FY21 to ₹526.2 Cr in FY23, reflecting strong growth in India's crypto adoption. However, its EBITDA losses deepened significantly to ₹414.1 Cr in FY23, primarily driven by rising customer acquisition and compliance costs.
EBITDA margins have consistently remained negative, dropping to -78.7% in FY23. This highlights profitability pressure and the impact of operational expenses despite revenue growth.
Employee count grew from 120 in FY21 to 535 in FY23, indicating expansion in engineering, compliance, and customer operations teams. The headcount scale-up aligns with product diversification and platform scalability efforts.
CoinDCX recently partnered with BITS Pilani to enhance blockchain research and education. The exchange also launched “Okto,” a Web3 wallet to simplify access to DeFi protocols for Indian users. These moves underscore its commitment to tech innovation and user empowerment.
| Metric | Details |
|---|---|
| Employees | 535 — Up from 430, driven by tech & compliance hires |
| Revenue | ₹526.2 Cr — Strong 78% YoY growth |
| PAT | ₹-414.1 Cr — Expanded losses despite scale |
| EBITDA Margin | -78.7% — Indicates cost inefficiencies |
| Strategic Investments | Web3 wallet “Okto”, DeFi products |
| IPO Status | In planning; dependent on regulation |
| Expansion Focus | Web3, DeFi, Education & Developer outreach |
| Latest News | Launched blockchain partnership with BITS Pilani |
CoinDCX is establishing itself as a pivotal player in India’s digital asset economy. With consistent funding, product innovation, and user growth, it has built strong foundations for the Web3 era. Despite profitability concerns, its long-term outlook remains positive due to strategic positioning and ecosystem efforts.
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