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In 2021, India will get $638 million in blockchain and cryptocurrency funding

According to statistics shared with ET by industry tracker Tracxn, India received $638 million in crypto and blockchain investments in 48 rounds in 2021. A total of $24.86 billion was raised in 930 financing rounds for crypto and blockchain investments globally.

According to statistics shared with ET by industry tracker Tracxn, India received $638 million in crypto and blockchain investments in 48 rounds in 2021. A total of $24.86 billion was raised in 930 financing rounds for crypto and blockchain investments globally.

With a thriving developer ecosystem, rising awareness and interest among retail investors in tokens and cryptocurrencies, and the emergence of successful projects like Polygon and Instadapp out of India, crypto and blockchain startups in the country have seen unprecedented investor capital inflow from international ventures.

Andreessen Horowitz, a startup capital firm based in Silicon Valley, made its first investment in India this year with CoinSwitch Kuber, a cryptocurrency trading platform.

Antler India is aiming to invest in 25-30 blockchain and Web 3.0 firms within the next 2-3 years, according to Draper Dragon, a VC firm based in San Mateo, California.

Indian investors are also beginning to plan dedicated crypto funds and try out certain investments.

Non-fungible token (NFT) projects, decentralised finance (DeFi), and other ventures have been backed by Elevation Capital, Sequoia Capital India, and Kalaari Capital.

Experts predict that funding will flow into the Web 3.0 market, which includes decentralized tools and projects like NFTs, crypto exchanges, and protocols.

According to a Chainalysis research from October, India’s cryptocurrency industry expanded 641 percent from July 2020 to June 2021, assisting in the transformation of a region spanning central and southern Asia and Oceania into one of the world’s fastest-growing cryptocurrency economies.

Despite a proposed bill that would outlaw “all private cryptocurrencies,” the sector has prospered.

The majority of the money was put into crypto selling platforms this year, such as CoinDCX and CoinSwitch Kuber, which both have $1 billion values and are considered unicorns.

Crypto exchanges have been able to expand their operations and spend more money on advertising because to the record investment. In July, a lawsuit was launched against cryptocurrency exchanges WazirX, CoinSwitch Kuber, and CoinDCX, demanding India’s capital markets regulator to provide guidelines and take action against marketing that did not include standard disclaimers.

With a thriving developer ecosystem, rising awareness and interest among retail investors in tokens and cryptocurrencies, and the emergence of successful projects like Polygon and Instadapp out of India, crypto and blockchain startups in the country have seen unprecedented investor capital inflow from international ventures.

Andreessen Horowitz, a startup capital firm based in Silicon Valley, made its first investment in India this year with CoinSwitch Kuber, a cryptocurrency trading platform.

Antler India is aiming to invest in 25-30 blockchain and Web 3.0 firms within the next 2-3 years, according to Draper Dragon, a VC firm based in San Mateo, California.

Indian investors are also beginning to plan dedicated crypto funds and try out certain investments.

Non-fungible token (NFT) projects, decentralised finance (DeFi), and other ventures have been backed by Elevation Capital, Sequoia Capital India, and Kalaari Capital.

Experts predict that funding will flow into the Web 3.0 market, which includes decentralized tools and projects like NFTs, crypto exchanges, and protocols.

According to a Chainalysis research from October, India’s cryptocurrency industry expanded 641 percent from July 2020 to June 2021, assisting in the transformation of a region spanning central and southern Asia and Oceania into one of the world’s fastest-growing cryptocurrency economies.

Despite a proposed bill that would outlaw “all private cryptocurrencies,” the sector has prospered.

The majority of the money was put into crypto selling platforms this year, such as CoinDCX and CoinSwitch Kuber, which both have $1 billion values and are considered unicorns.

Crypto exchanges have been able to expand their operations and spend more money on advertising because to the record investment. In July, a lawsuit was launched against cryptocurrency exchanges WazirX, CoinSwitch Kuber, and CoinDCX, demanding India’s capital markets regulator to provide guidelines and take action against marketing that did not include standard disclaimers.

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Written by Trevanna Gordon

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