Tuesday, March 2, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact
No Result
View All Result
Tech News, Magazine & Review WordPress Theme 2017
  • Tech

    Lawsuit in US accuses Amazon of ‘systemic’ racism in corporate offices

    Six Dr. Seuss books pulled for ‘hurtful and wrong’ images

    Rules notified for Code on Wages Advisory Body

    Telecom Spectrum auctions fetch Rs 77,815 cr; Reliance Jio top bidder with Rs 57,122 cr

    Twitter rolling out Spaces for Android users globally for wider testing

    ITU-APT Foundation India asks DoT to free 60 Ghz band, partly licence 70 Ghz band

    You really need to lower your headphone volume, Apple warns

    Zoom projects annual sales signalling growth after Covid-19 pandemic

    City scraps influencer plan for George Floyd murder trial

  • Apps
  • Computers
  • Camera
  • Mobile
  • Smart Devices

    LG Launches 48-Inch OLED 4K TV With Gaming Features, HDR Support in India

    OnePlus 9 Series Announcement Teased for March 8

    Michael Kors Access Gen 5E Darci Smartwatch Now Available in India

    Amazfit GTS 2 Review

    OnePlus 9 Series and OnePlus Watch Tipped to Launch March 23

    Moto Watch, Moto Watch One, Moto G Smartwatch Images Surface Online

    Redmi Max 86-inch Ultra-HD TV with 120Hz Refresh Rate Launched

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

  • Software
  • Audio

    Sony PCM-A10 Voice Recorder With Three-Way Adjustable Microphone Launched

    Saregama Carvaan Karaoke Review

    Make Customer Interactions More Efficient in a Work-From-Home Environment

    Boat TRebel Headphones and Earphones Range for Women Launched

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

    Redmi AirDots 3 TWS Earphones With 7-Hour Battery Life Launched

    RedmiBook Pro 14, RedmiBook Pro 15 With 11th-Gen Intel Processors Debut

    Noise Buds Solo TWS Earphones With Hybrid ANC Launched in India

    WandaVision’s ‘Agatha All Along’ Song Out on Spotify, Apple Music, Others

  • TV
  • Tech

    Lawsuit in US accuses Amazon of ‘systemic’ racism in corporate offices

    Six Dr. Seuss books pulled for ‘hurtful and wrong’ images

    Rules notified for Code on Wages Advisory Body

    Telecom Spectrum auctions fetch Rs 77,815 cr; Reliance Jio top bidder with Rs 57,122 cr

    Twitter rolling out Spaces for Android users globally for wider testing

    ITU-APT Foundation India asks DoT to free 60 Ghz band, partly licence 70 Ghz band

    You really need to lower your headphone volume, Apple warns

    Zoom projects annual sales signalling growth after Covid-19 pandemic

    City scraps influencer plan for George Floyd murder trial

  • Apps
  • Computers
  • Camera
  • Mobile
  • Smart Devices

    LG Launches 48-Inch OLED 4K TV With Gaming Features, HDR Support in India

    OnePlus 9 Series Announcement Teased for March 8

    Michael Kors Access Gen 5E Darci Smartwatch Now Available in India

    Amazfit GTS 2 Review

    OnePlus 9 Series and OnePlus Watch Tipped to Launch March 23

    Moto Watch, Moto Watch One, Moto G Smartwatch Images Surface Online

    Redmi Max 86-inch Ultra-HD TV with 120Hz Refresh Rate Launched

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

  • Software
  • Audio

    Sony PCM-A10 Voice Recorder With Three-Way Adjustable Microphone Launched

    Saregama Carvaan Karaoke Review

    Make Customer Interactions More Efficient in a Work-From-Home Environment

    Boat TRebel Headphones and Earphones Range for Women Launched

    Apple Spring Event 2021: Here’s What iPhone Maker Could Launch Next Month

    Redmi AirDots 3 TWS Earphones With 7-Hour Battery Life Launched

    RedmiBook Pro 14, RedmiBook Pro 15 With 11th-Gen Intel Processors Debut

    Noise Buds Solo TWS Earphones With Hybrid ANC Launched in India

    WandaVision’s ‘Agatha All Along’ Song Out on Spotify, Apple Music, Others

  • TV
No Result
View All Result
Indian Technology News
No Result
View All Result
Home Tech

Tim Draper invests undisclosed amount in Unocoin, valuation rises to $20 mn

October 8, 2020
Share on FacebookShare on Twitter

Bengaluru-based cryptocurrency exchange startup Unocoin is finalising its Series A funding round for $5 million. The round thus far is led by Tim Draper’s Draper Associates, with participation from XBTO Ventures and 2020 Ventures, veteran investors in the digital asset industry. The Series A funding round raises Unocoin’s valuation to US$20 million.

Following the lifting of the Reserve Bank of India’s ban on digital asset trading, Unocoin’s latest fundraise will bolster its continued growth in India, allow it to build a stronger technology team, and enhance its product infrastructure and offerings. Notable developments in the pipeline include expansion into Decentralised Finance (DeFi) with its own protocols and the implementation of a new AI-based chatbot system to improve customer support.

Sathvik Vishwanath, CEO of Unocoin, said of the investment, “We’ve seen a dramatic increase of crypto adoption in India following the lifting of an industry-wide ban by the Reserve Bank of India enacted in 2018. Customer growth rates have surged by more than 10X in the month the Supreme Court verdict was announced, accompanied by a 5X increase in trading volume in subsequent months. The funding will help us scale our business further, and give us a strong financial foothold to expand our platform’s offerings. We will double down on our efforts to improve our product features and offerings, which will enhance the overall usability and functionality for our customers.”

Tim Draper, Founder of Draper Associates, which is known for its success from early investments into high valuation companies such as Tesla, Skype, and Twitter said: “We were delighted to hear the verdict by the Indian Supreme Court, and we had been tracking Unocoin, the leader in India for Bitcoin for years. We are so thrilled that the stars aligned and we could finally back Unocoin. Every Indian should have a Bitcoin account with Unocoin. It is a great way to do business in a currency that doesn’t devalue over time.”

Established in 2013, Unocoin operates India’s largest BTC-INR trading platform which enables users in India to transact and store bitcoin. Other crypto assets tradeable on the Unocoin Exchange include: LTC, XRP, ETH, BCH, BTG, and various ERC20 tokens. As a pioneer of India’s crypto industry, Unocoin boasts leading innovation in digital asset trading such as the Bitcoin Systematic Buying Plan (SBP), Crypto lending, Crypto interest earning, Bitcoin Point of Sale (POS) App and Bitcoin Over-The- Counter trading (OTC) — all of which offers convenience and ready access to a wide array of digital products seamlessly and securely.

Unocoin has previously raised more than US$3 million from a range of reputable investors, including Digital Currency Group led by Barry Silbert, Boost.vc led by Adam Draper, and India based VC Blume Ventures.

“The potential for widespread crypto adoption in India is massive. Many in India remain underserved by traditional payment systems, increasing bitcoin’s attractiveness as an alternative currency. We are proud of our team’s resilience and commitment amidst the regulatory shifts and are excited to work with our partners — both new and old — to shape the future of cross-border payments, microtransactions and lending in India,” added Sunny Ray, President of Unocoin.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Topics

Credit: www.livemint.com

Tags: Reserve Bank of IndiaTim Draper
Previous Post

LG W31 Specifications Leak via Google Play Console, Imminent Launch Tipped

Next Post

Qualcomm to Launch Its Own Gaming Phone in Partnership With Asus: Report

Techie

Techie

Next Post

Qualcomm to Launch Its Own Gaming Phone in Partnership With Asus: Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Audio
  • Smart Devices
  • Tech

Tags

5G Amazon Android Android 11 Apple bharti airtel BJP ces 2021 China Congress coronavirus covid 19 Donald Trump Facebook FLIPKART Google Huawei India Instagram IOS iPhone iPhone 12 iphone 12 pro Jio Joe Biden mi Microsoft Motorola Narendra Modi OnePlus OPPO Realme redmi Samsung samsung galaxy s21 ultra Smartphones Social media Tech TikTok Twitter Vivo Vodafone Idea whatsapp Xiaomi youtube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Indi Tech News, Website By Maarich

No Result
View All Result
  • Home

© 2020 Indi Tech News, Website By Maarich