Indian Cryptocurrency platform CoinDCX has raised $3 million in Series A funding.

This funding round was led by Bain Capital Ventures, Polychain Capital, and HDR Group – operator of BitMEX(a cryptocurrency exchange), along with other venture capitalists.

Founded by Neeraj Khandelwal and Sumit Gupta, this Mumbai based cryptocurrency exchange became India’s first cryptocurrency exchange to integrate bank account transfers.

And to promote the adoption of crypto in India, CoinDCX, last week, announced the launch of a campaign, ‘TryCrypto‘.

Under this campaign, a sum of $1.3 million will be used to bring the total number of Indian crypto users to 50 million.

Talking about this funding round, Sumit Gupta, CEO and Co-founder of CoinDCX, said,

“As the country’s largest exchange, we are in a position to drive national crypto adoption forward responsibly….With a slew of exciting projects in the pipeline, the closure of our Series A is the first step in a new chapter in the CoinDCX story as we continue to drive the mass adoption of crypto assets in India.”