THELOGICALINDIAN - BANGALORE India Unocoin a Bangalore based Bitcoin startup has aloft 15 actor USD in a Pre SeriesA annular the accomplished absolute aloft for a agenda bill adventure in Indian history
Also read: The War on Bitcoin Has Only Just Begun With Mike Hearn Leaving
Unocoin Gets a Boost from Big Players Like DCG
Funding was sourced from acclaimed Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures, forth with arresting all-embracing investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital and FundersClub.
“We’re honoured to accept this blazon of abutment from top investors,” remarked Unocoin co-founder and CEO, Sathvik Vishwanath. “We started from my baby hometown alleged Tumkur abreast Bangalore and our ambition from the alpha was to accomplish it accessible to get bitcoin in India. A few years later, we are now headquartered in Bangalore with 30 employees, confined added than 100,000 barter beyond the country and growing exponentially.”
Also, according to Vishwanath, India is an optimal area for a Bitcoin startup, as it is home to the better gold, entering remittance, and IT markets in the world. He believes this makes India a absolute home for bitcoin and blockchain solutions.
Blume Ventures, headquartered in Mumbai, has played a cardinal role in arch the Unocoin Pre Series A round. According to Karthik Reddy of Blume Ventures, they were encouraged by the Unocoin team, which ultimately advance them to participate in the fundraiser.
Digital Currency Group, based in New York City, supports Bitcoin and blockchain companies by leveraging their insights, network, and admission to basic with over 80 investments in added than 25 countries. Barry Silbert, Founder and CEO of Digital Currency Group, said:
FundersClub, addition actor in the round, is a arch online VC headquartered in San Francisco and operates globally, with portfolio companies including Slack, Instacart, and Coinbase.
Boris Silver, Co-Founder and President of FundersClub, said, “We are captivated to accomplice with and aback Unocoin as a portfolio aggregation in the Fun
dersClub community. We were afflicted with the company’s vision, team, growth, and ample bazaar opportunity. Blockchain technology has amazing abeyant and we’re aflame to abutment Unocoin as they abide to innovate, lead, and assassinate in the space.”
Commenting on their advance into Unocoin, Harshad Lahoti, architect and CEO of ah! Ventures said, “It’s no abstruse that acceptance of bitcoin is acrimonious up rapidly and the abstraction has apparent a balmy acceptable from freelancers and retailers in India. That’s back Unocoin, a adventure backed by a able aggregation with industry accuracy and a rocketing cardinal of users, bent our attention. We accept Unocoin will abide to be one of the arch players in India’s booming crypto-currency market.”
Worth acquainted is that ah! Ventures is India’s aboriginal full-spectrum startup advance arrangement and belvedere absolute of over 700 investors, including acclaimed angels and early-stage VCs.
Even the accepted banking reporter, Max Keiser, is on lath with Unocoin, adage “Unocoin is arch the allegation back it comes to bringing bitcoin to India. We are aflame to be alive with this world-class aggregation and attending advanced to acknowledging their connected advance trajectory.”
In accession to all of this, Unocoin’s Vishwanath added that, “We accept that we’re at the aurora of a new change area money itself is actuality reinvented. We adulation seeing so abounding of the smartest cryptographers, mathematicians, and computer scientists from all over the apple alive calm to calibration Bitcoin to the masses.
Vishwanath concluded, “We accept a bright eyes actuality at Unocoin: let’s Make Money Simple.”
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Images Courtesy of Wallsus.com , Barry Silbert, Unocoin
