{"id":29786,"date":"2020-10-08T10:23:00","date_gmt":"2020-10-08T07:23:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29786"},"modified":"2025-08-27T18:55:40","modified_gmt":"2025-08-27T15:55:40","slug":"tim-drapers-draper-associates-leads-3-5m-series-a-for-indian-exchange-unocoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tim-drapers-draper-associates-leads-3-5m-series-a-for-indian-exchange-unocoin\/","title":{"rendered":"Tim Draper\u2019s Draper Associates leads $3.5m Series A for Indian exchange Unocoin"},"content":{"rendered":"<p>One of India&#8217;s oldest cryptocurrency exchanges, Unocoin, attracted $3.5 million in a Series A funding round led by Draper Associates, Tim Draper&#8217;s firm. According to <a href=\\\"https:\/\/www.theblockcrypto.com\/post\/80158\/indian-crypto-exchange-unocoin-funding-draper-associates?utm_source=rss&#038;utm_medium=rss\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">The Block<\/a>.<!--more--><\/p>\n<p>Unocoin CEO Satvik Vishwanath noted that the round is ongoing, and the company expects to raise a further $1.5 million in the coming months.<\/p>\n<p>According to Vishwanath, the funds raised have valued Unocoin at $20 million. He stressed that the company is profitable and that the financing can be seen more as \u201ca kind of insurance.\u201d<\/p>\n<p>The funds will be deployed to grow the client base and expand the workforce.<\/p>\n<p>Unocoin counts 1.3 million clients, of whom about 250 thousand are active.<\/p>\n<p>The head of the exchange noted that after March\u2019s lifting of the Reserve Bank of India (RBI) restrictions on crypto trading, trading volumes tripled. On average, the platform&#8217;s daily volume ranges from $400,000 to $545,000.<\/p>\n<p>Earlier, after the Supreme Court decision to overturn the RBI ban on banking services for crypto-trading companies, Tim Draper spoke of an impending \u201crenaissance\u201d of the country\u2019s blockchain industry and of plans to invest in startups in the sector.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of India&#8217;s oldest cryptocurrency exchanges, Unocoin, attracted $3.5 million in a Series A funding round led by Draper Associates, Tim Draper&#8217;s firm. According to The Block.<\/p>\n","protected":false},"author":1,"featured_media":29787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,278,954,1133],"class_list":["post-29786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-india","tag-tim-draper","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29786"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29786\/revisions"}],"predecessor-version":[{"id":29788,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29786\/revisions\/29788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29787"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}