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<ul><li>The Web3 Discovery Fund will invest in early-stage startups building blockchain solutions for the Indian Web3 landscape. </li><li>The $10 million web 3 fund will also provide technical support to early stage Indian web 3 startups. </li><li>Web3 development and innovation in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> witnessed investments worth over $500 million in 2021 alone. </li></ul> <keyword id="10587326" type="General" weightage="100" keywordseo="coinswitch" source="Orion">CoinSwitch</keyword>, one of India’s largest crypto exchanges, on Tuesday announced the launch of corporate venture capital ‘Web3 Discovery Fund’ worth $10 million. The fund will invest in and incubate early-stage startups building blockchain solutions for the evolving Web3 landscape in India. Despite the ongoing crypto winter, there has been a steady influx of capital for Indian web 3 startups. Web3 development and innovation in India witnessed investments worth<a href="https://www.bain.com/insights/india-venture-capital-report-2022/"> $500 million+</a> in 2021. Coinswitch’s Web3 Discovery Fund, with an initial corpus of $10 million, will provide single-window access to investor partners <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, Elevation Capital, alongside incubation partner <keyword id="13041888" type="General" weightage="50" keywordseo="buidlers-tribe" source="Orion">Buidlers Tribe</keyword>. CoinSwitch Web3 Discovery Fund’s startups can apply for AWS Activate Portfolio and receive AWS credits, technical support, training, and resources. The early-stage portfolio startups will also be able access CoinSwitch's in-house capabilities, ecosystem network, and its 18 million-strong user base. “The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realise this vision of #MadeinIndia Web3, we have to identify and enable entrepreneurs and early-stage startups leveraging the potential of Crypto to solve real-world problems unique to India," said Ashish <keyword id="16058" type="General" weightage="50" keywordseo="singhal" source="Orion">Singhal</keyword>, co-founder and CEO, CoinSwitch. Coinswitch was founded in 2017 by Singhal, Govind Soni and <keyword id="14675613" type="General" weightage="50" keywordseo="vimal-sagar-tiwari" source="Orion">Vimal Sagar Tiwari</keyword> and is backed by blue chip investors including <keyword id="508487" type="General" weightage="50" keywordseo="andreessen-horowitz" source="Orion">Andreessen Horowitz</keyword>, Tiger Global, Sequoia Capital India, Ribbit Capital, Paradigm, and Coinbase Ventures.

CoinSwitch launches $10 million Web 3 Discovery Fund to invest in early-stage Indian startups

<keyword id="21168903" type="General" weightage="20" keywordseo="Lemonn" source="keywords" meta.keywordsubtype="org" meta.entityname="Lemonn" meta.hostid="261" meta.entityid="Lemonn">Lemonn</keyword>, a platform launched by <keyword id="21168904" type="General" weightage="20" keywordseo="PeepalCo" source="keywords" meta.keywordsubtype="org" meta.entityname="PeepalCo" meta.hostid="261" meta.entityid="PeepalCo">PeepalCo</keyword>, has introduced a <keyword id="21747741" type="General" weightage="20" keywordseo="zero-commission" source="keywords">zero-commission</keyword> <keyword id="19929240" type="General" weightage="100" keywordseo="mutual-funds" source="keywords">Mutual Funds</keyword> <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> service. This comes a fortnight after the platform launched Futures and Options trading with zero brokerage for 1 year and a lifetime free account. PeepalCo is founded by <keyword id="10180576" type="General" weightage="20" keywordseo="ashish-singhal" source="Orion">Ashish Singhal</keyword>, Govind Soni, and Vimal Sagar Tiwari — founders of Crypto platform <keyword id="10587326" type="General" weightage="20" keywordseo="coinswitch" source="Orion">CoinSwitch</keyword>. The company launched the Lemonn platform in April to simplify the investment process for investors. With this, the Bengaluru-based company has entered into direct competition with some of the top Indian stock broking apps including Zerodha, Groww and Upstox. With the zero-commission Mutual Funds, Lemonn aims to help new investors diversify their portfolios with ease. Users can now invest in mutual funds directly through the app, starting with as little as INR 100, and track investments made on third-party apps using the Portfolio Import feature. Lemonn offers schemes from over 40 fund houses, including major AMCs like HDFC, SBI, and Axis. Devam Sardana, Business Head at Lemonn, commented on the launch, “Our goal is to empower first-time investors to gain a deeper understanding of the investment landscape. Thus, Introducing mutual funds on Lemonn is a natural step forward for us. The rapid growth of India's mutual funds industry, outpacing countries like the US, Japan, and China, underscores a clear and growing demand. This demand can be further enhanced by offering simple, transparent, and affordable products.” This launch follows the recent introduction of Futures and Options (F&amp;O) trading on the platform, which also features zero trading brokerage for equity investors. The company claims that the user-centric design and intuitive app interface streamline the trading experience, enabling traders to execute F&amp;O trades with live trading charts in just four clicks. During its launch, Devam Sardana highlighted the surge in the Indian stock market and the opportunities it presents, expressing excitement about empowering users to capitalize on these prospects. Lemonn offers a lifetime free account with no opening or annual maintenance charges, and the zero-trading brokerage will be available for one year for all users. Additionally, the company is preparing to announce another new product within the next two months. The PeepalCo Group is backed by blue-chip investors including Andreessen Horowitz (a16z), Tiger Global, Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Paradigm, and Coinbase Ventures. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

After F&O trading platform, CoinSwitch's founders launch zero-commission Mutual Funds with Lemonn

<ul><li>With the investment, which has come amidst a boom in the <keyword id="2721952" type="COMPANY" weightage="20" keywordseo="crypto">crypto</keyword> market, the valuation of the startup has jumped over $500 million.</li><li>The funding for <keyword id="10587326" type="UNKNOWN" weightage="20" keywordseo="CoinSwitch">Coinswitch</keyword> Kuber comes just four months after it had raised $15 million.</li><li>Coinswitch Kuber also claims that its user base has multiplied over four times in the same period.</li></ul>Indian <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> exchange Coinswitch Kuber has raised $25 million from Tiger Global. With the investment, which has come amidst a boom in the crypto market, the valuation of the startup has jumped over $500 million. "As they build India’s leading cryptocurrency platform, CoinSwitch is well positioned to capture the tremendous growing interest in crypto among retail investors. We are excited to partner with CoinSwitch as they innovate in this emerging asset class,” said Scott Shleifer, Partner, Tiger Global. The funding for Coinswitch Kuber comes just four months after it had raised $15 million from global fintech and crypto investor Ribbit Capital, San-Francisco based crypto focused investment firm, Paradigm and Sequoia Capital India. Paradigm was founded by Matt Huang and Fred Ehrsam, co-founder of <keyword id="1972612" type="COMPANY" weightage="20" keywordseo="Coinbase">Coinbase</keyword>, the US-based cryptocurrency firm which has made news for its recent blockbuster stock market debut. Coinswitch Kuber also claims that its user base has multiplied over four times in the same period. Founded in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, Coinswitch Kuber plans to onboard 10 million users this year. “This investment round brings us at par with some of the most sought after cryptocurrency companies in the world and sets us up for the long run,” said Ashish Singhal, CEO and Co-founder, CoinSwitch Kuber, in a statement.

Tiger Global makes its first crypto investment in India making Coinswitch Kuber worth half a billion dollars

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CoinSwitch launches $10 million Web 3 Discovery Fund to invest in early-stage Indian startups

Eetika Kapoor

After F&O trading platform, CoinSwitch's founders launch zero-commission Mutual Funds with Lemonn

Deekshith Pinto

Tiger Global makes its first crypto investment in India making Coinswitch Kuber worth half a billion dollars

Sanchita Dash

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