Bangalore-based startup UnoCoin has raised an impressive $1.5 million in a pre-series A funding round, the largest sum ever comprised for a digital currency company in India’s history. Among the investors were Blume Ventures, Mumbai Angels, Bank to the Future, Bitcoin Capital, FundersClub, and Digital Currency Group and Boost VC, headed by Barry Silbert and Adam Draper respectively.
Expressing his enthusiasm, Silbert believes the company will do great things in the future:
“Since making our first investment in Unocoin, it has been tremendous to see the company solidify its position as the leading Bitcoin company in India, as well as emerge as one of the fastest growing companies in DGC’s global portfolio of 80 Bitcoin and blockchain companies.”
Adding to the mix was Draper, who’s company Boost VC is one of the first to commit itself to funding up-and-coming blockchain startups. Draper exclaimed:
“Unocoin continues to make an enormous impact on the global Bitcoin market, and will continue to be a global market leader. Proud to have them be a part of Boost VC. They just keep growing!!!”
In business since December 2013, the bitcoin company began in a small town called Tumkur (near Bengaluru). At the time, bitcoin had a