Unocoin, a Bangalore-based bitcoin startup, has lifted $1.5 million in appropriation from a brew of Indian and U.S. investors, a association announced on Thursday.
The company, that runs a trade height to buy, sell, and store bitcoins for Indian customers, pronounced a income lifted was a largest for an Indian bitcoin startup. Unocoin, that has 100,000 users and some-more than 30 employees, has been in operation given Dec 2013.
Unocoin describes itself as a Coinbase of India. San Francisco-based Coinbase is a largest U.S. bitcoin association and runs an sell and a wallet service, among other businesses.
Funding came from Indian entities such as Blume Ventures, Mumbai Angels, and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to a Future, and FundersClub.
Digital Currency Group was founded by one of a tip U.S. bitcoin investors Barry Silbert, while Boost VC is run by U.S.-based Adam Draper, a son of billionaire businessman Tim Draper.
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“We indispensable a apart sell for India. A few years ago when we wanted to buy bitcoin, there was zero accessible in India,” Sunny Ray, Unocoin’s co-founder and boss told Reuters in an interview. “So if we wish to buy