CoinSwitch launches Web3 Discovery Fund for emerging blockchain startups

Crypto trading platform CoinSwitch Kuber has launched Web3 Discovery Fund to invest in and incubate up to 100 early-stage blockchain startups in the web3 space.

Through the fund, which has an initial corpus of $10 million, CoinSwitch will provide its portfolio startups access to prominent investors such as Tiger Global, Sequoia Capital, Coinbase Ventures and Ribbit Capital, among others. It will also give them access to AWS Activate Portfolio to receive the necessary technical training, support and resources.

“The venture programme 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,” Ashish Singhal, CEO, CoinSwitch Kuber, said in a statement.


Founded in 2017, CoinSwitch became a unicorn last year after it closed a $260 million funding round co-led by Silicon Valley venture capital giant Andreessen Horowitz, valuing it at $1.9 billion.