Prominent Indian bitcoin startup Unocoin has raised a national record-setting $1.5 million in a Pre-Series A funding round from a group of international and Indian venture capital funds.
On Sept 28, Bengaluru-based Unocoin said that it has raised $1.5 million in funding from a mix of Indian and US investors.
Indian-based Unocoin, a popular bitcoin wallet, has announced that it is launching a bitcoin-OTC platform for high volume traders.
The latest push comes in the form of Unocoin, a Karnataka-based Bitcoin trading platform, which today announced the launch of its new mobile application for Apple users. The portable mobile software, in line with Unocoin’s desktop platform, is a Bitcoin wallet for buying, selling and trading Bitcoins.
As Bitcoin has started to take a stand in India, Unocoin being India's leading Bitcoin company, has been up to something that is going to make it much easier for physical and online stores in India to accept bitcoin. Before getting into that, it is important to note that India is on the verge of a tipping point on the digital movement.
“India has one of the largest unbanked populations, 50% of the population is unbanked, I think Bitcoin can play a part in banking the unbanked.”“If you look at the Internet, India was fairly late to that party as well but once they showed up, there was no stopping them. I think the same thing is happening with Bitcoin.”“Unocoin is the leading Bitcoin Company in India and we are a wallet service similar toCoinbase[.]”
Sathvik has over 15 years of entrepreneurial experience building software systems in the financial and virtual reality industry. He has an MBA in IT and Business from University of Melbourne.
Sunny has over 15 years of business development experience in the robotics and financial industries. He is an electrical engineer from the University of Toronto. Previously, Sunny helped establish Butterocin's presence, a Google Ventures + YC backed bitcoin marketplace in the U.S.
Harish has 15 years of experience in the financial and telecommunications industry. He is a Computer Science and Telecommunications engineer from Siddaganga Institute of Technology.
Abhinand has over 5 years of entrepreneurial experience building marketing and networking system in the communications industry. He is a Computer Science Engineer from R V College of Engineering.