India got $638 million funding crypto in 2021

India has got about $638 million in funding for crypto and blockchain related industries in 2021. Let’s find out more about this.

Introduction

India has been a tussle ground for Cryptocurrencies. While Cryptocurrencies have been expanding grounds in India. The baton of regulations is just about to strike it.

Crypto have been seeing some good days lately. 2021 has been quite a nice year for Cryptocurrencies. Data by Crypto industry tracker Tracxn revealed some interesting stats about crypto related investments. The Crypto industry received a funding of $24.86 billion across 930 funding rounds.

Meanwhile, India received a funding of about $638 million across 48 rounds. These investments were mostly done by foreign investors investing in Crypto and Blockchain related start-ups. India’s crypto Industry has seen a boom in the last year. Successful projects like Polygon and Instadapp took off in 2021. Also, these start-ups have raised the awareness and popularity of Cryptocurrencies in India. This in turn has pulled more small scale Investors in Cryptocurrencies.

Companies investing in India

Many multinational companies have invested or are interested to invest in India. The popular venture capital firm Andreessen Horowitz is among the companies that entered the Indian market in 2021. The company entered India through its investment in the popular crypto trading platform CoinSwitch Kuber.

Another venture capital firm, San Mateo, is looking to establish itself in India. Additionally, Antler India will invest in 25-30 start-ups in blockchain and Web 3.0 domain in the following 2-3 years.

Indian Investors are also pooling in money for development in crypto and blockchain related technologies. Companies such as Elevation Capital, Sequoia Capital India, and Kalaari Capital are backing NFT projects and DeFi related projects.

Conclusion

India has got about $638 million in funding for crypto and blockchain related industries in 2021. Hopefully, 2022 will also be a remarkable year for Cryptocurrencies. Indeed, with more money pooling in and investment pouring in the industry, we will find new advancements in the industry.

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