# Bitcipher Labs LLP

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bitcipher-labs-llp

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.coinswitch.co
- Total disclosed funding: $303M
- Latest round: Series C (Sep 23, 2021)
- Investors on record: 6

## About

Based in Bangalore, India, and founded in 2017 by Ashish Singhal, Govind Soni, and Vimal Sagar, Bitcipher Labs LLP, d.b.a. CoinSwitch Kuber operates as a developer of a cryptocurrency exchange aggregator platform that allows users to trade over several cryptocurrencies. In October 2021, Bitcipher Labs LLP raised USD 260 million in a Series C funding co-led by Andreessen Horowitz and Coinbase Ventures, with participation from Paradigm, Ribbit Capital, Sequoia Capital, and Tiger Global Management. The series C funding values Bitcipher Labs LLP at USD 1.9 billion post-money. Ashish Singhal is the CEO of Bitcipher Labs LLP.

Bitcipher Labs LLP provides a cryptocurrency exchange aggregator platform, CoinSwitch Kuber for users to buy, sell and trade cryptocurrencies. The platform supports more than 80 currencies and pools liquidity from leading cryptocurrency exchanges globally to enable users to trade in cryptocurrencies. 

The company generates revenue by charging INR 100 for trading in cryptocurrencies.
 
Bitcipher Labs LLP plans to use its proceeds from series C funding to expand its user base, introduce more crypto products such as lending, hire additional manpower, attract institutional clients and set up an ecosystem fund.

## Funding rounds

- Series C, Sep 23, 2021, $261M — Hong Shan, Tiger Global Management, Andreessen Horowitz, Ribbit Capital, Coinbase Ventures, Paradigm
- Series B, Apr 19, 2021, $25M — Tiger Global Management
- Series A, Jan 29, 2021, $15M — Hong Shan, Ribbit Capital, Paradigm
- Seed, Jan 31, 2019, $1.3M — Hong Shan

## Investors

- Hong Shan — Seed, Series A, Series C
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Series A, Series C
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Series A, Series C
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B, Series C
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series C
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series C