# Discidium Internet Labs Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/discidium-internet-labs-pvt

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.koinex.in
- Total disclosed funding: $0.3M
- Latest round: Seed (Oct 18, 2017)
- Investors on record: 2

## About

Discidium Internet Labs Pvt. Ltd. operates a cryptocurrency exchange platform, Koinex, facilitating seamless trading of various digital assets including Bitcoin and Ethereum. The company focuses on catering to both individual and institutional investors in the growing cryptocurrency market.Founded in 2017, Discidium Internet Labs Pvt. Ltd. is headquartered in Mumbai, India and offers a cryptocurrency exchange platform allowing users to trade digital currencies. In October 2017, the company raised INR 22.70 mn in Seed funding, co-led by BEENEXT and Pantera Capital, valuing the firm at INR 118.23 mn post-money. The founder's previous entrepreneurial endeavors are not documented publicly.Koinex provides a comprehensive suite of cryptocurrency trading services, focusing on a user-friendly exchange platform for buying, selling, and trading cryptocurrencies. It supports trading of Bitcoin, Ethereum, and various altcoins, offering tools such as real-time market data and secure transactions. The platform addresses challenges of security and liquidity in the Indian market, aiming to enhance users' trading experiences through educational resources and robust support systems.In 2020, Koinex reported a revenue of INR 113,008.70, while the EBITDA for the same year was INR -167,511.70, indicating operational challenges. Revenue is generated through transaction fees on trades conducted on its exchange, with fee structures encouraging higher trading volumes through competitive rates.Discidium Internet Labs Pvt. Ltd. plans to leverage recent funding from the Seed round in October 2017 to expand its product offerings and enhance its technological infrastructure. The company is actively exploring new markets in Asia and intends to launch new features on its platform by mid-2023. The funds will be utilized to strengthen security measures, improve user experience, and support marketing initiatives aimed at increasing market penetration.

## Funding rounds

- Seed, Oct 18, 2017, $0.3M — Pantera Capital, BEENEXT

## Investors

- Pantera Capital (https://capitalatlas.ai/funds/pantera-capital) — Seed
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Seed