This Crypto Startup Raises Rs 223 Crore In Series A Funding Round

Crypto exchange platform WOO Network has received funding of $ 30 million (about Rs 223 crore) from several investors including Singapore-based large investment firm Three Arrows Capital.

The crypto space is expanding at a fast pace around the world and with this, more and more crypto exchange platforms are trying to take hold in the market. In the Series A funding round, crypto exchange platform WOO Network has received funding of $ 30 million (about Rs 223 crore) from Singapore-based large investment firm Three Arrows Capital, among other investors. A total of fourteen other venture capital firms participated in the round. Crypto startup WOO offers users deep liquidity and zero-free trading on its crypto exchange.

CoinDesk According to reports, the daily trading value of the company had increased by $ 20 million (about Rs 148 crore) at the beginning of 2020. After that, in mid-September, this figure reached its all-time high of $ 2.6 billion (about Rs 19,330 crore). WOO Network shared the news of the successful closing of its new funding round on Twitter.

The crypto exchange is planning to build a research and development facility in Warsaw, Poland with the funds raised. In October, US-based non-fungible token company Candy Digital had secured $100 million (about Rs 747 crore) in a Series A funding round. NFTs are digital collectible items that are inspired by real life items. These include games, artwork and many other arts as well as songs etc.

Mojito, a tech-suite enabling the creation of the NFT marketplace, recently raised an investment of $20 million (about Rs 150 crore) in a new funding round.

The crypto market is expanding rapidly internationally. Market Research Tracker CoinGecko According to reports, at the beginning of this week, the total value of the crypto market reached $ 3 trillion (about Rs 2,22,79,296 crore).

One of the Cryptimi Report As of now there are an estimated 504 cryptocurrency exchanges, of which 259 are tracked on CoinMarketCap and the others are early startups.<!–


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