CoinSwitch’s $25 mn for Web3 start-ups

NEW DELHI: Crypto investing platform CoinSwitch on Tuesday said it has facilitated nearly $25 million in funding in 12 promising startups via its Web3 Discovery Fund. The fund, launched under CoinSwitch Ventures last year, empowers early-stage start-ups developing Blockchain-based solutions for the Web3 landscape. In less than nine months, the fund has expanded its VC investor network from six to over 70 participants, the company said in a statement. “Our fund’s philosophy was born out of the challenges we faced while setting up CoinSwitch. The roadblock then led us to establish a fund that not only provides funds but also expertise and networking opportunities,” said Ashish Singhal, Co-founder and CEO, CoinSwitch. The 12 funded startups include PYOR, Silence Labs, AirStack, Mohash, Shield, PolyTrade, BitsCrunch and PlayZap.