Indian bitcoin startup Zebpay is set to raise $5M

Bitcoin wallet startup Zebpay is in talks to secure Series-A funding of $4-5 million and expects to close the investment by next month, according to one of its founders Saurabh Agrawal.



Agrawal said the company is in talks with several Indian investors and that a US-based venture capital fund, which focuses on blockchain technology, has also evinced interest. This will be the second investment the company will have closed this year.



In a seed round in January, Zebpay had raised $1 million. The bitcoin space in India is in the nascent stage but has started getting investor attention. Last month, Bengaluru-based bitcoin exchange startup Unocoin raised $1.5 million.



Unocoin said it was the largest funding so far for a bitcoin startup in the country.