Founded in 2021, the Bahamas-based Orderly Network is a joint venture of crypto exchange WOO Network and layer-1 blockchain platform NEAR
Orderly Network has raised $20 Mn funding to date and counts Nomura, Sequoia China, Pantera Capital, Dragonfly, and Jump Crypto among its investors
CoinDCX Ventures invested in companies like Space and Time, Zulu, Unstoppable Domains, Optic monitors, Liminal, Taki and MetaEngine in 2022
CoinDCX Ventures, the investment arm of cryptocurrency exchange CoinDCX, has invested in the Bahamas-based decentralised trading infrastructure provider Orderly Network. However, the company didn’t disclose the investment amount.
Founded in 2021, Orderly Network is a joint venture of crypto exchange WOO Network and layer-1 blockchain platform NEAR. It offers centralised finance-level trading infrastructure by leveraging WOO Network for building trading platforms and decentralised exchanges.
“Orderly Network is primed to supercharge spot and perpetual futures orderbook DEX, which will eventually benefit DeFi platforms such as Okto and create unique trading experiences for their users. Self-custody, and transparency, alongside CeFi-style execution, are the strengths of Orderly Network’s product line. We are excited about the Indian market given its growing appetite for digital assets, as institutions look for robust DEX platforms to build on,” Arjun Arora, COO of Orderly Network, said in a statement.
Orderly Network has raised a total funding of $20 Mn to date and counts the likes of Nomura, Sequoia China, Pantera Capital, Dragonfly, and Jump Crypto among its backers.
“Orderly Network is building an order book-based decentralised exchange which we believe is the next step in the evolution of decentralised exchanges, providing an enhanced trading experience to customers in a DeFi environment,” CoinDCX Ventures MD Rohit Jain said.
CoinDCX launched its investment arm last year to fund early-stage crypto and blockchain startups and said it was aiming to deploy INR 100 Cr in the Web3 ecosystem. In 2022, CoinDCX Ventures backed companies like Space and Time, Zulu, Unstoppable Domains, Optic monitors, Liminal, Taki and MetaEngine.
Amid the ongoing crypto winter, CoinDCX laid off employees from sales and marketing teams in January this year as part of a restructuring exercise.
CoinDCX’s India entity, Neblio Technologies, reported a net loss of INR 41.34 Cr in FY22 as against a net profit of INR 4.36 Cr in FY21. Operating revenue grew 12.5X to INR 588.5 Cr from INR 47.1 Cr in the previous year.
It, India’s first crypto unicorn, counts Polychain Capital, B Capital Group, DFJ DragonFund, Kindred Ventures, Pantera Capital, Steadview and Coinbase Ventures among its investors.
