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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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CoinSwitch Kuber valued at $1.9 billion, now second crypto unicorn in India

Leading crypto platform CoinSwitch Kuber announced that it has raised over $260 million in its Series C funding round. The round was funded by Andreessen Horowitz (a16z), Coinbase Ventures and existing investors. The company claims that with this capital it will scale its India operations, including hiring across verticals.

With more than 10 million users, CoinSwitch Kuber has become a new unicorn, and the most valuable crypto company in India valued at $1.9 billion.

CoinSwitch Kuber said it will utilise the funds for onboarding 50 million Indians on its platform and introduce new crypto products.

“We wanted to remove all the complexities in crypto trading, educate consumers and give them a simplified experience of one-click buy and sell in crypto, co-founder and CEO Ashish Singhal said.

The company said it aims to acquire best talent including leaders and experts across engineering, product, data, and growth to define the crypto industry in India.

With CoinSwitch Kuber, American venture capital form a16z is making its first investment in an Indian start-up. Existing investors Paradigm, Ribbit Capital, Sequoia Capital India, and Tiger Global also participated in the new funding round.

The company said that it plans to design ways of simplifying the investment journey of Indians, and, in the process, offer multiple avenues of investment for them through different products and asset classes.

“We are incredibly excited about the crypto market opportunity in India, and with its breakout growth, CoinSwitch has emerged as the leading retail platform in the country,” Andreessen Horowitz General Partner David George said.

Started in 2017 by Singhal, Govind Soni and Vimal Sagar, CoinSwitch launched its India operations in June 2020.

The Indian cryptocurrency market has been growing exponentially and is expected to reach up to $241 million by 2030 in India and $2.3 billion by 2026 worldwide.

(With IANS inputs)

The post CoinSwitch Kuber valued at $1.9 billion, now second crypto unicorn in India appeared first on BGR India.



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