Is Polygons $450-mn funding the Flipkart moment for blockchain in India? – Business Standard

Startups | Blockchain | crypto trading
Deepsekhar Choudhury  |  Bengaluru

Indian blockchain start-up Polygon does not earn any revenues – and says it does not have any such plans for the future too. Yet, it has amassed a funding round of $450 million led by the likes of Sequoia, SoftBank and Tiger Global at a valuation of around $10 billion.
Founders and VCs alike say it may turn out to be the Flipkart moment for India's blockchain ecosystem. While Indian crypto exchanges have attracted large funding rounds earlier at unicorn valuations, Polygon's funding is closer to the ethos of decentralisation of Web3 as it involved tokens, according to …
Key stories on are available to premium subscribers only.
Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.
Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor
Copyrights © 2022 Business Standard Private Ltd. All rights reserved.
Business Standard
Upgrade To Premium Services
Business Standard is happy to inform you of the launch of “Business Standard Premium Services”
As a premium subscriber you get an across device unfettered access to a range of services which include:
Business Standard
Premium Services
In Partnership with Fis Logo
Dear Guest,
Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard