Indian cryptostartup Coinshift, which provides treasury management tools for decentralized autonomous organizations (DAOs) and web3 companies, has raised $15 million in a Series A funding round.
The investment round was led by Tiger Global, with participation from Sequoia Capital India, Alameda Ventures, Spartan Group, Ethereal Ventures and Polygon Studios.
Also participating in the funding were Product Hunt and Weekend Fund founder Ryan Hoover, OpenSea Vice President Shiva Rajaraman and FalconX founder Prabhakar Reddy.
According to The Block, the company plans to launch its own token and transform itself into a DAO soon.
Coinshift currently provides a treasury management platform for Ethereum and Polygon blockchains.
However, as early as next week, the platform will begin supporting Avalanche, Binance Chain, Gnosis, Optimism and Arbitrum networks.
Now Coinshift services are used by Uniswap, ConsenSys, Balancer, Messari, Biconomy and Perpetual Protocol.