Indian Bitcoin Startup Zebpay Raises $1 Million

Ahmedabad-based startup Zebpay has raised $1-million (around Rs 6 crore) funding in order to promote bitcoins in India, even if the virtual currency is yet to get direct support from regulators across the globe, including the Reserve Bank of India.

The company said Arjun Handa, chief managing director of Claris Life Sciences, and Amit Jindal, managing director of Jindal Worldwide, were the two major investors, who personally invested around Rs 3 crore and Rs 1crore, respectively.

Nagendra Chaudhary, chairman at Jaipur-based Triangle Engineering, has invested another Rs 1 crore. There are a few other investors as well.

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