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Coinbase invests in India’s CoinDCX at $2.45 billion valuation

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Coinbase Global announced on Wednesday that it has made a new investment in CoinDCX, valuing the Indian cryptocurrency exchange at $2.45 billion post-money. The move strengthens Coinbase’s presence in the South Asian crypto market, where India remains a growing hub for blockchain and digital assets.

The investment marks another step in Coinbase’s long-term partnership with CoinDCX, following multiple funding rounds led by its venture arm, Coinbase Ventures. In April 2022, Coinbase Ventures joined a $135 million fundraising round that valued CoinDCX at $2.15 billion.

As of July 2025, CoinDCX reported annualized group revenue of $141 million and $1.2 billion in assets under custody, signaling strong growth despite ongoing regulatory uncertainty in India’s crypto sector.

“We believe India and its neighbors will help shape the future of the global on-chain economy,” said Shan Aggarwal, Coinbase’s chief business officer. He added that the deal remains subject to regulatory approvals and closing conditions.

Coinbase’s latest investment underscores a renewed wave of interest from global exchanges seeking exposure to India’s growing crypto and blockchain ecosystem, even as the country tightens oversight and explores the framework for a digital rupee.

Chevron expands Bengaluru innovation hub to drive digital and AI transformation

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Chevron has expanded its Engineering and Innovation Excellence Center (ENGINE) in Bengaluru, opening a new 312,000-square-foot facility to boost its digital and AI capabilities. The move marks a major step in the U.S. energy giant’s global effort to streamline operations and leverage India’s deep technology talent pool.

The expansion comes a year after the launch of ENGINE, which consolidates Chevron’s global technical work and supports its target of up to $3 billion in cost savings by 2026. “We were a very decentralized organization until recently,” said Akshay Sahni, Chevron’s India country head. “We use AI to improve machine performance and drilling efficiency—it’s about smarter operations, not just cost cuts.”

Chevron’s focus on Bengaluru reflects the growing importance of India’s STEM and IT ecosystem in the energy transition. The center employs more than 1,000 professionals across disciplines such as mechanical, civil, and petroleum engineering, and plans to invest around $1 billion over the next few years in technology, infrastructure, and workforce development.

The facility features high-performance computing systems for real-time geological modeling and digital twins—virtual replicas of Chevron’s plants that enhance monitoring and maintenance.

Despite global workforce reductions of up to 20%, Chevron emphasized that its India operations are about innovation and future growth. “For now, our focus is on expanding Bengaluru and upskilling our people as technology evolves,” Sahni said.

Anthropic to open first India office in 2026 amid AI boom

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Anthropic, the artificial intelligence company backed by Google and Amazon, announced plans to open its first office in India next year as demand for AI tools accelerates across the country.

The expansion marks a major step in Anthropic’s global growth, with India already standing as its second-largest market for the Claude chatbot, which rivals OpenAI’s ChatGPT. Claude is popular among developers for its strong coding capabilities and multilingual features.

The new office will be located in Bengaluru, India’s leading technology hub, and operations are set to begin in early 2026. CEO Dario Amodei will visit India this week to meet with government officials and business partners, the company said.

India’s rapidly growing tech ecosystem — fueled by a billion internet users, rising corporate investment, and a strong talent base — has drawn top AI firms into competition. OpenAI, backed by Microsoft, is also preparing to open its first Indian office in New Delhi later this year.