Bitget and Avalanche pledge $10M for India’s Web3 growth

Bitget and Avalanche have formed a partnership to support India’s Web3 ecosystem by providing at least $10 million in funding for grassroots initiatives.  

According to the announcement, the partnership will support mini-grants, scholarships, hackathons, and workshops.  

The initial focus will be on Delhi and Bangalore, with both cities identified as major hubs for crypto activity and developer talent.  

Delhi is India’s most populous city, while Bangalore is often referred to as the country’s “Silicon Valley.”  

The announcement comes at a time when India is witnessing an uptick in crypto activity despite high taxation on digital assets.  

Based on data from local exchange CoinSwitch, crypto investment rose sharply in 2024, with Delhi accounting for 20.1% of activity, followed by Bengaluru at 9.6%, and Mumbai at 6.5%.  

“Young investors aged 18 to 35 now make up nearly 75% of India’s crypto investor base,” CoinSwitch noted.  

While Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) continue to attract interest, Dogecoin (CRYPTO:DOGE) was the most invested token in 2024.  

Other memecoins, including Shiba Inu (CRYPTO:SHIB) and Pepe (CRYPTO:PEPE), also recorded notable gains in investor interest.  

The partnership between Bitget and Avalanche (CRYPTO:AVAX) aligns with a broader trend of international exchanges turning their attention back to the Indian market.  

In February 2025, Bybit resumed operations in India after registering with local authorities.  

In the same period, Coinbase began talks with regulators as part of its effort to return to the country.  

Data from Web3 venture capital firm Hashed Emergent shows that India contributes 12% of global Web3 developers.  

It also states that 17% of new developers entering the crypto space in 2024 were from India.