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China’s Biggest Bitcoin Exchanges To Stop Local Trading
A few days after JPMorgan Chase and Co., CEO Jamie Dimon called Bitcoin a fraud, the Chinese government announced a ban on all local cryptocurrencies exchanges and trading as well. All the traders of the country were asked to halt all exchanges by midnight on September 15 and notify their users when they will be formally closing.
This move comes after China banned all forms of initial coin offerings (ICO) in the country, which led to a sharp drop in the price of nearly all cryptocurrencies. China’s longest running bitcoin exchange, BTC China, was the first to announce it will suspend its local trading service at the end of this month. Huobi and OKCoin, the country’s two other major exchanges, followed suit and said they will cease all their services by the end of October. These closures will effectively put an end to all the yuan bitcoin exchange markets in China, which was once the largest drivers of the bitcoin trading volume.
Although all cryptocurrency exchangers in the country will not be allowed to facilitate the buying of cryptocoins using the Chinese Yuan, they are allowed to continue to operate international exchanges and other associated services. In accordance with the Notice of the People’s Bank of China and other ministries, several smaller exchangers such as Yunbi will be closing shop for good by the end of September. While the value of Bitcoin and other cryptocurrencies fell by almost 20% post the announcement of the ban touching below $ 3000, it has rebounded since, regaining nearly all its losses. To account for the lion’s share of global trading volumes, Japan, Korea and the U.S., markets have emerged as big contenders, making the impact of the China ban not as severe as it initially seemed. Even though China accounted for 90% of the global trade volume, the dollar and yen markets account for over 75% of volume today, according to data provider Crypto Compare.

After China’s crackdown on cryptocurrencies, the Reserve Bank of India also issued a statement cautioning traders and investors against the digital currency stating they pose potential financial, legal and security related risks. The value of Bitcoin in India went into a tailspin post the RBI’s statement, witnessing a fall of 33% in less than two weeks.
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₹290 Crore Boost: Rozana’s Series B Funding Scales Rural Retail Network Nationwide
Rozana, India’s leading rural retail platform, has secured ₹290 crore ($35 million) in a Series B funding round led by Bertelsmann India Investments (BII), with participation from Omidyar Network India, Vivid Capital, and Tana Investment Holding. This Rozana funding brings its total capital to over ₹500 crore, fueling hyperlocal expansion in underserved rural markets. Founded in 2021 by brothers Prashant and Prateek Chauhan, the startup’s phygital model blends micro-stores, app-based ordering, and last-mile delivery to connect 5 million+ users in 12 states with brands like ITC and HUL.
The ₹290 crore investment will supercharge Rozana’s rural omnichannel retail strategy, targeting 5x growth in 18 months. Plans include adding 5,000 micro-stores in Uttar Pradesh, Bihar, and Rajasthan; AI-powered inventory tech; and new categories like groceries and electronics. By empowering 20,000+ rural micro-entrepreneurs, Rozana taps into India’s $700 billion rural retail boom, where smartphone penetration and UPI drive 12% annual growth.
This Rozana Series B milestone positions it as a frontrunner against rivals like Ninjacart, eyeing unicorn status by 2028 amid ONDC tailwinds. CEO Prashant Chauhan emphasized, “We’re building rural prosperity through accessible premium brands.” For more on Rozana funding news and rural retail trends, stay updated on India’s startup ecosystem.
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Peak XV New Funds: $1.3B Commitment for India Startup Surge 2026
Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.
These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.
For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.
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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes
Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.
In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.
Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.

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