Top 10 Blockchain Startups in India
Discover the top 10 blockchain startups in India revolutionizing industries with innovative solutions in finance, supply chain, and more. Explore leading companies like Polygon, KoineArth, and WazirX driving blockchain adoption in India.
Blockchain technology has been rapidly transforming industries worldwide, and India is no exception. Several innovative blockchain startups in India are leveraging this technology to revolutionize various sectors, from finance to supply chain management. Here’s a look at the top 10 blockchain startups in India that are making significant strides in this burgeoning field.
1. Polygon (formerly Matic Network)
Summary: Founded in 2017 in Bengaluru, Polygon provides a Layer 2 scaling solution for Ethereum, enhancing transaction speed and reducing costs. It uses sidechains to enable scalable, secure, and instant transactions, attracting a wide array of projects and partnerships in the blockchain space.
| Aspect | Details |
|---|---|
| Founded | 2017 |
| Headquarters | Bengaluru, India |
| Focus | Layer 2 scaling solution for Ethereum, enhancing transaction speed and reducing costs. |
| Notable Features | Provides scalable, secure, and instant transactions using sidechains. |
| Achievements | Attracted numerous projects and partnerships, becoming a leading platform for decentralized applications on Ethereum. |
Founded: 2017
Headquarters: Bengaluru
Polygon has emerged as one of the leading blockchain platforms in India, providing scalable, secure, and instant transactions using sidechains. The platform has gained global recognition for its Layer 2 scaling solution for Ethereum, which significantly reduces transaction costs and improves speed. Its innovative approach has attracted numerous projects and partnerships, making it a major player in the blockchain space.
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2. KoineArth
Summary: Established in 2018, KoineArth focuses on blockchain solutions for supply chain management. Their product, ‘marketsN’, ensures transparency and traceability across industries like pharmaceuticals and agriculture, leveraging blockchain to optimize efficiency and authenticity.
| Company Name | KoineArth |
|---|---|
| Founded | 2018 |
| Headquarters | Bengaluru |
| Focus Area | Blockchain solutions for supply chain management |
| Notable Product | marketsN – Enhances transparency and traceability in supply chains |
| Industry Impact | Improving efficiency and authenticity in sectors like pharmaceuticals and agriculture |
Founded: 2018
Headquarters: Bengaluru
KoineArth focuses on creating blockchain solutions for supply chain management. Their product, ‘marketsN’, utilizes blockchain to enhance transparency and traceability in supply chains, ensuring authenticity and efficiency. KoineArth’s solutions cater to various industries, including pharmaceuticals, agriculture, and manufacturing.
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3. Signzy
Summary: Founded in 2015 and based in Bengaluru, Signzy specializes in RegTech solutions using blockchain and AI. They streamline digital onboarding and KYC processes for financial institutions, enhancing security, compliance, and operational efficiency.
| Aspect | Details |
|---|---|
| Founded | 2015 |
| Headquarters | Bengaluru, India |
| Industry | RegTech |
| Core Services | Digital onboarding and KYC solutions |
| Technology | Combines blockchain and artificial intelligence |
Founded: 2015
Headquarters: Bengaluru
Signzy is a RegTech company that uses blockchain to streamline digital onboarding and KYC (Know Your Customer) processes. By combining blockchain with artificial intelligence, Signzy offers a secure, compliant, and efficient way for financial institutions to onboard customers, reducing fraud and operational costs.
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4. Zebi
Summary: Founded in 2015 in Hyderabad, Zebi focuses on data security and management using blockchain technology. Their solutions, such as Zebi Data Gateway, safeguard critical data like land records and academic certificates, ensuring integrity and preventing tampering.
| Aspect | Details |
|---|---|
| Founded | 2015 |
| Headquarters | Hyderabad, India |
| Core Focus | Data security and management using blockchain technology |
| Key Product | Zebi Data Gateway |
| Main Applications | Ensuring integrity and authenticity of critical data (e.g., land records, academic certificates) |
Founded: 2015
Headquarters: Hyderabad
Zebi provides blockchain-based solutions for data security and management. Their flagship product, Zebi Data Gateway, ensures the integrity and authenticity of critical data, such as land records and academic certificates. By leveraging blockchain, Zebi aims to prevent data tampering and ensure transparency.
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5. WazirX
Summary: Based in Mumbai and founded in 2017, WazirX is India’s largest cryptocurrency exchange. It provides a platform for buying, selling, and trading various cryptocurrencies, aiming to make crypto accessible and secure for Indian users.
| Aspect | Details |
|---|---|
| Founded | 2017 |
| Headquarters | Mumbai, India |
| Core Services | Cryptocurrency exchange platform for buying, selling, and trading various cryptocurrencies |
| Notable Features | Native token WRX, user-friendly interface, high security standards |
| Key Achievement | Acquired by Binance, one of the world’s largest cryptocurrency exchanges |
Founded: 2017
Headquarters: Mumbai
WazirX is one of India’s largest cryptocurrency exchanges, offering a platform for buying, selling, and trading various cryptocurrencies. The startup has also launched its own native token, WRX, and is working towards making crypto accessible to the masses in India. WazirX has grown rapidly, especially after being acquired by Binance, one of the world’s largest cryptocurrency exchanges.
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6. SOMISH Blockchain Labs
Summary: Established in 2006 in New Delhi, SOMISH Blockchain Labs offers blockchain solutions across diverse sectors. Their projects include GovBlocks for decentralized governance and Asva Labs for DeFi solutions, catering to finance, governance, and aviation industries.
| Aspect | Details |
|---|---|
| Name | SOMISH Blockchain Labs |
| Founded | 2006 |
| Headquarters | New Delhi, India |
| Specialization | Building blockchain solutions for finance, governance, and aviation |
| Notable Projects | GovBlocks (decentralized governance), Asva Labs (DeFi solutions) |
Founded: 2006
Headquarters: New Delhi
SOMISH Blockchain Labs specializes in building blockchain solutions for different sectors, including finance, governance, and aviation. Their notable projects include GovBlocks, a governance platform for decentralized organizations, and Asva Labs, which focuses on decentralized finance (DeFi) solutions.
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7. Primechain Technologies
Summary: Founded in 2016 and headquartered in Pune, Primechain Technologies specializes in blockchain solutions for the banking sector. Their flagship product, Primechain-CONTRACT, facilitates secure and transparent smart contract management, enhancing trust and efficiency in financial transactions.
| Aspect | Details |
|---|---|
| Founded | 2016 |
| Headquarters | Pune, India |
| Specialization | Blockchain solutions for the banking sector |
| Key Product | Primechain-CONTRACT, a smart contract solution for secure and transparent financial processes |
| Industry Focus | Finance and Banking |
Founded: 2016
Headquarters: Pune
Primechain Technologies provides blockchain solutions for the banking sector, focusing on secure and transparent transactions. Their product, Primechain-CONTRACT, is a blockchain-powered smart contract solution designed to automate and secure various financial processes, enhancing trust and efficiency in banking operations.
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8. ChitMonks
Summary: Established in 2016 in Hyderabad, ChitMonks digitizes and secures the traditional chit fund industry using blockchain technology. Their platform ensures transparency, reduces fraud, and enhances the efficiency of managing chit funds, providing a trusted solution for financial inclusion.
| Aspect | Details |
|---|---|
| Founded | 2016 |
| Headquarters | Hyderabad |
| Industry Focus | Chit fund industry |
| Core Offering | Blockchain-based digitization and security for chit funds |
| Key Benefits | Improved transparency, reduced fraud, enhanced efficiency |
Founded: 2016
Headquarters: Hyderabad
ChitMonks leverages blockchain to digitize and secure the traditional Indian chit fund industry. By using blockchain, ChitMonks ensures transparency, reduces fraud, and improves the efficiency of managing chit funds. The platform is aimed at bringing greater trust and reliability to this age-old financial system.
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9. Instadapp
Summary: Founded in 2018 and based in Bengaluru, Instadapp is a decentralized finance (DeFi) platform. It aggregates multiple DeFi protocols, offering users a unified interface to manage their assets efficiently and optimize returns in the rapidly evolving DeFi landscape.
| Aspect | Details |
|---|---|
| Founded | 2018 |
| Headquarters | Bengaluru, India |
| Industry | Decentralized Finance (DeFi) |
| Product | Platform for managing and optimizing DeFi assets |
| Key Feature | Aggregates multiple DeFi protocols for simplified asset management |
Founded: 2018
Headquarters: Bengaluru
Instadapp is a decentralized finance (DeFi) platform that simplifies the management of DeFi assets. The platform aggregates multiple DeFi protocols, providing users with a seamless interface to manage their assets and optimize their returns. Instadapp has gained significant traction in the global DeFi community for its innovative solutions and user-friendly design.
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10. Auxesis Group
Summary: Founded in 2015 in Mumbai, Auxesis Group provides enterprise blockchain solutions through its platform, AuxLedger. It caters to industries such as finance, insurance, and supply chain, offering scalable and secure blockchain infrastructure to improve operational efficiency and trust.
| Attribute | Details |
|---|---|
| Founded | 2015 |
| Headquarters | Mumbai, India |
| Specialization | Enterprise blockchain solutions |
| Flagship Product | AuxLedger – a blockchain platform for scalable and secure enterprise applications |
| Industries Served | Finance, insurance, supply chain, and more |
Founded: 2015
Headquarters: Mumbai
Auxesis Group is a blockchain infrastructure company that provides enterprise blockchain solutions. Their flagship product, AuxLedger, is a blockchain platform designed for scalable and secure enterprise applications. Auxesis Group works across various industries, including finance, insurance, and supply chain, to implement blockchain solutions that drive efficiency and trust.
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FAQs for Top 10 Blockchain Startups in India
1. What is blockchain technology?
Blockchain technology is a decentralized digital ledger that records transactions across multiple computers in a way that ensures the security, transparency, and immutability of the data.
2. Why is blockchain important in India?
Blockchain technology is important in India because it can address various challenges such as fraud, lack of transparency, and inefficiencies in sectors like finance, supply chain management, and data security.
3. Which are the top blockchain startups in India?
The top blockchain startups in India include Polygon, KoineArth, Signzy, Zebi, WazirX, SOMISH Blockchain Labs, Primechain Technologies, ChitMonks, Instadapp, and Auxesis Group.
4. What does Polygon (formerly Matic Network) do?
Polygon provides scalable, secure, and instant transactions using sidechains, primarily focused on enhancing the Ethereum network’s performance.
5. How does KoineArth help supply chains?
KoineArth uses blockchain technology to improve transparency and traceability in supply chains, ensuring authenticity and efficiency in various industries like pharmaceuticals and agriculture.
6. What services does Signzy offer?
Signzy offers digital onboarding and KYC solutions using blockchain and artificial intelligence, helping financial institutions streamline their processes and reduce fraud.
7. What problems does Zebi address?
Zebi focuses on data security and management, using blockchain to ensure the integrity and authenticity of critical data such as land records and academic certificates.
8. What is WazirX known for?
WazirX is known for being one of India’s largest cryptocurrency exchanges, providing a platform for buying, selling, and trading various cryptocurrencies.
9. What industries does SOMISH Blockchain Labs serve?
SOMISH Blockchain Labs serves various industries, including finance, governance, and aviation, by building customized blockchain solutions.
10. What is the focus of Primechain Technologies?
Primechain Technologies focuses on providing blockchain solutions for the banking sector, enhancing security and transparency in financial transactions.
11. How does ChitMonks innovate in the chit fund industry?
ChitMonks digitizes and secures the traditional chit fund industry using blockchain, improving transparency and reducing fraud.
12. What is Instadapp’s role in decentralized finance (DeFi)?
Instadapp simplifies the management of DeFi assets by aggregating multiple DeFi protocols, offering users an intuitive platform to optimize their asset management and returns.
13. What services does Auxesis Group offer?
Auxesis Group provides enterprise blockchain solutions through their platform, AuxLedger, catering to industries such as finance, insurance, and supply chain to improve efficiency and trust.
14. How can blockchain improve transparency and security?
Blockchain improves transparency and security by creating an immutable record of transactions that can be easily audited and verified, reducing the risk of fraud and unauthorized changes.
15. Are blockchain startups in India receiving investment?
Yes, many blockchain startups in India are receiving significant investment from both domestic and international investors, highlighting the growing interest and potential in the sector.
Conclusion
India’s blockchain ecosystem is vibrant and rapidly growing, with startups across the country developing innovative solutions to modern problems. These top 10 blockchain startups are at the forefront of this revolution, leveraging the power of blockchain to enhance transparency, security, and efficiency in various sectors. As blockchain technology continues to evolve, these startups are poised to play a crucial role in shaping the future of digital transactions and data management in India and beyond.
Also Read:
Top 10 E-commerce Startups in India
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Top 10 Blockchain Startups in India
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Top 10 Virtual Reality Startups in India
Top 10 Augmented Reality Startups in India