Blockchain Startups in India – Blockchain Council

• Blockchain Council

• July 06, 2024

Blockchain startups are generating a lot of buzz in India. From finance to healthcare, these innovative companies are reshaping industries with new technologies. India is now home to over 3,000 deep-tech startups, including those in Blockchain.

Cities like Bengaluru, Delhi, and Mumbai are leading the way. These startups are not only driving economic growth but also offering solutions to various challenges. With the market expected to add $1.1 trillion to India’s GDP, Blockchain technology is more relevant than ever.

Top 10 Blockchain Startups in India

1. Polygon

Foundation year: 2017
Founders: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun
Overview: Polygon, originally known as Matic Network, offers a platform designed to make Ethereum transactions faster and cheaper. The startup uses a modified version of the Plasma framework, enabling fast, low-cost transactions on Ethereum BlockchainPolygon’s technology helps scale Ethereum by providing Layer 2 scaling solutions, making it more efficient for developers and users.

2. WazirX

Foundation year: 2017
Founders: Nischal Shetty, Sameer Mathre, Siddharth Menon
Overview: WazirX is one of the leading hosting service providers in India cryptocurrency exchanges. It provides a platform for trading various cryptocurrencies. Additionally, WazirX has launched Shardeum, an open-source Blockchain project, and the Smart Token Fund (STF) to help users interact with experienced traders. This startup has gained significant traction and is known for its user-friendly interface and robust security measures.

3. Crypt

Foundation year: 2016
Founders: Ravi Jagannathan, Karthik Raghuraman
Overview: KrypC specializes in Blockchain development, providing a protocol-agnostic platform that enables businesses to seamlessly integrate Blockchain technology. KrypC’s solutions help organizations implement Blockchain for various applications, focusing on creating tangible economic benefits and improving operational efficiency. They offer products and services that meet the diverse needs of the industry, making Blockchain accessible for businesses of all sizes.

4. New network

Foundation year: 2018
Founders: Varun Deshpande, Ratnesh Ray, Siddharth Verma
Overview: New Network is a decentralized finance (DeFi) platform that connects lenders and borrowers via smart contracts. This platform streamlines the process of lending and borrowing by using partner exchanges to facilitate transactions. Nuo has also launched Juno, an Ethereum-based digital banking platform that allows users to hold USDC stablecoins and earn interest. The company operates from Mumbai and Singapore, handling significant transaction volumes in the DeFi space.

5. Decipher

Foundation year: 2019 (as Deqode, originally founded as Techracers)
Founders: Ankur Maheshwari, Latha Sharma
Overview: Deqode offers a range of Blockchain solutions aimed at enterprises. Their services include dq.wallet, dq.track, and dq.pay, which integrate seamlessly with existing business processes. Deqode serves clients in various industries such as fintech, supply chain, energy, and healthcare in over 20 countries. They have successfully delivered over 30 Blockchain projects, helping enterprises enhance their digital capabilities.

6. Bitdeal Offer

Foundation year: 2016
Founders: Thai Hoa Nguyen
Overview: Madurai-based Bitdeal focuses on developing cryptocurrency exchanges and Blockchain solutions. It offers a wide range of services, including cryptocurrency exchange, wallet, and decentralized application (DApp) development. Bitdeal’s solutions cater to various needs, from P2P cryptocurrency exchange scripts to hardware and software wallet development, providing robust Blockchain services for businesses looking to adopt this technology.

7. Elementary laboratories

Foundation year: 2017
Founders: Raunaq Vaisoha, Dhruva Ghulati, Rajas Nandakumar
Overview: Elemential Labs offers Blockchain solutions designed to help businesses seamlessly integrate this technology into their operations. They provide consulting, development, and implementation services, making it easier for organizations to adopt Blockchain. Their platform focuses on building secure, scalable, and interoperable Blockchain systems for various business applications.

8. Banking chain

Foundation year: 2017
Founders: Consortium of Indian banks
Overview: Bankchain is a collaborative initiative of several Indian banks to explore Blockchain technology to solve challenges in the banking sector. The platform focuses on providing secure and transparent solutions for banking operations, including cross-border payments and trade finance. This initiative helps banks streamline processes, reduce costs and improve security.

9. PrimeChain Technologies

Foundation year: 2016
Founders: Rohas Nagpal
Overview: PrimeChain Technologies provides Blockchain solutions in various industries such as banking, finance and supply chain managementTheir services include consulting, development and implementation of Blockchain technology to optimize business operations. PrimeChain’s goal is to help organizations improve efficiency, security and transparency in their processes.

10. Block Armor

Foundation year: 2016
Founders: Narayan Neelakantan, Abhishek Tiwari
Overview: Block Armor focuses on cybersecurity solutions that utilize Blockchain technology. They provide a secure platform for sharing sensitive information between organizations. Their solutions employ advanced cryptography and decentralized ledger technology to ensure data confidentiality and integrity. Block Armor aims to enhance cybersecurity measures for businesses by leveraging Blockchain’s robust security features.

What educational resources are available to learn Blockchain technology in India?

To learn more about Blockchain technology in India, there are several educational resources and certifications available. One notable organization in this space is the Blockchain Councilwhich provides a variety of online certifications and training programs. These certifications cover a range of topics from fundamental concepts to advanced applications.

The programs are designed to provide in-depth knowledge of different Blockchain technologies and their use in various industries. Blockchain Council certifications are globally recognized and aim to equip students with both theoretical and practical skills in Blockchain technology.

Additionally, several Indian universities and online platforms like Global Technology Council offers technology-related certifications. These certifications often include hands-on projects, real-world case studies, and interactive learning modules to enhance the understanding and application of Blockchain concepts in various industries.

Conclusion

Blockchain startups in India are more than just a trend. They represent a shift towards more secure and efficient systems across industries. With substantial investments and a growing number of startups, India’s Blockchain ecosystem is poised to become a global leader. This growth promises exciting opportunities for both businesses and developers. With more startups emerging, India’s position in the global tech landscape will only grow stronger.

Frequent questions

What is the role of Blockchain startups in India?

• Blockchain startups in India are leveraging advanced technologies to address challenges and create new opportunities in sectors such as finance, healthcare, and logistics.
• These companies play a critical role in driving economic growth, improving operational efficiency, and ensuring data security across various industries.

What are the top Blockchain startups in India?

• Polygon: Enhance Ethereum transactions with Layer 2 scaling solutions.
• First name: One of the leading cryptocurrency exchanges in India with user-friendly interfaces.
• Crypt: Provides versatile Blockchain solutions to integrate with existing business operations.
• New Network: Connect lenders and borrowers through decentralized finance on Ethereum.
• Please note: Build Blockchain projects that enhance digital capabilities across industries.

How Blockchain Technology is Benefiting the Indian Economy?

• Blockchain technology is expected to add $1.1 trillion to India’s GDP by improving efficiency, security and transparency across various sectors.
• It drives innovation in industries such as financial services, healthcare and supply chain management, resulting in improved service delivery and reduced operating costs.

Where can I learn Blockchain technology in India?

• Blockchain Advice: It offers online certifications and training programs that cover both basic and advanced Blockchain concepts.
• Indian Universities and Online Platforms: Provide courses on Blockchain technology that include hands-on projects and real-world applications to provide students with practical skills in Blockchain technology.

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