Top 10 Blockchain Startups in India

India has emerged as a hotbed for blockchain innovation, with a plethora of startups leveraging this revolutionary technology to transform various industries. From finance to supply chain, healthcare to education, these startups are pushing the boundaries of what is possible with blockchain. Here’s a look at the top 10 blockchain startups in India that are making waves in the industry.

1. Polygon

Attribute	Details
Founders	Jaynti Kanani, Sandeep Nailwal, Anurag Arjun
Founded	2017
Headquarters	Bengaluru
Key Innovations	Layer 2 scaling solutions, Polygon SDK
Main Product	Polygon (network and framework)
Notable Clients/Partners	Aave, SushiSwap, Decentraland
Website	Polygon.technology

Polygon -Top 10 blockchain startups in India

Overview: Founded in 2017 and headquartered in Bengaluru, Polygon is a well-known name in the blockchain space. It provides a framework for building and connecting Ethereum-compatible blockchain networks, focusing on scalability and usability.

Innovations: Polygon’s layer 2 scaling solutions significantly enhance transaction speeds and reduce costs on the Ethereum blockchain. It achieves this through sidechains and a modified version of the Plasma framework. Polygon also introduces a unique mechanism called the Polygon SDK, enabling developers to create standalone chains or secured chains, enhancing flexibility and interoperability within the blockchain ecosystem.

Impact: Polygon’s solutions have been pivotal in alleviating the congestion and high transaction fees on the Ethereum network. By enabling faster and cheaper transactions, Polygon has attracted a plethora of decentralized applications (dApps), driving broader adoption of blockchain technology. Its impact is evident as numerous projects across DeFi, gaming, and NFTs have built on its platform, positioning it as a cornerstone of the Ethereum ecosystem.

2. WazirX

Attribute	Details
Founders	Nischal Shetty, Sameer Mhatre, Siddharth Menon
Founded	2018
Headquarters	Mumbai
Key Innovations	Smart Token Fund (STF), advanced trading interface
Main Product	WazirX (cryptocurrency exchange)
Notable Clients/Partners	Binance (acquired in 2019)
Impact	Popularized cryptocurrency trading in India, large user base

Overview: Founded in 2018 and headquartered in Mumbai, WazirX is a leading cryptocurrency exchange in India. It provides a platform for trading a variety of cryptocurrencies and was acquired by Binance, the world’s largest cryptocurrency exchange, in 2019.

Innovations: WazirX has introduced several innovative features, such as a Smart Token Fund (STF) that connects crypto traders with investors, enhancing trading experiences and opportunities. Additionally, it offers an advanced trading interface with real-time open order books, allowing users to trade a wide range of digital assets with ease.

Impact: WazirX has played a crucial role in popularizing cryptocurrency trading in India. By offering a secure and user-friendly platform, it has attracted millions of users, making crypto accessible to a broader audience. Its educational initiatives and community engagements have also fostered greater awareness and understanding of blockchain technology in India.

Also Read: Top 10 Robotics startups in India

3. CoinDCX

Attribute	Details
Founders	Sumit Gupta, Neeraj Khandelwal
Founded	2018
Headquarters	Mumbai
Key Innovations	CoinDCX Pro, CoinDCX Go, DCXlend, DCXfutures
Main Product	CoinDCX (cryptocurrency exchange)
Notable Clients/Partners	Various international crypto exchanges
Impact	Enhanced crypto trading options, educational initiatives for broader adoption

Overview: Founded in 2018 and based in Mumbai, CoinDCX is another major cryptocurrency exchange that offers a wide range of trading options and high liquidity. It aims to provide a comprehensive solution for crypto enthusiasts.

Innovations: CoinDCX offers a variety of products including CoinDCX Pro for advanced trading, CoinDCX Go for simplified investments, and DCX Learn for educational content. Its product DCXlend allows users to lend their crypto assets and earn interest, while DCXfutures enables trading in futures contracts, broadening the scope of trading opportunities.

Impact: CoinDCX’s diverse offerings have significantly contributed to the growth of the crypto ecosystem in India. By providing easy access to multiple financial instruments and educational resources, CoinDCX has empowered users to participate in the crypto economy. Its initiatives have also supported financial inclusion and innovation in the financial sector.

Also Read: Top 10 SaaS startups for Software in India

4. Zebi

Attribute	Details
Founders	Babu Munagala, Aravind Kothapalli, Sandeep Rao
Founded	2015
Headquarters	Hyderabad
Key Innovations	Zebi Data Gateway
Main Product	Blockchain-based data security and analytics
Notable Clients/Partners	Government entities, real estate firms
Impact	Enhanced data security and transparency in sectors like real estate and education

Overview: Founded in 2015 and headquartered in Hyderabad, Zebi specializes in providing blockchain-based solutions for data security and analytics. Its technology ensures tamper-proof data management, with applications spanning multiple sectors.

Innovations: Zebi’s flagship product, Zebi Data Gateway, integrates blockchain with big data to provide secure, real-time data access and analytics. The platform uses blockchain to ensure data integrity, making it particularly useful in industries like real estate, education, and hospitality where data authenticity is paramount.

Impact: Zebi’s solutions have significantly enhanced data security and transparency in various sectors. By providing a tamper-proof mechanism for data verification, Zebi has helped organizations reduce fraud, improve operational efficiency, and comply with regulatory standards. Its impact is particularly notable in the real estate sector, where it has streamlined property registration and management processes.

Also Read: Top 10 Virtual Reality startups in India

5. Unocoin

Attribute	Details
Founders	Sathvik Vishwanath, Sunny Ray, Harish BV, Abhinand Kaseti
Founded	2013
Headquarters	Bengaluru
Key Innovations	Systematic Investment Plans (SIPs) for Bitcoin, merchant payment processing
Main Product	Unocoin (cryptocurrency exchange)
Notable Clients/Partners	Various merchants and crypto enthusiasts
Impact	Early promoter of cryptocurrency in India, facilitating easier access to Bitcoin and other digital currencies

Overview: Founded in 2013 and based in Bengaluru, Unocoin is one of India’s oldest and most prominent cryptocurrency exchanges. It offers a platform for buying, selling, and storing Bitcoin and other cryptocurrencies.

Innovations: Unocoin has introduced several innovative features such as systematic investment plans (SIPs) for Bitcoin, allowing users to invest small amounts regularly. The platform also supports merchant payment processing, enabling businesses to accept cryptocurrencies as payment, thus expanding the utility of digital currencies.

Impact: Unocoin has been instrumental in the growth and mainstream adoption of cryptocurrencies in India. By providing easy access to crypto investments and payment processing, it has fostered a broader acceptance of digital currencies. Unocoin’s pioneering efforts have also set the stage for regulatory discussions around cryptocurrency in India, highlighting its role as a trailblazer in the industry.

Also Read: Top 10 Augmented startups in India

6. CoinSwitch Kuber

Attribute	Details
Founders	Ashish Singhal, Govind Soni, Vimal Sagar Tiwari
Founded	2017
Headquarters	Bengaluru
Key Innovations	Aggregated liquidity from multiple exchanges, personalized portfolio, real-time price alerts
Main Product	CoinSwitch Kuber (cryptocurrency investment platform)
Notable Clients/Partners	Various international crypto exchanges
Impact	Simplified crypto trading experience, broad adoption with millions of users

Overview: Founded in 2017 and headquartered in Bengaluru, CoinSwitch Kuber is a leading cryptocurrency investment platform that offers a user-friendly interface for trading over 100 cryptocurrencies.

Innovations: CoinSwitch Kuber’s platform is designed to simplify crypto trading for newcomers and experienced traders alike. It aggregates liquidity from leading exchanges to offer competitive rates and high liquidity. The platform also provides features like a personalized portfolio and real-time price alerts, enhancing the trading experience.

Impact: CoinSwitch Kuber has rapidly gained a large user base in India, making cryptocurrency trading accessible to a broader audience. Its simplified approach and robust security measures have attracted millions of users, contributing to the mainstream acceptance of cryptocurrencies in India. CoinSwitch Kuber’s educational initiatives and user engagement programs have further bolstered its impact on the crypto community.

Also Read: Top 10 Health and Wellness startups in India

7. KoineArth

Attribute	Details
Founder	Praphul Chandra
Founded	2018
Headquarters	Bengaluru
Key Innovations	NgageN (blockchain-based supply chain management platform)
Main Product	Real-time tracking, smart contracts, data transparency
Notable Clients/Partners	Manufacturing, pharmaceutical, and agricultural sectors
Impact	Improved transparency and efficiency in supply chain management, cost reduction

Overview: Founded in 2018 and based in Bengaluru, KoineArth focuses on using blockchain technology to address challenges in supply chain management. Its solutions enhance transparency and efficiency in supply chains.

Innovations: KoineArth’s flagship product, NgageN, is a blockchain-based supply chain management platform that provides real-time tracking of goods, verification of authenticity, and efficient data management. The platform uses smart contracts to automate processes and ensure transparency, making it easier for businesses to manage their supply chains effectively.

Impact: KoineArth’s solutions have had a significant impact on supply chain management by enhancing transparency and reducing inefficiencies. By providing real-time visibility into supply chain operations, KoineArth has helped businesses improve their operational efficiency, reduce costs, and ensure compliance with regulatory standards. Its technology has been particularly beneficial in industries like manufacturing, pharmaceuticals, and agriculture.

Also Read: Top 10 Mental Health startups in India

8. Signzy

Attribute	Details
Founders	Ankit Ratan, Arpit Ratan, Ankur Pandey
Founded	2015
Headquarters	Bengaluru
Key Innovations	AI-powered digital KYC, video verification
Main Product	Digital identity verification solutions
Notable Clients/Partners	Financial institutions, insurance companies
Impact	Enhanced efficiency and security in identity verification, reduced onboarding time

Overview: Founded in 2015 and headquartered in Bengaluru, Signzy provides blockchain-based digital identity verification solutions. Its technology leverages blockchain to offer secure and tamper-proof identity verification processes.

Innovations: Signzy’s innovative solutions include AI-powered digital KYC (Know Your Customer) and video verification processes. These solutions use blockchain to ensure the integrity and security of identity data, making the verification process faster, more reliable, and compliant with regulatory standards.

Impact: Signzy’s technology has significantly improved the efficiency and security of digital identity verification. By streamlining the KYC process, Signzy has helped financial institutions and other businesses reduce onboarding time, improve customer experience, and ensure compliance with regulatory requirements. Its impact extends to various sectors, including banking, insurance, and e-commerce.

Also Read: Top 10 E-commerce startups in India

9. Elemential Labs

Attribute	Details
Founders	Raunaq Vaisoha, Sumedh Thakar
Founded	2016
Headquarters	Mumbai
Key Innovations	Hadron (blockchain management platform)
Main Product	Tools for network performance monitoring, node management
Notable Clients/Partners	Various enterprises in finance, supply chain, and healthcare
Impact	Simplified blockchain deployment and management, enhanced operational efficiency

Overview: Founded in 2016 and based in Mumbai, Elemential Labs offers blockchain infrastructure and solutions for enterprises. Its platform simplifies the deployment and management of blockchain networks.

Innovations: Elemential Labs’ flagship product, Hadron, is a blockchain management platform that allows enterprises to deploy, manage, and scale blockchain networks with ease. The platform provides tools for monitoring network performance, managing nodes, and ensuring compliance, making it easier for businesses to integrate blockchain technology into their operations.

Impact: Elemential Labs has enabled numerous enterprises to leverage blockchain technology by simplifying the deployment and management of blockchain networks. Its solutions have enhanced operational efficiency, improved data security, and facilitated innovation in sectors like finance, supply chain, and healthcare. Elemential Labs’ contributions have been crucial in driving the adoption of blockchain technology in India.

10. Snapper Future Tech

Attribute	Details
Founders	Naresh Jain, Darshana Jain
Founded	2017
Headquarters	Pune
Key Innovations	Blockchain consulting, custom blockchain applications
Main Product	Digital certification, supply chain traceability, secure data management
Notable Clients/Partners	Educational institutions, healthcare providers
Impact	Improved data security and transparency, streamlined processes in education and healthcare

Overview: Founded in 2017 and headquartered in Pune, Snapper Future Tech focuses on providing blockchain solutions for various industries, including finance, healthcare, and education.

Innovations: Snapper Future Tech offers a range of blockchain services, from consulting to developing custom blockchain applications. Its solutions include blockchain-based digital certification, supply chain traceability, and secure data management, helping organizations harness the power of blockchain for their specific needs.

Impact: Snapper Future Tech’s solutions have had a transformative impact on multiple industries. By providing secure and transparent mechanisms for data management and verification, Snapper Future Tech has helped organizations improve efficiency, reduce fraud, and comply with regulatory standards. Its technology has been particularly impactful in sectors like education, where it has streamlined the issuance and verification of academic credentials, and healthcare, where it has enhanced data security and patient management.

Also Read: Top 10 Blockchain startups in India

FAQs on Top 10 Blockchain Startups in India

1. What is Polygon (formerly Matic Network)?

Answer: Polygon is a blockchain platform that provides a framework for building and connecting Ethereum-compatible blockchain networks. It focuses on scalability and usability, enhancing transaction speeds and reducing costs on the Ethereum network.

2. Who are the founders of WazirX?

Answer: WazirX was founded by Nischal Shetty, Sameer Mhatre, and Siddharth Menon in 2018. It is a leading cryptocurrency exchange in India.

3. What innovations has CoinDCX introduced?

Answer: CoinDCX has introduced various innovative products, including CoinDCX Pro for advanced trading, CoinDCX Go for simplified investments, DCXlend for crypto lending, and DCXfutures for trading futures contracts.

4. How does Zebi enhance data security?

Answer: Zebi provides blockchain-based data security solutions through its Zebi Data Gateway, which integrates blockchain with big data to ensure real-time, tamper-proof data access and analytics. This enhances data integrity and transparency.

5. What makes Unocoin a significant player in the Indian crypto market?

Answer: Unocoin, founded in 2013, is one of India’s oldest cryptocurrency exchanges. It introduced systematic investment plans (SIPs) for Bitcoin and merchant payment processing, making crypto investments and transactions more accessible.

6. How does CoinSwitch Kuber simplify crypto trading?

Answer: CoinSwitch Kuber aggregates liquidity from multiple exchanges to offer competitive rates and high liquidity. It features a user-friendly interface, personalized portfolio management, and real-time price alerts, making crypto trading accessible to a broad audience.

7. What is KoineArth’s flagship product?

Answer: KoineArth’s flagship product is NgageN, a blockchain-based supply chain management platform that provides real-time tracking, authenticity verification, and efficient data management using smart contracts.

8. What sectors benefit from Signzy’s digital identity verification solutions?

Answer: Signzy’s blockchain-based digital identity verification solutions benefit sectors such as banking, insurance, and e-commerce by enhancing the efficiency and security of the KYC process, reducing onboarding time, and ensuring compliance.

9. What does Elemential Labs offer to enterprises?

Answer: Elemential Labs offers a blockchain management platform called Hadron, which simplifies the deployment, management, and scaling of blockchain networks. It provides tools for monitoring network performance, managing nodes, and ensuring compliance.

10. What industries does Snapper Future Tech serve with its blockchain solutions?

Answer: Snapper Future Tech provides blockchain solutions for finance, healthcare, and education. Its services include digital certification, supply chain traceability, and secure data management, helping organizations enhance transparency and efficiency.

11. How has Polygon impacted the blockchain ecosystem?

Answer: Polygon has alleviated congestion and high transaction fees on the Ethereum network, attracting numerous decentralized applications (dApps) and driving broader adoption of blockchain technology by providing faster and cheaper transactions.

12. What are the key features of WazirX’s platform?

Answer: WazirX features include a Smart Token Fund (STF) that connects traders with investors, an advanced trading interface with real-time open order books, and robust security measures, making it a leading platform for cryptocurrency trading in India.

13. How has CoinDCX contributed to financial inclusion?

Answer: CoinDCX’s diverse product offerings, such as lending and futures trading, along with its educational initiatives, have empowered users to participate in the crypto economy, supporting financial inclusion and innovation in the financial sector.

14. What is the impact of Zebi’s technology on the real estate sector?

Answer: Zebi’s blockchain solutions have streamlined property registration and management processes, reducing fraud and enhancing data integrity and transparency in the real estate sector.

15. Why is Unocoin considered a pioneer in the Indian crypto market?

Answer: Unocoin is considered a pioneer because it was one of the first platforms to make cryptocurrency accessible in India, introducing innovative features like SIPs for Bitcoin and merchant payment processing, thus setting the stage for broader crypto adoption.

Conclusion

The blockchain landscape in India is rapidly evolving, with startups across the country driving innovation and adoption. These ten startups exemplify the diverse applications of blockchain technology, from enhancing financial services and securing data to revolutionizing supply chain management and digital identity verification. As blockchain technology continues to mature, these startups are poised to play a crucial role in shaping the future of various industries in India and beyond.

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