India is a land of budding entrepreneurs and startups that are getting encouragement from Modi’s initiatives like “Make In India” and “Digital India”.
Recently, India’s largest government-backed bank, SBI, partnered with BankChain and Intel to develop blockchain solutions.
And when the government sector is so keen on looking at blockchain tech, then how could the Indian private sector (i.e. blockchain-based companies and startups) not join the party?
So that’s why today I thought I would cover a few of the interesting blockchain startups of India.
11 Blockchain Startups From India
- Offices: New Delhi
- Founding Year: 2006
- Founders: Ish Goel
SOMISH is a technology and product development company based out of India since 2006 with expertise in building automation systems using cutting-edge technologies. For over 10 years, they have continuously served top-line customers with their ability to re-engineer, design, develop and implement automation systems.
They are now advocating and building the blockchain based solution in India and rest of the world. Their team is providing blockchain solutions and has a clear understanding of key tenets behind Blockchain Technology, having worked on a wide variety of blockchain use-cases like:
- P2P Insurance
- Aviation Maintenance Log
- Subsidy Distribution
- Crisis Fund Distribution
- Bill Discounting
- Tokenized Fund Transfer
Particularly if you are a firm or an individual who want to implement blockchain solutions then definitely you should once look at Somish’s flagship blockchain solution i.e. GovBlocks, which is a blockchain protocol for decentralized governance built on Ethereum.
Somish was the winner a London Blockchain Week 2017 and they also organized the September’s India Blockchain week 2017 for which CoinSutra was their blogging partner. If you want to know more about Somish then you should definitely look at this chat between Ish & Harsh.
As the name suggests, they are working on easy remittances built on top of the blockchain.
They are an innovative company trying to solve some of the long-standing issues of fintech, banking, and payments through their flagship blockchain-based products.
Some of their products such as EzyRemit and EzyHedge are also available for demos.
Signzy aims to couple artificial intelligence with the blockchain to make secure, compliant and user-friendly products.
Their flagship Signzy API enables:
- Improved user experience with multi-device support.
- Faster onboarding using real-time APIs.
- Enhanced security and compliance.
They have three main products:
- RealKYC – Bank-grade digital KYC in real-time
- Digital Contracts – Secured digital contracts enabled by Aadhaar and Biometrics
- ARI – Algorithmic Risk Intelligence
Primechain is a young Indian startup that aims at “building blockchains for a better world”.
They provide blockchain solutions to industries such as banking, capital markets, government, healthcare & pharmaceuticals, insurance, manufacturing, aviation, shipping & logistics, telecommunications, and defense & military.
They have quite a few blockchain-powered products:
- Primechain CONTRACT
- Primechain API
- Primechain LOAN
- Primechain Charge Registry
- Primechain KYC
- Primechain MONEY
They have also formed a community of banks called BankChain.
This startup is building next-gen solutions for the digital economy based on distributed ledger technologies because they believe that the blockchain is going to revolutionize digital economy.
They mainly work in three key industries:
- Supply Chain
Their core products are:
- CRYPTO LOCKER – Store and share documents on blockchain using a set of APIs
- DIGI RAIL – Multi-party shared database to optimize supply chain data flow
6. Darwin Labs
Darwin Labs is building applications for the blockchain, virtual reality, artificial intelligence, and other technologies which will help mankind evolve.
To accelerate this process, they run a blockchain startup incubator for Southeast Asia called Satoshi Studio.
KrypC makes it possible for various businesses to implement blockchain tech while providing a platform for these businesses to quickly do so.
They have developed a proprietary framework for developers, clients, and IT companies to implement blockchain tech effectively in less time and with less cost.
They follow a three-step strategy to do this:
- STEP 1 Drag and Drop
Define your innovation in the KrypC platform by simply dragging and dropping various elements of your innovative business models.
- STEP 2 Quick API Integration
Connect your business applications through the KrypC API framework.
- STEP 3 Unlock
Let your business team experience and adapt their innovative business models.
- Headquarters: Noida
- Founding Year: 2016
- Founders: Nidhi Chamria
Sofocole is a service-based company that provides blockchain solutions to its clients across the globe.
They provide consultation on wallets, exchanges, private blockchains, and smart contracts products.
Some of their products which are already on the market are:
- SofoCap – Supply chain financing solution
- SofoChain – Product supply chain solution
- SofoInsure – Autonomous claim processing solution
Unocoin is a well-funded Bitcoin wallet based out of India.
They provide a liquidity exchange instead of a traditional peer-to-peer exchange. One can buy, sell, and store Bitcoin with Unocoin.
They also provide unique Bitcoin SIP services for its customers with easy to remember Bitcoin addresses via a Netki partnership.
- Headquarters: Visakhapatnam, Andhra Pradesh
- Founding Year: 2015
- Founders: Babu Munagala
Zebi specializes in providing blockchain based solutions to governments and enterprises to leverage, protect their high value & sensitive data.
The company is founded, mentored and managed by Oxford, MIT, Stanford, and IIT veterans. And aims to solve the problem of Big data in India.
- Headquarters: Bangalore
- Founding Year: 2017
- Founders: Abhinav Ramesh
WandX is a robust, multi-blockchain DEX platform and a protocol for trade.
In other words, WandX is the world’s first multi-blockchain decentralized token exchange ecosystem along with a hedging product powered by the Basket Protocol.
Indian Blockchain Startups
So that’s all from my side in this article of Indian blockchain startups.
If there are any more interesting startups that we haven’t talked about here, do let us know. Note: We have deliberately left a few startups off because they are running ICOs now and we are not yet sure about them.
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