2021 was a year of international blockbusters. blockchain And Web 3.0 The environment.
The market value of crypto around the world has gone up 3 trillion dollars For the first time, the value of assets locked in DeFi has exceeded 100 billion dollarsand hundreds of NFTs sold for millions of dollars, and more.
We have also seen Indian crypto exchanges raise a lot of funding and two startups – CoinDCX And CoinSwitch Kuber – even turned into a unicorn, joined the multi-billion dollar club.
Indian builders, developers and entrepreneurs are now riding on the blockchain, web 3.0 and crypto wave, creating new things for the future.
At Your Story, we’ve been bringing you stories about the most promising and innovative innovators and projects in the space. 10 startups we covered in 2021 are leading innovation in this space.
Polygon
In the year In 2017, three software engineers decided to build a well-structured and easy-to-use platform. Ethereum Expansion and infrastructure development – a forward-thinking and ahead-of-its-time solution.
Genty Kanani, Sandeep Nilwal and Anurag Arjun. Realized Ethereum, a decentralized, open source blockchain with smart contract functionality, was dealing with scalability issues and high gas fees (transaction fees).
Solving Ethereum’s expansion challenges with their startups The founders’ scalable solutions are now widely accepted with over 3,000+ applications hosted, over 1 billion total transactions processed, nearly 100 million unique user addresses and over $5 billion in assets.
Here is the full story.
CoinDCX
In August 2021 After a, it turned into India’s first crypto unicorn 90 million dollars The Series C funding round, led by Facebook co-founder Eduardo Saverin’s B Capital Group.
Alumni of IIT Bombay Neeraj Khandelwal And Gupta takes it He launched CoinDCX with the aim of bringing various decentralized marketplaces and cryptocurrencies into one platform. The duo focused on developing a product that allows traders to trade cryptocurrency quickly, with security and ease.
Now, as one of India’s leading crypto exchanges with over four million active users, CoinDCX is looking to continue its vision to make crypto accessible in India and accelerate its efforts to bring 50 million Indians into crypto.
Here is the full story.
CoinSwitch Kuber
In 2021, announced a 260 million dollars Series C funding from Andreessen Horowitz (a16z), Coinbase Ventures and existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global.
With this, CoinSwitch Kuber becomes the second Indian crypto startup to enter the unicorn club after CoinDCX in August 2021.
CoinSwitch Kuber, launched in 2017 as if Ashish Singhal (CEO), Govind Soni (CTO) and Vimal Sagar (COO)It has become one of India’s largest crypto platforms with over 11 million registered users.
The three friends originally worked at Amazon, Microsoft and Zynga. But the desire to turn one of their hackathon experiments into a product put them on the path to entrepreneurship. So, CoinSwitch Kuber was launched.
Here is the full story.
Etherbit
Siblings Cruel And Davani VacariaBased on the surah import safe and secure hardware crypto wallets from leading global brands and make them accessible to Indian customers.
notebook And Reliable They are two leading hardware wallet brands on Etherbit. The start-up is selling merchandise. Merchandise has also started manufacturing wallet accessories (code caps) as well as backup pads (used to record wallet passwords).
Harsh declined to disclose the sales of Etherbit but said that there is traction from major cities in India as well as tier II and III cities. He said some major names from the Indian blockchain and crypto industry have bought from the store.
Here is the full story.
Biology
It started with Aniket Jindal, Ahmed Al-Balagi and Sachin Tomar in 2019, Simplifies the development and UX of blockchain-based applications using gas-efficient meta-transactions. The startup has several project integrations under its belt and has transferred millions of blockchain transactions.
Aniket compares Biconomy’s offering to Irish-American fintech startups. Strips Payment processing software and application programming interfaces.
“Stripe has simplified the payment game. We want to do the same for blockchain transactions, which includes not only payments, but also governance, smart contracts, etc. The vision is to enable users to use DApps without knowing that blockchain technology is being used in the background.
Here is the full story.
GoSats
In 2021, brothers and sisters Mohammad Roshan And Roshni Aslam He started In the midst of a crypto bull run, he set out to make bitcoin easy for the Indian masses to buy online. They then started integrating various online marketplaces and services for users to access on the GoSats app.
“With the GoSats app, we’ve made it possible for anyone to shop. ,, , ,etc., and get fractions of Bitcoin or they are saved for rewards,’ says Roshan.
And since releasing GoSats to the public in May 2021, Roshan and Roshni say they’ve had more than 17,000 users. In its early traction, GoSats raised a total of $1.25 million from Fulgur Ventures, SBX Capital, Ajeet Khurana, Sathvik Vishwanath, STACKS and Alphabit Fund.
Here is the full story.
Covalent
It brings transparency and visibility to billions of data points on assets in blockchain networks.
The startup has worked with hundreds of Web 3.0 projects and indexed billions of rich blockchain transactions.thereum, Binance Smart Chain, Polygon, Polkadot, Elrond, Near, More.
Although blockchain data is public, it is extremely difficult to retrieve it securely. Developers have to download terabytes of data and crunch the numbers just to answer simple user questions, says co-founder and CEO Ganesh Swamy.
That’s where Covalent comes in. The startup solves this problem by allowing developers to integrate the startup’s integrated API into their blockchain products, allowing users to easily view historical transactions and account balances and more.
Here is the full story.
Volt
In 2018, Darshan Bhatija And Sanju Kurian. He started which treats cryptocurrency as a separate asset class and brings the core elements of banking to crypto users.
In addition to saving their cryptos, Vold users can borrow money based on their crypto holdings without having to earn interest or spend money. You can also withdraw money by credit card.
Vald is now licensing different versions of its services in different countries. Although Indian users do not make up a significant portion of Vold’s customers, the Indian market is close to the founder’s heart.
Here is the full story.
Oropocket
It allows users to diversify their portfolios beyond traditional assets by investing in multiple digital assets such asGold and silver. It also provides financial services to clients on top of these investments, helping to keep assets liquid.
The startup will keep the gold and silver reserves allocated to the user when they make a digital purchase. Proprietary and futures transactions are all in Ethereum, Tezos and Polygon blockchains.
It has two other products: Open divorce And UniFarm.
OpenDefi is a decentralized finance (DeFi) product that combines real-world and synthetic assets (tokenized derivatives) and allows uniform users to hold their crypto holdings while claiming up to 250 percent annual percentage yield (APY) income.
Here is the full story.
Bitbns
In 2017 Gaurav Dhaka kick off in BengaluruBut it has faced a two-year challenge amid the crypto ban on RBI. Believing that crypto is unstoppable makes Bitbns run with a strong team.
Today, the exchange has 3.2 million users And about the monthly transaction volume 1.5 billion dollars. Bitbns also has it 300+ crypto tokens It is listed, which is more than any other Indian crypto exchange.
With the emerging crypto dynamic, Bitbns has launched one of the first. Bitcoin SIPs, followed by one Ethereum SIP.
“Our goal was to build a platform to help users make money. If a platform achieves this, it will have the highest stickiness. We knew that Bitcoin SIP returns were higher than other traditional forms of investment, and so we went ahead with it,” he says.
Here is the full story.
