The web3 community of India has grown exponentially over the past few years. This is due to the increasing interest of developers to build decentralized applications and services. Although there aren’t any Indian stocks related to web3 in India since web3 is really a new space. In this article, we will be covering all the top startups that are based out of India in the web3 space along with information like funding and what they provide. Here are a few startups in India that you should look for if you are interested in the web3 space.
Polygon
It is India’s biggest startup in the web3 space. It was founded by Indian entrepreneurs Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun. It is built on a blockchain network which is called Ethereum and has solved a few problems in the web3 space. This Ethereum-based framework and blockchain protocol is used by developers to build a scalable decentralized application and services on that network. Ethereum is known to resolve the root problem of decentralized application which is the high fees and transaction time that is associated with using a blockchain network. Polygon is also known to own its own crypto token which is Matic and is reported to have crossed over $14 billion this year, 2022. Polygon is also known to have investors like Mark Cuban who is a billionaire entrepreneur and many more investments from key global figures.
Biconomy
It is Founded by Aniket Jindal, Ahmed Al-Balaghi, and Sachin Tomar, and biconomy is known to offer cross-chain transactional protocol in blockchain networks. It operates across multiple blockchains and offers multiple APIs also known as an application programming interface for integrating a decentralized payment gateway in an application so as to make it accessible to a local user. It has raised over $9 million in the funding round and has a native token called Bico.
Huddle01
I’m sure you have heard of this or at least used it for video conferences. It offers video conferences with reduced latency of connectivity by using a decentralized framework for video calling. It was founded by Ayush Ranjan and Susmit Lavania in Noida. It uses edge computing technology by leveraging the decentralized network of blockchain to conduct video conferences with ease.
It is known to offer all the features that other centralized video conferences like Google meet, Microsoft teams, and Zoom is known to provide. The founders have claimed to increase the adoption rate.
KoineArth
It is a rising Indian web3 platform that targets enterprises with web3 services. It saw prominence in the year 2021 and has been associated with the British automobile brand, which is backed by china MG motors. They have partnered with KoineArth to provide a blockchain platform to its users which is a decentralized driving data platform. The data is used with the consent of the user which can be used for claiming insurance and other tasks. This startup has also helped MG Motors to introduce an NFT also known as a non-fungible token in India in the crypto space. The goal of entering into web3 space is to provide security and sharing of data within a concise network. KoineArth is owned by Praphul Chandra and has raised $1.8 million in pre-Series in the year 2021.
Arcana
It was founded by Aravindh Kumar, Abhishek Chaudhary, and Mayur Relekar, and has recently raised $2.3 million stating that it is planning to launch its own token which is XAR. It is seeking to introduce its own community and strengthen its own core product which is a decentralized system that helps in privacy and data storage platform based on the Ethereum blockchain. The decentralized interface of the platform is user-friendly. It is also known to provide the most readily implementable decentralized platform for storing data and providing web3 services.
Conclusion
To summarise the whole article, we have covered startups like polygon, bioconomy, huddle01, KoineArth, Arcana and have covered their founders, funding that they have received, what they provide, their tokens, and upcoming news, etc. If you wish to invest in these startups then you might have to contact their founders since these are not publicly listed companies hence do your own due diligence before investing in any startups. In case you are interested in web3 stocks that are present globally then do check out our article on web3labs which is web3 stocks globally in case you are interested in web3 space. There are many articles related to web3 space on web3labs so do check that out, you will definitely like it.
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