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May 19, 2019
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Blockchain

India’s Five most promising Blockchain Startups

Below are five most promising Blockchain companies who are offering disruptive service to different industries and solving real issues in India.

Blockchain has penetrated the Indian turf with the country ranking sixth in the number of Blockchain patent approvals globally. The relatively new technology is being adopted across industries such as Retail, Supply Chain, Healthcare, Banking and so on. Only recently, the Government of India launched Blockchain powered e-marketplace for coffee sellers.

Nucleus Vision

Founded in 2014 when Blockchain was still a nascent tech, the company offers the customer management and retention solution to the Brick and Mortar companies across the globe. Recently, Nasscom did mention about Nucleus Vision in its report, citing that the company has entered into partnership with globally recognised brands such as Arvind and Raymond. Both the companies are public listed companies in India. Arvind is the house to some of the most iconic brands such as GAP, Aeropostale, USPA and so on.

Website : https://www.necleus.vision

Founded by a Harvard Product Abhishek Pitti, Nucleus Vision deploys Blockchain, IoT and AI enabled proprietary sensors in the retail stores to give retailers an overview of customer preferences and choices.

Based on the data provided by proprietary sensors, the stores can formulate their discount and product strategy. To ensure the data privacy, Nucleus Vision has a unique clause of rewarding the customers who agree to share their data with the retailers. The project has a strong team and was backed by none other than Tim Draper. Nucleus Vision is one of the Blockchain projects that has the potential to go global with their need-of-the-hour technology and solution to the retail providers. Nucleus Vision official medium channel suggests that they have entered into partnership with Korea based Zoyi Corp, and Russia based Flogmall for native token nCash integration. To the uninitiated, Zoyi Corp is a retail computing company whereas Flogmall is an e-commerce company. Going by their community video that talks about the partnership with different brands.

Elemential

A Bangalore based start-up enabling the developers to build, manage and scale applications. Founded in 2015, company raised the funding from Matrix Partners, Investopad and Digital Currency Group among others. Talking about the clients, Elemential has major names in India such as National Stock Exchange. They have a sector agnostic product which is used for solving KYC related issues, managing royalty payments for media licenses among other utilities.

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website :
http://elemential.com/

Elemential has a strong team behind the project with the Founder and CEO Raunaq Vaishoa being an alumni of IIM Bangalore and H.R. College of Commerce and Economics. With high profile clients like National Stock Exchange of India and funding from renowned investors Matrix Partners, Elemential has set the foot in the right direction.

Sofocle Technologies

The Company has been offering Industry wide blockchain solution including insurance, healthcare, finance, logistics and manufacturing. Last year this startup caught everyone’s attention by winning ‘Fullerton India Supply Chain Finance Challenge’ held at Vizag.

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Website :
https://www.sofocle.com/

Founded by Ravi Chamria, the startup recently won “Best accelerated Start-up award” at Bosch DNA 2.0 for the robust market-ready product ‘Certum’ amongst 600 participating start-ups this year. Global Supply chain market is expected to grow at the CAGR of 60% by 2027 to whopping US$6.5 billion which brightens the scene for Sofocle Technologies in India and globally.

Primechain

Started in 2016, Primechain boasts of over 33 baking and financial institutions including State Bank of India as its clients. The start-up has been featured in leading newspapers in India and is consistently gathering traction in the Blockchain space. Primechain services include Bankchain community, Trade-Chain and Custom Blockchain solutions.

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Website:
http://www.primechaintech.com/

The company has focused on bringing the banks of chain and offering viable solutions thus saving cost. Primechain features in the list for cracking deals with the biggest Banks in India. However, there is scant information available on social media platforms or the official website of the company.

RecordsKeeper

Founders Toshendra Sharma and Rohendra Singh intend to offer a Dropbox or Google Drive like service on Blockchain. The service is aimed towards offering data immutability, authenticity, Integrity and verifiability. On their website, the company stated that the technology can be used by Banking and Financial institutions, Government and manufacturing Industries and so on.

Website :
https://www.recordskeeper.co/

There is a well experienced team behind the project. Founder and CEO Toshendra Sharma has a decade of experience as Application Security Researcher and is a graduate from IIT Bombay. Others in the team also have relevant experience in the field.

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