About Blockchain Technology sector in Bengaluru, India
The Blockchain Technology sector in Bengaluru, India comprises 343 companies, including 100 funded companies having collectively raised $1.08B in venture capital money and private equity. Out of these, 14 are Series A+ funded, and 1 has achieved unicorn status.
Blockchain Technology sector in Bengaluru, India has seen 3 acquisitions.
This sector includes includes all companies that develop the Blockchain technology.
Blockchain Technology sector is also known as Web 3 Technology, Blockchain Ecosystem, Distributed Ledger Technology or Decentralized Technology.
Infrastructure to build Blockchain technology, Smart Contracts, Cryptocurrencies, Non Fungible Tokens, Blockchain Services are included in this sector.
Top Blockchain Technology Companies in Bengaluru, India
There are 343 Blockchain Technology startups in Bengaluru, India which include Polygon, Mudrex, CoinSwitch, Vauld, IndiGG. Out of these, 100 startups are funded, with 14 having secured Series A+ funding, and 1 achieving unicorn status.
Over the past 10 years, an average of 30 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Bombay, IIT Kharagpur and BITS Pilani.
Here is the list of top Blockchain Technology startups in Bengaluru, India
1. Polygon
Developer of scalable blockchain interoperability protocols. It offers a suite of solutions, including cross-chain protocols and zero-knowledge (ZK) rollups, designed to enhance the scalability and security of blockchain networks. These protocols enable seamless asset transfer and interaction across different blockchains, improving the overall user experience. The company also provides developer tools and resources to support the creation of decentralized applications (dApps) on its platform. It fosters a vibrant developer community and offers grant programs to encourage innovation within the ecosystem.
Key facts about Polygon
- Founded Year: 2017
- Location: George Town (Cayman Islands)
- Stage: Series D
- Total Funding till date: $451M
- Investors: Peak XV Partners, Coinbase and 61 Others
- Latest Funding Round: Series D, Feb 02, 2022, $*****
- Tracxn Score: 81/100 What is this?
- Competitors Rank: 1 of 38 Competitors
2. Mudrex
Platform for trading digital and crypto assets. The platform facilitates buying, selling, and managing a portfolio of cryptocurrencies. It offers tools for trading futures contracts and investing in curated crypto baskets. The platform provides resources to educate users about crypto investing. It also facilitates futures trading and supports global fiat on- and off-ramps.
Key facts about Mudrex
- Founded Year: 2018
- Location: Bengaluru (India)
- Stage: Series A
- Total Funding till date: $21.5M
- Investors: Y Combinator, Nexus Venture Partners and 17 Others
- Latest Funding Round: Series A, Jul 20, 2022, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 1 of 651 Competitors
3. CoinSwitch
Cryptocurrency exchange and trading service provider. The platform enables users to buy, sell, and trade a wide range of digital assets using Indian Rupees. It aggregates liquidity from multiple crypto exchanges to present competitive real-time pricing and unified portfolio management. Its services include spot trading, futures contracts with leverage, systematic investment plans, and automated trading bots suited for both novice and advanced users. It provides secure infrastructure, encryption protocols, and proof-of-reserve practices to enhance fund safety. Trading tools include limit orders, charting interfaces through integrations, and API access for automation workflows.
Key facts about CoinSwitch
- Founded Year: 2017
- Location: Bengaluru (India)
- Stage: Series C
- Total Funding till date: $302M
- Investors: Tiger Global Management, Ribbit Capital and 13 Others
- Latest Funding Round: Series C, Oct 06, 2021, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 13 of 4,377 Competitors
4. Vauld
Cryptocurrencies platform offering diversified solutions. It offers services such as lending & borrowing crypto using token-based crypto assets, trading of cryptocurrencies, buying & selling crypto, and more. Its funds allocated for lending are lent out to borrowers with a float maintained for withdrawals on the platform. It also provides APIs to enterprises for offering crypto services such as wallets, lending, exchange, and more.
Key facts about Vauld
- Founded Year: 2018
- Location: Bengaluru (India)
- Stage: Series A
- Total Funding till date: $27.5M
- Investors: Valar Ventures, Pantera Capital and 16 Others
- Latest Funding Round: Series A, Jul 29, 2021, $*****
- Tracxn Score: 59/100 What is this?
- Competitors Rank: 35 of 2,577 Competitors
5. IndiGG
Online community-based gaming platform. It is an online community-based gaming platform for users to connect, discover, and play games. Users can play games like "Axie infinity", "Pegaxy", "Nyan heroes", and others. They allow players to become clan chiefs and receive rewards, as well as live tournaments, quests, and games.
Key facts about IndiGG
- Founded Year: 2021
- Location: Bengaluru (India)
- Stage: Acquired
- Total Funding till date: $6M
- Investors: Jump Capital, Lightspeed Venture Partners and 23 Others
- Latest Funding Round: ICO, Mar 08, 2022, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 9 of 1,044 Competitors
Companies founded year-on-year in the Blockchain Technology sector in Bengaluru
79 Blockchain Technology startups in Bengaluru were founded in 2021 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | - |
2024 | 6 |
2023 | 29 |
2022 | 54 |
2021 | 79 |
2020 | 24 |
2019 | 31 |
2018 | 45 |
2017 | 27 |
2016 | 14 |
Stage-wise distribution of Blockchain Technology sector companies in Bengaluru
Out of the total 343 Blockchain Technology companies in Bengaluru, 100 have secured funding. Among them, 14 have reached Series A or higher, and 5 to Series B or beyond.
Founded - 343
Funded - 100
Series A+ - 14
Series B+ - 5
Series C+ - 5
Company Stage | No. of companies |
|---|---|
Founded | 343 |
Funded | 100 |
Series A+ | 14 |
Series B+ | 5 |
Series C+ | 5 |
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Funding Trends in the Blockchain Technology sector in Bengaluru
Total funding year-on-year in the Blockchain Technology sector in Bengaluru
The Blockchain Technology sector in Bengaluru saw a total funding of more than $1.07B in the last 10 years. The most amount of funding was in 2022 at more than $631M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $5M |
2024 | $23M |
2023 | $27.3M |
2022 | $631M |
2021 | $366M |
2020 | $5.09M |
2019 | $471K |
2018 | $10.9M |
2017 | - |
Recent Funding Rounds in Blockchain Technology in Bengaluru
In the year 2025, till August 2025, Blockchain Technology companies in Bengaluru have raised $10M in equity funding across 3 rounds.
In the same period last year (i.e. till August 2024), Blockchain Technology companies in Bengaluru had raised $7.03M across 7 rounds.
So, 2025 has seen a 42.27% rise in funding in Blockchain Technology companies in Bengaluru as compared to 2024.
Here are some recent, important funding rounds in Blockchain Technology companies in Bengaluru:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 4957 | Aug 28, 2025 | ||
Series A | 7833 | Jul 09, 2025 | ||
Series A | 9822 | Jun 28, 2025 | ||
Seed | 3980 | Nov 25, 2024 | ||
Seed | 9534 | Nov 09, 2024 |
Top Investors in Blockchain Technology in Bengaluru
Polygon is the top investor in Blockchain Technology companies in Bengaluru based on number of companies invested.
Here are some top investors in Blockchain Technology companies in Bengaluru:
Investor | Location | Top Portfolio Companies |
|---|---|---|
George Town (Cayman Islands) | ||
Palo Alto (United States) | IndiGG and Pillow Fund | |
Cambridge (United States) | - | |
Bengaluru (India) | Polygon and CoinSwitch | |
Redwood City (United States) | - |
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M&A activity in Blockchain Technology sector in Bengaluru
In the year 2025, till August 2025, 1 acquisition happened in Blockchain Technology sector in Bengaluru. Last year, in 2024, a total of 1 acquisition happened in Blockchain Technology sector in Bengaluru.
Here are some recent, important acquisitions in Blockchain Technology sector in Bengaluru:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Aug 27, 2025 | ||
Business Acquisition | Nov 01, 2024 | ||
Business Acquisition | Feb 23, 2023 |
Acquisition trends in Blockchain Technology sector in Bengaluru
Here are the acquisition trends in Blockchain Technology sector in Bengaluru:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2025 | 1 |
2024 | 1 |
2023 | 1 |
2022 | - |
2021 | - |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
2016 | - |
Colleges which produce the most Blockchain Technology companies in Bengaluru
Companies founded by alumni from top colleges in the Blockchain Technology in Bengaluru
Most number of Blockchain Technology startups in Bengaluru have been founded by alumni from IIT Bombay, IIT Kharagpur and BITS Pilani.
College | No. of companies |
|---|---|
IIT Bombay | 16 |
IIT Kharagpur | 13 |
BITS Pilani | 12 |
IIT Delhi | 6 |
IIM Ahmedabad | 5 |
IIM Calcutta | 5 |
IIT Guwahati | 5 |
IIT Kanpur | 4 |
IIT Roorkee | 4 |
IIT Madras | 3 |
Total funding in Blockchain Technology companies founded by alumni from top colleges in Bengaluru
In the last 10 years, IESE Business School graduates' Blockchain Technology companies in Bengaluru have raised the most funding among top colleges. IIT Madras alumni are second, and IIT Bombay alumni are third.
College | Total Funding |
|---|---|
IESE Business School | $451M |
IIT Madras | $40M |
IIT Bombay | $35.5M |
BITS Pilani | $33.1M |
IIT Kharagpur | $27M |
Massachusetts Institute of Technology | $21M |
IIM Calcutta | $20.1M |
Stanford University | $7.2M |
University of Cambridge | $7.2M |
University of Manchester | $7.2M |
Top News in Blockchain Technology in Bengaluru
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Spheron Taps Wire Blockchain to Bridge Compute Power and Interoperability for AI Apps
Blockchainreporter•Jul 17, 2025•Spheron, Blockchain
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Polygon's Sandeep Nailwal discusses rebuilding Polygon after dismantling the boardMoneycontrol•Jun 16, 2025•Polygon
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Sandeep Nailwal Appointed CEO of Polygon Foundation, Plans for AggLayer and Polygon PoSFintech Finance•Jun 13, 2025•Polygon
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Immutable, the Fastest Growing Gaming Ecosystem, Joins Forces with Partners at GDCPR Newswire•Mar 18, 2025•Immutable, RavenQuest, Polygon, Sequence and 1 other
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Karpous running on Polygon redefine DeFi and Real-World Asset investmentsBeInCrypto•Feb 12, 2025•KARPOUS, Polygon
