About Blockchain Technology sector in India
The Blockchain Technology sector in India comprises 2.48K companies, including 384 funded companies having collectively raised $2.14B in venture capital money and private equity. Out of these, 53 are Series A+ funded, and 3 have achieved unicorn status.
Blockchain Technology sector in India has seen 20 acquisitions and 1 IPO.
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 India
There are 2,479 Blockchain Technology startups in India which include Polygon, Hike, CoinDCX, CoinSwitch, Brahma. Out of these, 384 startups are funded, with 53 having secured Series A+ funding, and 3 achieving unicorn status.
2026 has seen the creation of 3 Blockchain Technology startups in India. Over the past 10 years, an average of 191 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Bombay, BITS Pilani and IIT Delhi.
Here is the list of top Blockchain Technology startups in 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 B
- Total Funding till date: $451M
- Investors: Peak XV Partners, Coinbase and 62 Others
- Latest Funding Round: Series B, Feb 02, 2022, $*****
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 1 of 41 Competitors
2. Hike
Provider of blockchain based mobile gaming platform. The company is building Rush gaming universe mobile-only blockchain gaming platforms where players can use their skills to play, compete & win. Also, it offers a social platform for messaging, sharing, gaming, and crypto.
Key facts about Hike
- Founded Year: 2012
- Location: Delhi (India)
- Stage: Series D
- Total Funding till date: $261M
- Investors: Bharti SoftBank, Foxconn Electronics and 24 Others
- Latest Funding Round: Series D, May 06, 2022, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 1 of 77 Competitors
3. CoinDCX
Cryptocurrency exchange and trading service provider. The platform enables users to buy, sell, and trade a broad range of digital assets using money with support for spot trading, margin and futures markets, and lending features. It offers fast KYC onboarding, seamless fiat conversion, and integrated products such as decentralized lending, staking, and an educational portal. Security protocols include proof-of-reserve audits and industry-standard infrastructure. The system delivers real-time analytics, trade automation tools, risk management dashboards, and multi-channel customer support.
Key facts about CoinDCX
- Founded Year: 2018
- Location: Mumbai (India)
- Stage: Series D
- Total Funding till date: $247M
- Investors: Polychain, Bain Capital Ventures and 31 Others
- Latest Funding Round: Series D, Oct 15, 2025, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 8 of 4,984 Competitors
4. CoinSwitch
Broker-based online crypto trading and exchange platform. It 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: 75/100 What is this?
- Competitors Rank: 9 of 4,984 Competitors
5. Brahma
Blockchain-based network for Defi applications in the finance industry. It enables users to access risk-managed, cross-chain strategies for sustainable yield. It offers composability with multiple protocols across chains in a single flow to deliver a superior diversified yield.
Key facts about Brahma
- Founded Year: 2021
- Location: Delhi (India)
- Stage: Acquired
- Total Funding till date: $6.71M
- Investors: Framework Ventures, Greenfield Capital and 13 Others
- Latest Funding Round: Seed, Dec 09, 2023, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 389 Competitors
Companies founded year-on-year in the Blockchain Technology sector in India
3 new startups have been founded so far in 2026 in the Blockchain Technology sector in India. 538 Blockchain Technology startups in India 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 |
|---|---|
2026 | 3 |
2025 | 31 |
2024 | 86 |
2023 | 157 |
2022 | 279 |
2021 | 538 |
2020 | 178 |
2019 | 154 |
2018 | 273 |
2017 | 217 |
Stage-wise distribution of Blockchain Technology sector companies in India
Out of the total 2,479 Blockchain Technology companies in India, 384 have secured funding. Among them, 53 have reached Series A or higher, and 28 to Series B or beyond.
Founded - 2,479
Funded - 384
Series A+ - 53
Series B+ - 28
Series C+ - 25
Company Stage | No. of companies |
|---|---|
Founded | 2,479 |
Funded | 384 |
Series A+ | 53 |
Series B+ | 28 |
Series C+ | 25 |
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Funding Trends in the Blockchain Technology sector in India
Total funding year-on-year in the Blockchain Technology sector in India
The Blockchain Technology sector in India saw a total funding of more than $1.81B in the last 10 years. The most amount of funding was in 2022 at more than $973M. There has been a total funding of $82M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $82M |
2025 | $24.9M |
2024 | $56.7M |
2023 | $45.6M |
2022 | $973M |
2021 | $551M |
2020 | $35.7M |
2019 | $9.35M |
2018 | $28.6M |
2017 | $1.57M |
Recent Funding Rounds in Blockchain Technology in India
In the year 2026, till April 2026, Blockchain Technology companies in India have raised $82M in equity funding across 2 rounds.
In the same period last year (i.e. till April 2025), Blockchain Technology companies in India had raised $2.39M across 6 rounds.
So, 2026 has seen a 3335.75% rise in funding in Blockchain Technology companies in India as compared to 2025.
Here are some recent, important funding rounds in Blockchain Technology companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 6665 | Apr 06, 2026 | - | |
PE | 6719 | Mar 02, 2026 | ||
Seed | 3999 | Dec 29, 2025 | ||
Seed | 7011 | Dec 23, 2025 | ||
Series A | 5044 | Dec 16, 2025 |
Top Investors in Blockchain Technology in India
Sandeep Nailwal is the top investor in Blockchain Technology companies in India based on number of companies invested.
Here are some top investors in Blockchain Technology companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
- | ||
Menlo Park (United States) | ||
George Town (Cayman Islands) | ||
Palo Alto (United States) | ||
Port Blair (India) | - |
M&A activity in Blockchain Technology sector in India
In the year 2026, till March 2026, 1 acquisition happened in Blockchain Technology sector in India. Last year, in 2025, a total of 1 acquisition happened in Blockchain Technology sector in India.
Here are some recent, important acquisitions in Blockchain Technology sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Mar 18, 2026 | ||
Business Acquisition | Aug 27, 2025 | ||
Business Acquisition | Nov 01, 2024 | ||
Business Acquisition | Nov 10, 2023 | ||
Business Acquisition | Feb 23, 2023 |
Acquisition trends in Blockchain Technology sector in India
Here are the acquisition trends in Blockchain Technology sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 1 |
2025 | 1 |
2024 | 1 |
2023 | 3 |
2022 | 3 |
2021 | - |
2020 | 1 |
2019 | 4 |
2018 | 5 |
2017 | - |
IPOs in Blockchain Technology in India
In the year 1996, till March 1996, 1 IPO happened in Blockchain Technology sector in India.
Here are some recent, important IPOs in Blockchain Technology sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 18, 1996 | Bombay Stock Exchange (BSE) |
Colleges which produce the most Blockchain Technology companies in India
Companies founded by alumni from top colleges in the Blockchain Technology in India
Most number of Blockchain Technology startups in India have been founded by alumni from IIT Bombay, BITS Pilani and IIT Delhi.
College | No. of companies |
|---|---|
IIT Bombay | 26 |
BITS Pilani | 25 |
IIT Delhi | 24 |
IIT Kharagpur | 20 |
IIT Kanpur | 15 |
IIT Roorkee | 9 |
Indian School of Business | 7 |
IIM Ahmedabad | 6 |
IIM Calcutta | 6 |
IIT Guwahati | 6 |
Total funding in Blockchain Technology companies founded by alumni from top colleges in India
In the last 10 years, IESE Business School graduates' Blockchain Technology companies in India have raised the most funding among top colleges. IIT Bombay alumni are second, and Imperial College London alumni are third.
College | Total Funding |
|---|---|
IESE Business School | $451M |
IIT Bombay | $280M |
Imperial College London | $261M |
IIT Delhi | $137M |
University of Pennsylvania | $121M |
Wharton School | $121M |
IIT Madras | $50.3M |
BITS Pilani | $34.7M |
IIT Kharagpur | $32.5M |
IIT Kanpur | $29.3M |
Top News in Blockchain Technology in India
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WazirX Obtains Singapore Court Approval for Restructuring, Partners with BitGo for Fund SecurityDeccan Herald•Oct 13, 2025•WazirX
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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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