SUMMARY
The accelerator was announced in December 2021 and saw applications from more than 270 startups
The first cohort includes 31 startups from around the world
Polygon has also set aside a grand prize of $250K for the winning startups, along with a prize pool worth more than $12 Mn from the funding partners
PolygonLEAP 2021 Accelerator, launched by the Web3 unicorn Polygon and Lumos Labs and supported by incubation venture Buidlers Tribe has announced its first cohort of 31 startups.
The four-month-old accelerator is aimed at developing Web3 startups, with a special focus on India. In its first cohort, PolygonLEAP 2021 has finalised 31 out of 270+ startup applications from across the world.
The 31 startups within the first cohort of PolygonLEAP 2021 will also not only receive $250K prize but also reap benefits of the $12 Mn funding pool in which CoinDCX, Digital Finance Group, Elevation Capital, Hashed, Jsquare, Jump Capital, Lightspeed, Picus Capital, Sino Global Capital and Woodstock Fund will be participating.
According to a statement, Polygon has selected startups that are developing solutions across multiple industries, however, the entertainment sector has led the race – with startups developing solutions in gaming, payments, Metaverse, NFTs and so on.
Sandeep Nailwal, the cofounder of Polygon, said, “At Polygon, we envision an open and borderless world and strive to empower budding developers to build this new world. We look forward to working with the selected startups and continuing this journey of building a brighter future for Web3.”
The 31 startups that have been selected in the first cohort of the PolygonLEAP 2021 originate from Asia, North America, South America, Europe, and Oceania. Out of these 18 are India based, while the rest hail from various countries.
Founded in 2017 by Anurag Arjun, Jaynti Kanani, Mihailo Bjelic and Sandeep Nailwal, Mumbai-based Polygon (formerly Matic Network) is a blockchain scalability platform.
Polygon had raised $450 Mn from some of the biggest names in the venture capital ecosystem, last month.
The round was led by Sequoia Capital India with participation from more than 40 major VC firms including SoftBank, which invested from the Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and others.
According to the company, Polygon PoS has seen a billion transactions recorded last year. More than 130 Mn unique addresses and over 2.67 Mn monthly active users now generate some 3 Mn transactions per day, which is said to be 2x what Ethereum does.
In December, Polygon acquired Ethereum scaling startup Mir Protocol for $400 Mn. This was Polygon’s second acquisition in the zero-knowledge rollup (ZK rollup) space after Hermez Network, which it took over in August 2021. Besides this gaming and social media company Hike also raised funds from Polygon in January this year.
The Blockchain industry has been expanding rapidly with the NFT market surpassing $40 Bn in value in 2021, the addressable market of the metaverse being estimated at $8 Tn and blockchain adoption in capital markets projected to reach $27 Tn as early as 2027, according to studies by Starfleet, TBlock, and Genesis Hack.
Inc42 has compiled the list of the 31 startups part of the first cohort of the PolygonLEAP 2021, detailing their operations from the Polygon directory and primary research.
Indian Web3 Startups That Are Part Of PolygonLEAP 2021
Vayupankh
Founded In: 2021
Headquarters: Chattisgarh
Founded by Ankur Rakhi Sinha, Vayupankh.io allows companies to take their existing systems from Web2 and Web3, create their own Chains, create NFT marketplaces, tokens and Swaps. It is planning to launch DApps for gaming on the platform soon.
StaTwig
Founded In: 2016
Headquarters: Hyderabad
StaTwig is a SaaS startup focused to solve supply chain failures such as counterfeiting, black-marketing and stockouts by capturing the journey of every single unit of product in the supply chains.
Founded by Sid Chakravarthy, StaTwig has partnered with the likes of AWS, Tech Mahindra, Twilio, Intel and UNICEF. Its flagship solution is a VaccineLedger assisting multiple health departments with the Covid-19 vaccines.
PredictRAM
Founded In: 2020
Headquarters: Delhi NCR
PredictRAM is a Decentralised Finance (DeFi) platform that allows risk management using its blockchain-based synthetic platform. The company tokenises the IT assets of the users and creates synthetic tokens that allow for creating, settling, and trading of decentralised derivatives.
3bewte
Founded In: 2021
Headquarters: Bengaluru
3bewte is a social network that features a decentralised community of autonomous communities based on Web3 technologies. Founded by Krishna K V and Vighnesh Velayudhan, the company allows users to build their own community and earn $BEW, the startup’s token, for fan engagement. The users can then spend the $BEW for in-platform purchases.
CommitPool
Founded In: 2020
Headquarters: Bengaluru
CommitPool is a self-help platform built on Polygon’s Web3 platform that combines self-care goals with cryptocurrency rewards. A user can commit to a goal, stake some DAI on achieving the goal, and get rewarded after the goal is achieved.
Higin
Founded In: 2022
Headquarters: Bengaluru
Founded by Sitaram Kakarlamudi, Higin is a Web3-based platform that allows gamers to earn in cryptocurrency. The startup also allows creators to have their own web3 commerce platform and developers to integrate Higin in their games, apps, and web3 platforms.
OracleMovies
Founded In: 2020
Headquarters: Chennai
Founded by Senthil Nayagam, OracleMovies is an NFT platform that creates and sells NFTs from movies in multiple languages such as English, Hindi, Tamil, Telugu, and other regional languages. NFTs that users own are their own and are traceable using blockchain.
Filmrare
Founded In: 2021
Headquarters: Bengaluru
The startup, founded by Ravi Krishnan, Filmrare calls itself a ‘metaverse cinematheque’. As the term suggests, the company hosts regular film screenings – short films, indie creators, etc – in their metaverse called the Decentraland.
The-Ally
Founded In: 2020
Headquarters: Bengaluru
The-Ally is a Web3.0-based decentralized distribution network where video creators, rightsholders and aggregators, gain end-to-end control on their content, data also earnings. The startup was founded by Pratibha and Nitin Narkhede.
Zippy Fitness Inc
Founded In: 2021
Headquarters: Delhi NCR
Founded by Sunny Makroo, Zippy is an healthtech platform developed in the metaverse to make indoor running more interactive. The users can download the app, connect the phone with either the treadmill or the compatible hardware, and jump in the metaverse to run along on a virtual track with friends.
wowTalkies
Founded In: 2019
Headquarters: Chennai
Founded by Ritesh Kant, Sarvana Sai Natarajan and Karikalan G in 2019, wowTalkies is a social platform for movie fans, content creators and artists, for engaging everyone at different levels such as chatting and playing games and also an NFT sale of collectables, celebrity stickers, etc.
Spheron Protocol
Founded In: 2020
Headquarters: Bengaluru
Spheron Protocol is a decentralised cloud storage offering, allowing users to deploy their apps via decentralised storage in a few steps.
Alter.game
Founded In: 2022
Headquarters: Bengaluru
Cofounded by Arjun Shetty and Amar Subbaiah, Alter.game is a full-stack metaverse where users can create an avatar, meet people in the metaverse, play games and create NFTs and games within the Alter (the metaverse). The creators can also sell the same to earn cryptocurrency or fiat currencies.
Haqean
Founded In: 2020
Headquarters: Bengaluru
Founded by Hanaan Hashim, Haqean uses quantum randomness to help users detect and eliminate counterfeit products. Its flagship product, SID-Q, ensures that the product’s authenticity can be verified by both investigators and consumers.
respct.club
Founded In: 2021
Headquarters: Delhi NCR
respct.club is a Web3 Platform for content creators to manage and run their own economies and have control over their data and distribution. Founded by Srijan Jain and Utsav Singla, the startup uses level-based social NFTs, incentivising fans through perks and engagement.
The Mechaverse
Founded In: 2022
Headquarters: India
The Mechaverse is an NFT marketplace launched by Abhinav Chauhan, that allows users to buy NFTs called Mechas. Users can also gain access to the native metaverse and the native crypto token once they own a ‘Mecha’.
Deefy
Founded In: 2020
Headquarters: Delhi NCR
Deefy is a web3 DeFi startup that allows users to take out loans and rent & mortgage NFTs they own, ultimately building a credit score. Users get to avail the value generated by their NFTs on Deefy’s platform. The startup was founded by Amogh Tiwari and was featured in Inc42’s 30 Startups To Watch – February 2022 edition.
Inshaan Corp
Founded In: 2018
Headquarters: Bhubaneshwar
Inshaan is an AI escrow-based marketplace for content creators, influencers, and YouTubers that was founded by Faiz Khan. Inshaan also claims to be India’s first AI and blockchain-powered gig aggregator super app, allowing users to create portfolios and offer services on the platform.
International Web3 Startups That Are Part Of PolygonLEAP 2021
Fabwelt
Founded In: 2021
Headquarters: Germany
Fabwelt creates a gaming ecosystem and amplify the fun with in-game NFTs, Play to Earn and DEFI. Founded by Loet de Hooge and led by CEO Abhishek Pegada, Fabwelt also has its own crypto token, the FabweltToken. It offers in-game assets and collectables such as NFTs, cross-game identity and multi-tiered tournaments.
Energy8
Founded In: 2021
Headquarters: Russia
Energy8, also known as E8, is a gaming platform where users can play to earn, making passive income through the company’s game-based crypto-token. Essentially, the users can play the games that partner with E8 and ear the E8 Token.
Energy8 also joined the Polygon network of crypto tokens in the same year. Currently, Energy8 supports two PC games – Minecraft and GTA 5. Its future plan involves the integration of Energy8 into other games.
Deakte
Founded In: 2021
Headquarters: Indonesia
Founded by Rasyid Karomi, Deakte is a cryptocurrency trading and payments startup with its token $Dpay that is compatible with ERC 1363 ERC-20 tokens, saving gas fees and making payments efficient. It is now in the process of developing a B2B crypto payments platform, using technologies such as QR code and facial recognition.
MooPay
Founded In: 2020
Headquarters: Canada
Founded by Kamaljeet Singh and Ajay Pal Singh, MooPay is a crypto payments solutions provider that allows users to receive payments in mainstream crypto tokens without needing the technical know-how. Along with this, the startup also provides plugins for major platforms and a stack of B2B payment solutions.
AccuChain
Founded In: 2019
Headquarters: USA
AccuChain is an HRtech platform that incorporates AI/ML and blockchain to verify resumes and help organisations hire people. Founded by Maura Sparks and Tim Connelly, the platform also allows users to create validated resumes and also has a platform for looking for jobs and hiring people.
Hito Wallet
Founded In: 2019
Headquarters: Germany
Hito Crypto Wallet is a hardware-based crypto wallet with a device in the form factor that holds a user’s crypto holdings on a secure system, accessible by APIs and a companion app. Founded by Mike Kirillov, the wallet is currently inviting users to join a waitlist for its hardware wallet.
Inevitable Studio
Founded In: 2021
Headquarters: Portugal
Inevitable Studio offers crypto educators a platform to issue certificates to their students and these certificates are stored as NFTs and can be verified with the help of blockchain. The educators can offer content for Web3 education and have multiple features that make it easy for educators to monetise their skills. Inevitable was founded by Kayna Oliveira.
AMPLE.STREAM
Founded In: 2021
Headquarters: US
Founded by Kenny Johns and Matt Wood, AMPLE.STREAM is an NFT platform that allows users to mint and sell NFTs based on music, movies or shows on the startup’s blockchain-based marketplace and streaming platform.
Nomad Nodes
Founded In: 2021
Headquarters: New Zealand
Nomad Nodes is a rewards-based blockchain WiFi platform that provides WiFi across nodes across multiple locations. Users can install a firmware update on routers compatible with the software Nomad Nodes has developed, and then they can get rewards in form of crypto tokens.
Paytera
Founded In: 2021
Headquarters: Uruguay
Founded by Jeremy Hefter and Juan Laborde, Paytera is a B2B crypto payments solution provider that is aiming to build up the Latin American payment infrastructure and reward users who make crypto payments using its wallet and platform with its own native token.
Zeniverse
Founded In: 2021
Headquarters: Croatia
Zeniverse is a metaverse platform, founded by Benjamin Kloes that features a play-to-earn (P2E) system that allows users to play games to earn its native crypto token.
iDos Games
Founded In: 2020
Headquarters: Kazakhstan
iDos Games, founded by Aidos Ryskeldinov, has created a metaverse of play-to-earn (P2E) games, allowing users to earn the native token, iDos Games Token, by playing one of the 5 games it offers – 2408Cube3D, Match 3, MMPORG, Shootgun and Idle RPG.
Note: The above list only includes 30 names. Metablocks Limited is also part of PolygonLEAP 2021. However, we couldn’t find details about the same. We have reached out to Polygon for the same and shall update once we have the details.
