Top 12 Ethereum Startups and Companies to Watch [2023]

Have you ever wondered who is on the list of Ethereum Companies with the highest growth rates?

You’re not alone.

There are hundreds of Ethereum Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 12 fast-growing Ethereum Startups that have top-tier venture capital funding.

What is Ethereum Startups?

Ethereum startups are companies or initiatives which are built on the Ethereum blockchain. These startups are typically focused on developing decentralized applications, or dApps, that leverage the Ethereum network and its tokens. 

Ethereum startups are often focused on building applications which provide solutions in the finance, healthcare, or gaming industries. Examples of Ethereum startups include decentralized exchanges, prediction markets, and non-fungible token (NFT) marketplaces.

Top 12 Fastest-Growing Startups In Ethereum

1) Kraken

Kraken is a cryptocurrency exchange that offers spot and futures trading for Bitcoin, Ethereum, and more than 40 additional cryptocurrencies.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2011
• Founders: Jesse Powell
• Number of employees: 1001-5000
• Funding amount: $118,500,000
• Number of funding rounds: 12
• Number of investors: 15

You can find their website here.

2) Minds

Minds is a cryptocurrency social network and private messaging software that pays members in cryptocurrency for their online services.

Details of the startup:

• Country: United States
• City: Wilton
• Started in: 2011
• Founders: Bill Ottman, Ian Crossland, Jack Ottman, John B. Ottman, Mark Harding
• Number of employees: 11-50
• Funding amount: $17,381,300
• Number of funding rounds: 5
• Number of investors: 2

You can find their website here.

3) Blockdaemon

Blockdaemon is a blockchain deployment facilitator that maintains blockchain network nodes and payment rails.

Details of the startup:

• Country: United States
• City: Los Angeles
• Started in: 2017
• Founders: Konstantin Richter
• Number of employees: 11-50
• Funding amount: $39,630,000
• Number of funding rounds: 10
• Number of investors: 29

You can find their website here.

4) SFOX

SFOX is a bitcoin prime dealer for institutional and professional traders.

Details of the startup:

• Country: United States
• City: Los Angeles
• Started in: 2014
• Founders: Akbar Thobhani, George Melika
• Number of employees: 11-50
• Funding amount: $23,120,000
• Number of funding rounds: 6
• Number of investors: 14

You can find their website here

5) Qtum

Qtum is a public blockchain platform that is open source.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2016
• Founders: Jordan Earls, Patrick Dai
• Number of employees: 11-50
• Funding amount: $17,000,000
• Number of funding rounds: 5
• Number of investors: 13

You can find their website here.

6) Ren

Ren is a public protocol that allows value to be transferred between blockchains.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2017
• Founders: Taiyang Zhang
• Number of employees: 11-50
• Funding amount: $34,000,000
• Number of funding rounds: 2
• Number of investors: 7

You can find their website here.

7) Newton.co

Canadians have access to a no-fee bitcoin trading platform.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2018
• Founders: Dustin Walper, Erynn Saunders, Tyson Leslie
• Number of employees: 11-50
• Funding amount: $15,000,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

8) Crypto.com

Crypto.com is a cryptocurrency and payment website that allows users to purchase, sell, and pay with cryptocurrency.

Details of the startup:

• Country: Hong Kong
• City: Sai Wan
• Started in: 2016
• Founders: Bobby Bao, Gary Or, Kris Marszalek, Rafael Melo
• Number of employees: 501-1000
• Funding amount: $26,700,000
• Number of funding rounds: 1

You can find their website here.

9) imToken

imToken is the largest Ethereum digital asset wallet in the world.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2016
• Founders: Ben He
• Number of employees: 51-100
• Funding amount: $40,000,000
• Number of funding rounds: 2
• Number of investors: 8

You can find their website here.

10) Binance

Binance is a cryptocurrency exchange platform that mixes economics and digital technology.

Details of the startup:

• Country: Malta
• City: Valletta
• Started in: 2017
• Founders: Changpeng Zhao, Yi He
• Number of employees: 251-500
• Funding amount: $25,000,000
• Number of funding rounds: 8
• Number of investors: 13

You can find their website here.

11) Indorse

Indorse is a skills validation platform that assists candidates in validating their technical skills while also assisting employers in finding better prospects.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2017
• Founders: Avadhoot Kulkarni, David Moskowitz, Gaurang Torvekar
• Number of employees: 11-50
• Funding amount: $13,825,177
• Number of funding rounds: 3
• Number of investors: 2

You can find their website here.

12) Bitfinex

Bitfinex is a digital asset trading platform that provides digital currency traders and global liquidity providers with cutting-edge services.

Details of the startup:

• Country: Taiwan
• City: Taipei
• Started in: 2012
• Founders: Giancarlo Devasini, Raphael Nicolle
• Number of employees: 51-100
• Number of funding rounds: 1
• Number of investors: 2

You can find their website here.

FAQs

Is Ethereum Business Profitable?

Yes, Ethereum can be a very profitable business. Ethereum is a decentralized platform that enables developers to create applications and create their own digital tokens on the Ethereum blockchain. 

The Ethereum network is a global network of computers that runs on the Ethereum blockchain, allowing users to securely store, send, and receive Ether and other digital assets. Ethereum also allows users to build decentralized applications (dApps) and conduct smart contracts.

The potential to make a profit from Ethereum is immense, as users of the platform can create their own digital tokens and sell them on the Ethereum network. This can generate profits from the sale of tokens and from the appreciation in the value of the tokens.

Additionally, Ethereum miners can generate income by confirming transactions and collecting the associated fees. Furthermore, developers can charge for their services when building dApps on the Ethereum platform. All of these activities can result in a profitable business on the Ethereum network.

What Is The Average Investment In Ethereum?

The average investment in Ethereum startups is difficult to determine as investments can range from hundreds of dollars to millions. 

According to Crunchbase, the average investment in Ethereum startups was $2.7 million in 2020.