About Biconomy
Biconomy is a company based in Dubai (United Arab Emirates) founded in 2019 by Sachin Tomar, Ahmed Al-Balaghi, and Aniket Jindal. It operates as a API-as-a-Product. Biconomy has raised $10.5 million across 3 funding rounds from investors including Binance, Coinbase and Bain Capital. The company has 1 employees as of March 29, 2024. Biconomy has completed 1 acquisition, including Klaster. Biconomy offers products and services including Biconomy SDK. Biconomy operates in a competitive market with competitors including IoTeX, Synthetix, Dash, Origin Protocol and Metis, among others.
- Headquarter Dubai, United Arab Emirates
- Employees 1 as on 29 Mar, 2024
- Founders Sachin Tomar, Ahmed Al-Balaghi, Aniket Jindal
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Biconomy Labs Private Limited
- Date of Incorporation 16 Dec, 2020
- Jurisdiction Gurugram, Haryana, India
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Annual Revenue
$505.39 K (USD)837.12as on Mar 31, 2022
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Net Profit
$38.48 K (USD)2794.3as on Mar 31, 2022
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EBITDA
$56.25 K (USD)3693.17as on Mar 31, 2022
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Total Equity Funding
$10.5 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Binance
& 36 more
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Employee Count
1
as on Mar 29, 2024
- Investments & Acquisitions
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Products & Services of Biconomy
Biconomy offers a comprehensive portfolio of products and services, including Biconomy SDK. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A toolkit for simplifying blockchain interactions for developers.
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Funding Insights of Biconomy
Biconomy has successfully raised a total of $10.5M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(11 Jan 2021)
- Investors Count 37
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series B - Biconomy | Valuation |
investors |
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| Jul, 2021 | Amount | Series A - Biconomy | Valuation | Mechanism Capital , Digital Asset Capital Management | |
| Jan, 2021 | Amount | Seed - Biconomy | Valuation | Eden Block |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Biconomy
Biconomy has secured backing from 37 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Binance, Coinbase and Bain Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital and funds of fund firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Venture capital funding and acceleration are provided to sector-agnostic startups.
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Founded Year | Domain | Location | |
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Venture capital arm of ConsenSys
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Biconomy
Biconomy has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Klaster. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cross-chain capabilities for wallets and contracts are provided.
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2023 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Biconomy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Biconomy Comparisons
Competitors of Biconomy
Biconomy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as IoTeX, Synthetix, Dash, Origin Protocol and Metis, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Blockchain-based connectivity for IoT applications is facilitated.
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| domain | founded_year | HQ Location |
Derivatives liquidity protocol
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| domain | founded_year | HQ Location |
Dash is recognized as a digital cash cryptocurrency solution.
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| domain | founded_year | HQ Location |
A blockchain platform is provided for building decentralized marketplaces.
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| domain | founded_year | HQ Location |
Blockchain platform is utilized for developing and launching decentralized applications.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Biconomy
Frequently Asked Questions about Biconomy
When was Biconomy founded?
Biconomy was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Biconomy located?
Biconomy is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Who is the current CEO of Biconomy?
Ahmed Al-Balaghi is the current CEO of Biconomy. They have also founded this company.
Is Biconomy a funded company?
Biconomy is a funded company, having raised a total of $10.5M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Jan 11, 2021.
How many employees does Biconomy have?
As of Mar 29, 2024, the latest employee count at Biconomy is 1.
What is the annual revenue of Biconomy?
Annual revenue of Biconomy is $505.39K as on Mar 31, 2022.
What does Biconomy do?
Biconomy is established as a provider of blockchain infrastructure solutions. It operates within the technology sector, focusing on simplifying user interactions across multiple blockchain networks. Tools and APIs are developed to enhance developer experience and enable seamless cross-chain operations. The company is dedicated to addressing complexities in blockchain adoption through innovative solutions.
Who are the top competitors of Biconomy?
What products or services does Biconomy offer?
Biconomy offers Biconomy SDK.
How many acquisitions has Biconomy made?
Biconomy has made 1 acquisition, including Klaster.
Who are Biconomy's investors?
Biconomy has 37 investors. Key investors include Binance, Coinbase, Bain Capital, HTX, and CoinFund.
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