Standing out from the crowd is extremely difficult given that over 305 million start-ups are established worldwide each year. Only businesses with innovative ideas and distinct market strategies have a chance of weathering their first year, let alone turning a profit.
We combed through the startup scene to identify the emerging companies whose development is still on track to reach significant heights in 2022. Here are six new tech startups to watch in 2023 and beyond, ranging from ground-breaking podcasting platforms to cutting-edge renewable energy technologies.
5 Tech Startups to Watch in 2023
The multi-media and podcasting industries are infamously difficult to break into. Callin appears to break this mold, which is a podcasting app that offers users a streamlined platform from which to both produce and consume live audio material.
The new Silicon Valley startup, which debuted in 2021, aims to merge the best facets of social audio with a novel idea dubbed “social podcasting.” The startup’s founder, David Sacks, claims that this idea creates a first for the sector by fusing the finest elements of social audio, like live conversations and social discoverability, with podcasting.
Callin was able to secure $12 million in financing right away from backers like LAUNCH and Goldcrest Capital. With over 10,000 downloads presently on the Play Store alone, the disruptive platform is expected to have a very successful year and deserve one of tech startups to watch in 2023 as the podcasting industry continues to grow, closely followed by ad income.
NFTs and other blockchain technologies are quickly becoming commonplace, but there are still barriers to entrance due to a lack of financial and crypto literacy. Phantom seeks to address this issue by giving users a simple digital wallet to store and manage NFTs.
The startup was established in Silicon Valley in 2021, and it originally hosted its operations on the Solana blockchain platform. To further increase user access and to bring communities from the entire web3 area together, the software has recently added support for Ethereum and Polygon.
And it’s not just its supported properties that are growing. The app attracted 2 million active users in just six months of its debut, and it currently has an estimated 3 million users. Phantom’s co-founder and CEO, on the other hand, believes that the network will soon be helping anywhere between 10 and 50 billion users, and that this is just a drop in the ocean.
Phantom’s upward trend is undeniable, even though some people may find these numbers to be implausible. The unicorn status cryptocurrency company has already raised $109 million in series B financing to back its move to Ethereum and Polygon this year. It goes without saying that in 2023, we should anticipate to see a lot more of this software application.
Wander, a short-term rental startup established in 2021, operates similarly to apps like Airbnb and Vrbo. Wander, in contrast, owns every property it features and targets digital nomads specifically—a growing group of workers who can work from anywhere as long as they have a reliable internet link.
The Austin-based business made a wise choice by focusing on the 16.9 million-strong US digital nomad market (up nearly 10 million from 2019). In less than a year, the startup accumulated 30,000 users on its waitlist and more than 2,000 founding members, who each pledged $100 during the company’s beta period.
Wander’s peak occurred in 2022, though. The business introduced Altas in October, a program that allows Wander clients to make investments in the homes they reserve. This tech startups to watch in 2023 anticipates that this plan will double the number of rentals that are accessible by this year, and with Credit Suisse recently committing to invest $100 million in the business, it appears that Wander’s dream may soon come true.
Reverion is a startup with roots in Munich that is quickly gaining traction for its proactive strategy to addressing the climate crisis. By rethinking the way biogas is extracted, Rerverion hopes to address some of the significant problems plaguing the renewable energy industry as it grows exponentially.
The company’s brains behind have discovered a method to use fuel cells to maximize the process’ efficiency after seven years of field research. Stephan Herrmann, CEO of Reverion, claims that this innovative approach can increase methane extraction efficiency from 60% to 80%, a significant improvement over the industry average efficiency increase of 0.2% per year.
Additionally, tech startups to watch in 2023 like Reversion is working on ways to enhance energy storage in addition to streamlining the production of biofuels, adopting a multifaceted approach to generating sustainable electricity.
The company from Bavaria received €7 million in funding as of June of this year, earning a spot on Tech Crunch’s Top 20 company Battlefield. We are eagerly awaiting Reverion’s next moves given that the company is presently testing 10 module power plant units, each with the ability to power 100 households.
5. Valar Labs
Valar labs is yet another company that is committed to improving the world. The Palo Alto-based business employs cutting-edge artificial intelligence (AI) technology to address important issues in the treatment of cancer.
In order to unlock the potential of image data and assist oncologists in making much more informed choices about their patients, the business, founded in 2021 by researchers from Harvard and Stanford, has invested in clinical-grade deep learning.
Valar Labs has the potential to significantly advance cancer treatment by utilizing cutting-edge technology to address one of the world’s oldest issues. This innovation is quite significant in the medical field, where available tools aren’t doing enough to eliminate uncertainty.
The startup collected an astounding $4 million in a seed funding round this April. Damir Vrabac, Anirudh Joshi, and Viswesh Krishna, the company’s founders, plan to use these funds to expand their business operations and research and development initiatives, so we can anticipate great things for the biotech company in the future.
In conclusion, it is set to be an exciting year for tech startups to watch in 2023. The companies highlighted in this article are just a few of the startups that are likely to make waves in 2023. From biotechnology to blockchain, these startups are disrupting various sectors, and their growth is poised to continue in the coming years.