Two Indian-American start-ups, Alchemy and Legion Technologies, featured in Forbes magazine’s annual list of 25 venture-backed companies, are likely to become unicorns.
Alchemy, co-founded by Nikil Viswanathan and Joseph Lau, makes it easier to read and write information onto blockchains like Ethereum and Flow, reported Forbes Africa.
Alchemy provides the leading blockchain development platform powering millions of users in 197 countries globally. It also empowers developers to build great applications that tap into the blockchain revolution by providing the fundamental building blocks to create the future of technology.
Backed by Stanford University, Coinbase, the Chairman of Google, Charles Schwab, and founders and executives of globally leading organisations, Alchemy powers billions of dollars of transactions for top companies worldwide.
The San Francisco-based firm is expected to generate revenue of an estimated $20 million. It helps clients such as PwC, Unicef, and OpenSeat hold over $30 billion in volume annually.
Its service starts free for smaller developers, but larger customers pay a monthly fee.
The co-founders of Alchemy previously launched Down to Lunch, a popular social hangout iPhone app.
Legion Technologies by Sanish Mondkar uses artificial intelligence (AI) and machine learning (ML) to help its customers forecast demand and optimise labour costs. It also gives employees’ liberty to choose when and how they want to work.
Legion’s labour budgeting enables Legion WFM to create labour budgets using accurate, long-term forecasts backed by ML and operating hours, labour models, wage rates, and other rules used for executing weekly schedules. Budgeting can be fine-tuned using templates and what-if models and then set for automatic execution with Legion Automated Scheduling.
As per the IANS’ report, Mondkar had worked with SAP as chief product officer and left the job in 2015. He had travelled around the country with his two dogs, talking with people outside Silicon Valley.
Consequently, in 2016, he founded the workforce management software company that helps employers such as Dollar General, SoulCycle, and Philz Coffee oversee their hourly workers.
Legion revenues are expected to be double this year, to $11 million, with increased attention on the workforce was recruited during the pandemic.
