The 5 next billion-dollar startups to watch out for in 2023

The 5 next billion-dollar startups to watch out for in 2023
Photo by Slidebean on Unsplash

Startups – Development in the world of tech is driven by innovation, creativity, and fresh minds. The business world is changing daily, and 2023 is expected to boost many startups that provide technology services and invest in sustainability and innovation.

In the new year dawning, breakthroughs will continue to take place, and the big tech players are about to remain the same (Amazon, Apple, Google, Meta, or SpaceX). However, the market is now more competitive than ever, making CEOs seek more creative ideas.

Startups will continue introducing revolutionised technologies, disrupting industries, and laying the foundations of technological development and progress.

A significant number of new startups are forecast to dominate various commercial fields within 2023. One challenge that many CEOs are dealing with is how to focus on the right tech areas for their startups and in which innovative ideas to invest more. To do that, they need to overcome challenges, present the most advanced solutions available in the market and stay focused on their goals.

Right now, thousands of new and innovative startups have presented their visions and sparked great attention from investors all over the globe. It is really hard to choose among them, but we have prepared a list of 5 thriving startups that everyone needs to watch out for in 2023.

Photo Credits: Renovai website

#1 – Renovai

Renovai was founded in 2019; it aims to empower retailers with AI-based visual commerce solutions. Co-Founders Alon Gilady and Alon Chelben observed that regardless of industry, consumers today are faced with an overwhelming array of choices during online shopping. They talked about the theory of “choice paralysis”: the more options people must choose from, the more complex the decision becomes.

“It’s just too hard to make up our minds. Finding the right path to a happy shopper’s heart and mind is tricky and complex, especially when items are presented as individuals, lacking context,” Renovai notes. “With minimal integration time and resources, we provide real-time visual AI solutions empowering retailers to create unbeatable, inspiring, and personal interactions with shoppers”.

AI is expected to gain significant ground in the retail industry in 2023, and such solutions could pique the interest of new investors.

Photo Credits: 0x Labs website

#2 – 0x Labs

0x Labs is a decentralized token exchange platform launched in August 2017. “0x Labs helps businesses eliminate the complexity of accessing decentralized markets across all layers of the Web3 exchange stack. We provide solutions that can easily incorporate exchange functionality for all tokenized assets, including cryptocurrencies, DeFi tokens, and NFTs, at the best prices and with the lowest transaction costs. By using 0x technology, businesses will have more time to focus on what matters: their product,” said Amir Bandeali, Co-founder and Co-CEO of 0x Labs.

0x Labs visualizes a world that will tokenize all forms of valuable commodities on public blockchains. Back in April 2022, the startup raised $70M to continue expanding Web3’s core exchange infrastructure, and 0x Labs is expected to grow even more in 2023.

Photo Credits: AtoB website

#3 – AtoB

AtoB is a startup that mainly helps truck drivers to combine fleet and fuel expenses in one transparent and easy-to-use solution. The startup has invented the AtoB fleet fuel card, which benefits drivers to save on their fuel costs by offering special discounts.
“AtoB can help you keep your operating costs low and your drivers on the road for longer with our zero-fee fuel card. Powered by VISA, our fuel card is accepted everywhere that Visa is accepted—that means you can even use our card at local small business mom-and-pop fuel stations. Plus, our card covers other truck-related expenses, including repairs, parts, tolls, insurance, and maintenance,” the startup highlights.
The reduction of fuel costs and the control of fuel quantity are two critical issues that, due to the energy and economic crisis, are expected to dominate in 2023. Highly sophisticated solutions that ensure sustainability, like this one provided by AtoB, are about to be more popular and valuable than ever.

Photo Credits: Patch website

#4 – Patch

Global warming is one of the most urgent issues that need to be addressed on a global scale, which makes climate tech startups predominant in this eco-friendly revolution. Founded in 2020, Patch is a cutting-edge startup that provides high-tech solutions to drastically lower companies’ carbon footprint and reduce their emissions as quickly as possible.
Back in September 2022, this innovative climate technology platform raised $55 million in its latest funding round to spur businesses to take climate action by making it easier to strike deals in the carbon market.
“Our infrastructure lowers the barrier to entry for both businesses and climate project developers looking to enter the carbon market which, in turn, could help unlock 20% of the climate change solution the world so desperately needs,” Patch’s Chief Executive Officer and Co-Founder Brennan Spellacy said in Reuters.

Photo Credits: Celona website

#5 – Celona

Celona was founded in 2019 and focuses on combining 5G technology, edge computing, and machine learning. The tech startup was born from the idea that combining 5G radio technology, edge computing, and machine learning software will fundamentally change how organizations work and do business. Celona’s founding team members have been part of companies like Qualcomm, Aruba, and Cisco and have built products spanning technologies from chipsets to systems to cloud-based software. The startup has turned its vision into reality with an end-to-end 5G LAN solution that meets the enterprise’s connectivity needs of AI and edge-compute powered apps. In 2023, Celona is expected to develop more innovative 5G products and services to shape the new era of private mobile networking.

George Mavridis is a freelance journalist and writer based in Greece. His work primarily covers tech, innovation, social media, digital communication, and politics. He graduated from the Aristotle University of Thessaloniki with a BA in Journalism and Mass Communication. Also, he holds an MA in Media and Communication Studies from the Malmö University of Sweden and an MA in Digital Humanities from the Linnaeus University of Sweden.