Entrepreneurial Journey & Success story of Jaynti Kanani, Polygon Founder
A diamond Factory worker’s son Jaynti Kanani along with his colleagues (Sandeep Nailwal and Anurag Arjun) started Polygon (formerly Matic), a blockchain scalability platform at the end of the year 2017.
You must have read a lot of Indian startup stories. But the startup story we are telling today is somewhat different from them.
The story is of an Indian entrepreneur whose company’s market capitalization has recently reached more than $ 10 billion i.e. about 70 thousand crore rupees.
Had a difficult childhood
He was the son of a diamond factory worker who often struggling to pay his school fees. He lived in a small house on the outskirts of Ahmedabad in Gujarat.
He found it difficult to pay school fees due to low income of his father. He took an engineering degree after facing financial difficulties.
His ambitions then were to land a high-paying, secure, salaried job that would help pay off his father’s debt.
Then he did MBA, specializing in information technology and then worked with Deloitte, industry-leading consulting, audit, tax, and advisory service provider and then Wellspun E-commerce (where I was the CTO).
After working in many small and big companies, he has now seen such success with his venture, which he had never imagined.
However, destiny had better plans for Jaynti Kanani, the cofounder of Polygon that crossed a market capitalisation of $10 billion recently.
Then he started a website for white-collar services. The business did not scale as much as he wanted.
Jaynti started gathering information about artificial intelligence and technologies such as big data and blockchain.
Difficult to get investors
In 2017 he used to work in Housing dot com as a data scientist. After seeing a heavy load on the Ethereum blockchain, Jayanti started Matic in late 2017.
He later tried to build a several mobile apps such as a prediction market for Game of Thrones.
Initially it was very difficult for his venture to get good investors, as he was not from any major engineering institute. He raised some small funds from family members and friends.
However, Jayanti did not give up and that is why he is no longer short of investment. Later, kanani was associated with Mihalio Jelic, Serbian engineer as co-founder.
Polygon came into the limelight when the investment Mark Cuban, a billionaire was announced in it. Earlier, Polygon had received funding from Balaji Srinivasan, a serial entrepreneur and leading angel investor.
Mark Cuban was its user before investing in the firm. So he asked Cuban if he would like to invest in it and he agreed.
Mark Cuban is a one of the leading angel investor and he is getting his support to on-board entities such as Lazy.com.
After that, he did an initial exchange offering with Binance, where he raised $5 million. The company aims to provide affordable transactions on the Ethereum blockchain.
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So, we hope Jaynti Kanani will continue to shine in life even more and motivate the young entrepreneur. Sugermint wishes to emulate him on the path of success.
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