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Successful Startups from Armenia to Watch for in 2023 and Beyond: Driving Innovation and Redefining the Future Together

10 Aug 2023

Armenian Startups
Armenia is home to some of the most industry disrupting startups in the medical crypto, AI, and design fields. With a large pool of tech talent and a history of noteworthy astrophysicists and chess grandmasters, it is no surprise that there are so many successful innovative tech startups. 

What are the Most Successful Armenian Startups?

Picsart, a top content editing platform, became Armenia’s first unicorn company in 2021. Krisp, SupperAnnotate, and Podcastle are some of Armenia’s other successful startups that are key players in their respective industries. 

Major Players in AI

Armenia is at the forefront of making AI technology more accessible to the public with disrupting technologies. 


“Can machine learning solve the issue of background noise?” This question is what led Davit to quit Twillo and partner up with Arto to start Krisp in 2017 to enable people to be more effective communicators in online calls. 

Krisp is a software solution that provides Noise Cancellation, Voice Cancellation, Echo Cancellation, and more to individuals and businesses, helping them to be heard clearer during online meetings in an increasingly remote world. With just a press of a button, millions of people around the world can now enjoy calls, crystal clear. 

Super Annotate

Two brothers took a risk quitting their PhDs to start the company that would bring accessible data annotation to everyone. 

What is data annotation? Data annotation is the action of adding meaningful and informative tags to a dataset, making it easier for machine learning algorithms to understand and process the data.

SuperAnnotate broke stereotypes about the need for niche-expert annotators, like medical professionals, to generate high-quality training datasets and is now being used by professionals everywhere. 


Who knew recording a podcast could be such easy work? With a mission to democratize access to broadcast storytelling through easy-to-use tools that are professional yet fun, Podcastle has made quality content a reality for so many. They have an entire arsenal form text to speech to mp3 to text, and everything you need for a spick and span podcast, audiobook, or for education purposes. 

At the Forefront of Content Creation

Check out these platforms that make beautiful design and editing more accessible. 


Picsart is the first unicorn in Armenia, a startup to hit a billion dollar valuation without being listed on the stock market. They are an all-in-one platform where people can create, customize and share images and videos. With dozens of easy to use tools to use they are used by +150 million active users to generate amazing content. 


What if there was a platform which would allow people with no editing skills to create their own visual content easily and efficiently? This question led to Narek Safaryan to establish Renderforest, an all-in-one branding platform with a mission to empower everyone in the world to design anything without design skills.

Trusted by 20M+ users and 100k+ high-end companies, Renderforest has dozens of tools to edit videos, build websites, make content, and design logos. 


Founder and CEO Tigran Nazaryan has a vision to automate WordPress by providing the ultimate, no-code experience for the entire website development lifecycle. With an AI powered website builder, marketing planner, and an entire arsenal of hosting tools, 10web provides a complete solution to creating and running a high ranking website with ease. 


ARLOOPA Inc. is an augmented reality (AR) and virtual reality (VR) app and game development company which provides advanced AR and VR services. Using augmented reality, image-recognition and computer vision technology, ARLOOPA converts the real world into a content-rich, interactive experience.


A short-form video creation platform, Zoomerang provides templates to help people and businesses create and share original and trending videos. Since the launch of the app in 2018, Zoomerang has earned more than 30 million downloads.

Taking Medicine to New Heights


Expper Technologies 

Robin the Robot is the  AI powered robot friend developed by Expper Technologies, with the mind of a 7 year old. Robin the Robot talks to kids and makes them feel safe at the doctor, keep the elderly company, and anywhere else people need a smiling face.

Denovo Sciences 

No Dataset, no Problem. The Denovo Platform can design and optimize chemical structures without the need of training datasets. Instead of developing different chemical structures for multifaceted diseases, the platform can generate complex chemical structures that can tackle multiple issues at once with minimal side effects.

Expanding the World of Blockchain Technologies



Transferring crypto currencies is expensive. Layerswap connects over 17 exchanges and 20 blockchains which allows users to make fast transfers with minimal fees in record time. 


Coinstats is the #1 crypto portfolio manager where you can track your crypto across different exchanges and wallets. 

Tools for Your Marketing Needs



“How has now one invented this yet?” We often think of cool new product ideas and are baffled that they aren’t in the market yet. But does the market really want your product? Enter Prelaunch, the platform that measures market demand for product ideas by testing the market with an ad and landing page. Using this data they can accurately predict what the market demand for the product will be at different prices and what feedback potential customers have. 


Influencer, meet brand. Brand, meet influencer. Instead of mass outreach and going back and forth with offers, ViralMango offers a place for brands to instantly match with micro and nano influencers who are ready to collaborate. Venture fund BigStory VC recently invested a quarter of a million into this startup to help brands easily find ready to collaborate influencers. 


Insight powered by AI. Leanbe goes through content on slack, user feedback, etc to determine what associations people have and what other things people want are. It can also validate ideas, constantly checking feedback. Helps build roadmaps without bias. Measures product metrics. 


Want the upper hand on the competition? What better way than to track their every move on their website from content updates to source code changes. Hexowatch lets you set up custom notifications for any changes, specific keywords, or downtime. They have an entire Hexact AI ecosystem to check out. 

Keep the Office Running Smoothly



DMARC is a system that checks incoming emails for spam, phishing, and other potential harms, and prevents it from reaching your servers. EasyDMARC acts as a first line of defense for corporate email structures and is becoming the largest DMARC ecosystem. 


Cognaize scans thousands of financial documents and uses its smart AI to organize and summarize data. With continuous use, automation accuracy gets ever-better, improving data quality and helping to deliver powerful competitive advantages for banks, insurers, asset managers, and financial data providers.

Lucky Carrot 

Coworkers can do more to reward their coworkers than just saying thank you. Lucky Carrot is a rewards platform that lets coworkers give thanks to each other for hard work, great new ideas, or for exceptional teamwork, through lucky carrots. Lucky Carrots are collected then redeemed for different offers like gift cards to Amazon, local restaurants, experiences, and more. 

Armenian Startups to Look out for

With more capital flowing into Armenia, more and more startups are reaching success. Armenia is no longer just an outsourcing hotspot but a center of innovation in the global market. There are many top name companies that have branches in Armenia but more and more entrepreneurs are opening their own startups to provide solutions for their respective markets.

Shant Abramyan

Digital Marketing Specialist

Specializing in Digital Transformation, Market Trends, and Emerging Technologies.

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