Many entrepreneurs are relocating from the old tech hubs to conventional ecosystems. Thanks to favorable income tax systems, tropical climate and cosmopolitan population, Miami is now one of these popular tech hubs where individuals invest in startups.
Not long ago, 2 tech moguls by the names of Keith Rabois and David Blumberg set up camp in Miami. Then the city's mayor began promoting Miami as one of the best tech startup hubs, and tech entrepreneurs started to notice that Miami has more to offer than the ocean views and glitzy nightlife it’s known for.
Interested in which companies have taken advantage of this trend in Miami? Take a look at Benzinga’s list of the Top 10 Tech Startups to Watch in Miami in 2021 to find out more.
The Top Tech Startups in Miami
Here are our picks for the best tech startups in Miami, Florida.
1. Best Health Tech Startup: Neocis, Founded 2012
The COVID-19 pandemic has brought to reality the consequences of a flawed healthcare system. If nothing else, the pandemic underscores the importance of investing in healthcare and healthtech, or health care that implements . Against this backdrop, it’s obvious that more companies will invest in health systems. The dental industry has been among the most affected as many patients postponed this essential service.
Yomi by Neocis was founded in 2012 and offers robot-assisted surgery to patients, minimizing close encounters among individuals. As a breakthrough in dental surgery, Yomi is one of the best tech startups and a company to watch as it's dedicated to providing patients with personalized dental care, teledentistry options and improved safety.
Using Yomi, the dental surgeon is able to manipulate the equipment and conduct precise procedures from a distance. It's a surprisingly safe process, and patients often recover more quickly than from similar procedures.
In 2020, Neocis raised $72 million in a Series D round of funding with investors from Vivo Capital and Mithril Capital Management.
2. Best Virtual Companionship Startup: Papa, Founded 2017
Modern lifestyle is coupled with increasing demands. As the large Boomer generation reaches old age, the number of people needing attention is increasing, so there’s great need for support systems to help the elderly juggle their daily lives.
Papa is a rapidly growing company in Miami with over 100 personnel. Papa opened its doors in 2017 and has already expanded to several states. Papa offers virtual companionship to the elderly, assisting with both social interaction and daily tasks.
With COVID-19, the risk of the elderly contracting the virus is higher, limiting their movement. Papa's services are in demand, and the $20 billion raised in 2018 supports its services in Miami and other states.
3. Best Home Appliances Startup: Plum, Founded 2017
Miami summers are hot, and demand for cold beverages is high. Automatic beverage dispensers and similar innovative appliances are a popular addition to the kitchens of area homes.
Plum provides a convenient go-to option for a ready, chilled drink. Plum manufactures automatic wine dispensers that enable users to benefit from automatically preserved and chilled wine for several months right in their homes -- talk about a dream come true!
Plum offers automatic wine dispensers to help individuals preserve yet enjoy their wine with a push of a button. By enjoying this innovative solution, homeowners have replaced their traditional wine ranks and enjoy beverages on tap.
In December 2020, Plum launched the automatic design that integrates this wine dispenser with cabinetry. Retailing at $1,500, the demand is projected to increase as people seek personalized solutions.
4. Best Resources for Businesses Startups: StartUp Miami, Founded 2012
New investors make decisions off the information at hand, so getting started on the right foot is important to attract investors down the line. Miami is a global city that attracts thousands of entrepreneurs every year who need resources and support to get started on a stable foundation.
StartUp Miami is a company to watch and offers vital information to the entrepreneur community. Here, you'll find a guide to jobs, workplaces, events, business exhibitions, workplaces analyst reports and current news.
The company was founded in 2012 and offers consultancy and accelerator services to investors through coaching, training and consulting. StartUp Miami's main objective is to empower businesses to turn their investment ideas into viable businesses. StartUp Miami uses six technologies that include GoDaddy DNS and SPF.
5. Best Creative Arts Startup: Arteza, Founded 2015
With developments in technology and a thriving social culture, the Miami Arts scene is being redefined by demand for arts and craft products and services. There are thousands of products available to professional artists, hobbyists, artists and more.
Arteza is one the highest-ranking companies in South Florida and comes at position 32 out of Inc 5000 list of companies. Despite being around for only six years, Arteza has an impressive growth rate of 7.551% for the last three years. It deals with craft supplies and arts through an e-commerce platform that sells directly to customers.
With a 2 million customer base, the company is on a growth trajectory and has raised at least $24 million in Series A funding. The business model is unique; the firm has a legacy in the arts and crafts industry.
6. Best Accounting Processes Startup: Taxfyle, Founded 2015
Startups are faced with the tricky decision of hiring permanent staff. Often, outsourcing essential services such as taxation and consultancy can save companies time and money. An independent contractor ensures your company complies with all the taxation rules.
Established in 2015, Taxfyle is a tech startup that offers a one-stop-shop tax service for individuals and businesses. The firm links businesses to a wide network of some of the best CPA accounting firms in the U.S. to help you file your returns and ensure compliance. The company is rapidly growing, and in 2020, Taxfyle ranked at position 74 in the Inc. 5000 list.
7. Best Fintech Startup: NovoPayment, Founded 2004
Digital payment solutions are the critical accelerator of growth as they provide options for individuals to buy and pay for services. Globally, fintech companies are the new frontiers for development.
NovoPayment is one such firm that offers card, payment and digital banking solutions. It accelerates innovation in financial services through the Backend-as-a-Service, also known as BaaS, or API-enabled banking as a service platform. Baas is an interphase service that connects mobile apps to cloud.
The company was founded in 2004 and operates in 13 markets through a full-stack model that supports modern financial solutions. NovoPayment launched its instant virtual issuing and disbursement solutions in September 2020.
8. Best Human Resource Tech Startup: SmartBarrel, Founded 2016
Miami attracts some of the best professionals in the U.S. New businesses sprout each day in its increased labor market, securing the need for human resource management.
Founded in 2016, SmartBarrel uses IoT systems to design human resources solutions that automate employee management and minimize time wastage or labor fraud.
The company provides technologically advanced devices that enable firms to manage their employees. With this device, managers can monitor project progress, employee performance and ease the retrieval of daily reports. Therefore, supervisors can designate duties and get real-time notifications on all processes.
The device is solar-powered and thus valuable for outdoor projects such as construction. The last funding round of August 10, 2020 saw the company raise $160,000, showing investor confidence.
9. Best Logistic Startup: Cargobot, Founded 2016
The logistics industry in Miami is highly competitive and is an integrated network that connects firms and buyers via multiple transportation channels. Some of these services incorporate air, freight rail, express delivery services, maritime and truck transport. The role of the logistics industry moves goods from the source to demand locations.
Established in 2016, Cargobot offers a digital platform connecting transporters, carriers, individuals, and other stakeholders to ease the delivery system. Shippers can use this platform to develop a network of transporters or fleet operators and get real-time data on the movements of the cargo.
On the other hand, carriers can benefit from reduced deadhead miles, eliminate unnecessary loads, and get information they need. The company has sound financials according to the 2018 Funding Round, which saw it raise approximately $3 million.
10. Best e-Learning Startup: Miami EdTech, Founded 2012
All over the world, traditional classrooms are being replaced by e-learning solutions that enable learners to access information anywhere. Virtual learning changes the way students view education and pursue courses. It boosts their performance in businesses where employees can benefit from tailor-made courses that suit their departments.
Founded in 2012, Miami EdTech offers a wide variety of courses to students. The courses range from IT to entrepreneurship. What makes it unique is that it comprises hands-on applications that expose learners to the real world.
The company has partnered with industry players such as the Academy for Computer Science Education to strengthen the education ecosystem for the benefit of learners and their teachers. According to the Bureau of Labor Statistics, computer science has an impressive growth rate of 7%, and its partnership could propel the company to greater heights. Over 300 teachers have graduated from the academy in the past year and will cascade knowledge to learners.
Miami: The Next Big Tech Hub?
As more and more startups set up camp in Miami, and the surrounding tech industry seeing projections to grow to $1 billion, many have forecasted that Miami could soon rank with other tech cities such as Nashville, Tennessee, or Austin, Texas.
Miami is a city to watch, and with over 100 startups, you can never go wrong by considering its opportunities.
Interested in tech startups nationwide? Read other Benzinga rankings, like Best Tech Startups in Chicago. Or, looking for more ways to inform your investing research? Check out the Best Tech Blogs and Best Blogs for Investors for great resources.