Company lists
The Mumbai edition · 2026

AdTechcompanies in Mumbai

Ad networks, mobile advertising, marketing technology, data & AI, startups and more: the companies building adtech in Mumbai, Maharashtra, with their founders, funding, team size and business models.

53 company profiles11 with reported revenue3 with recorded fundingOctober 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent adtech business events in India

Funding, M&A, contract wins and launches involving 738 adtech companies in India, last 24 months: 7 M&A deals · 2 launches · 1 Contract · 1 funding round. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Mar 2026.

ContractService

Vertoz · client: Noida Metro Rail Corporation Limited

Vertoz Limited has secured the exclusive inside advertising tender for the Aqua Line of Noida Metro Rail Corporation Limited.

Advertising
LaunchGlobal Curated Marketplace

Airtory

Airtory, a company that specializes in the invention of interactive and immersive advertising creative, has unveiled a new marketplace named the Global Curated Marketplace, aimed at…

Marketplace
M&AAcquisition · Announced

Adcounty media acquires Adaxx Adtech & Media LLP

AdCounty Media India Limited has acquired 99.95% stake in Adaxx Adtech & Media LLP by way of Capital Contribution.

M&AAcquisition · Announced

Vertoz acquires Webimax

Vertoz, a global MadTech and CloudTech company, through its US subsidiary, Vertoz Inc has signed a definitive agreement to acquire Webimax LLC, an AI-driven marketing automation company…

AI-driven marketing automation
FundingPrivate placement

Mobavenue

Mumbai-based AI startup Mobavenue AI Tech’s board has approved plans to raise about INR 100 Cr through a preferential issue of 9.19 Lakh equity shares.

Investors Pipal Capital Management, Aman Shivraj Agro Industries, Amit Mishra, Mj Construction
AI
M&AAcquisition · Terminated

Shipping Agencies Services (SAS) acquires Moby

Italy's antitrust regulator said on Friday that Shipping Agencies Services (SAS), a unit of maritime group MSC, would drop its acquisition of a 49 per cent stake in ferry operator Moby…

Ferry operation
M&AAcquisition · Announced

Adsplay acquires Pixel Roads

Adsplay, a digital media hub, announced the acquisition of Pixel Roads — now called Pixel.

Digital Media
M&AAcquisition · Announced

Lucent Industries acquires Mobavenue

The Board of Lucent Industries at its meeting held on 02 July 2025 had considered and approved a strategic investment by way of acquisition of 100% equity shares of Mobavenue Media…

LaunchShelfRadar.ai

Punt partners

Bangalore: Punt Partners officially announced the launch of ShelfRadar.ai, an AI-powered advertising copilot built specifically to help brands optimize their ad performance on quick…

AI-powered advertising copilot
M&AAcquisition · Announced

Mckinsey acquires Et medialabs

McKinsey has acquired ET Medialabs (ETML), a performance marketing and analytics agency.

Performance marketing and analytics
M&AAcquisition · Announced

Mckinsey & company acquires Et medialabs

McKinsey & Company has announced the acquisition of ET Medialabs (ETML), a leading performance marketing and analytics agency based in India.

Performance Marketing

AdTech companies in Mumbai, by funding and team

Few adtech companies in Mumbai, Maharashtra publish revenue, so this list compares what is on record instead: recorded equity funding, team size, revenue model, age and stage. The 50 companies below lead on recorded funding and team size among 53 active companies.

Showing 25 of 50

Provider of advertising technology stacks and consumer intelligence data platforms

Mobile advertising
US$23.94mSeries C · Oct 2019
164+2% 12 mo to Jul 2024LinkedIn · Jul 2026
Subscription
16 yr2010
0none in 3 months

AI-native advertising operating system that unifies ad creation, campaign management, optimization, and automation across multiple platforms

Marketingtech
US$1.10mSeed · Apr 2026
2LinkedIn · Jul 2026
Subscription
1 yr2025
0none in 3 months

In-game advertising and marketing platform

Mobile advertising
US$789kSeed · Jan 2018
1LinkedIn · Jul 2026
Advertising / Affiliate marketing
12 yr2014
0none in 3 months

Provider of MadTech and CloudTech platforms for digital advertising solutions

Marketingtech
—None recorded
318+46% 12 mo to Feb 2024LinkedIn · Oct 2026
Advertising / Affiliate marketing
14 yr2012
9postings · last posted Sep 2026

Mobile video advertising platform

Mobile advertising
—None recorded
58+31% 12 mo to Aug 2023LinkedIn · Oct 2026
Advertising / Commission on transaction
12 yr2014
0none in 3 months

Provides AdTech, EdTech, and business ERP solutions

Higher education tech
—None recorded
123-35% 12 mo to Sep 2024LinkedIn · Jul 2026
Advertising / E-commerce - service
13 yr2013
0none in 3 months

Provides an interactive video ad platform

Adtech
—None recorded
4+0% 12 mo to Jun 2022LinkedIn · Jul 2026
Subscription
9 yr2017
—No postings tracked

Provider of ad analytics solutions

Adtech
—None recorded
22-12% 12 mo to Sep 2024LinkedIn · Jul 2026
Subscription
6 yr2020
0none in 3 months

Performance-driven ad network

Adtech
—None recorded
12recorded
Advertising / E-commerce - service
14 yr2012
—No postings tracked

Contextual Ad Network

Adtech
—None recorded
41-35% vs previous recordLinkedIn · Jul 2026
Advertising / Commission on transaction
10 yr2016
0none in 3 months

DMP providing user profile data for targeted advertising

Adtech
—None recorded
11recorded
Advertising / Affiliate marketing
11 yr2015
—No postings tracked

Online media portal offering business & finance focused news

Adtech
—None recorded
8recorded
Advertising / Affiliate marketing
12 yr2014
0none in 3 months

Digital advertising campaign management platform

Adtech
—None recorded
21-50% 12 mo to Nov 2023LinkedIn · Jul 2026
Advertising / Affiliate marketing
10 yr2016
—No postings tracked

Unified platform for analytics, customer engagement and personalized marketing

Adtech
—None recorded
5+0% 12 mo to Feb 2023LinkedIn · Jul 2026
Advertising / E-commerce - service
10 yr2016
0none in 3 months

User generated advertising platform

Adtech
—None recorded
1LinkedIn · Jul 2026
Advertising / Affiliate marketing
17 yr2009
—No postings tracked

Online affiliate network and ad network solution

Adtech
—None recorded
—Not available
Advertising / E-commerce - service
10 yr2016
0none in 3 months

Provides a cloud based location advertising platform

Adtech
—None recorded
—Not available
Advertising / Affiliate marketing
36 yr1990
0none in 3 months

Platform offering dsp solution

Adtech
—None recorded
4LinkedIn · Jul 2026
Advertising / E-commerce - service
7 yr2019
0none in 3 months

Provider of Amazon advertising platform with optimization and automation capabilities

Adtech
—None recorded
105LinkedIn · Jul 2026
Subscription
4 yr2022
1postings · last posted Aug 2026

AI powered platform focused on film making and visual content creation

Video creation tools
—None recorded
—Not available
Subscription
1 yr2025
1postings · last posted Oct 2026

Provider of a mobile application that monetizes user phone calls through ads

Adtech
—None recorded
2LinkedIn · Jul 2026
Subscription
2 yr2024
—No postings tracked

Affiliate marketing network

Adtech
—None recorded
7LinkedIn · Jul 2026
Advertising / Affiliate marketing
11 yr2015
—No postings tracked

AI-based competitors and consumer insight data solution

Marketingtech
—None recorded
—Not available
Subscription
7 yr2019
—No postings tracked

Provider of an AI platform for advertising campaign creation and management

Adtech
—None recorded
—Not available
Subscription
1 yr2025
1postings · last posted Sep 2026

Advertising and marketing platform for OEMs and browsers

Marketing services
—None recorded
—Not available
Advertising / Commission on transaction
28 yr1998
—No postings tracked
50 of 53 companies shown here · the full list is on Radar
Fliar Radar

Explore all 53 adtech companies in Mumbai on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open adtech in Mumbai on Radar
  • Every company, not just 50All 53 adtech companies in Mumbai, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
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Explore adtech companies in Mumbai by what you are looking for

Find adtech companies in Mumbai and adtech solutions providers, from ad networks to marketing technology platforms. Browse top adtech companies and adtech startups in Mumbai by type, including companies that are hiring.

6 ways to explore adtech in Mumbai

Ad networks & ad exchangesMobile & in-app advertising platformsMarketing technology & campaign platformsAdvertising data & AI platformsAdtech startups in MumbaiAdtech companies hiring in Mumbai

Ad networks & ad exchanges

Ad networks, exchanges and demand side platforms for digital advertising.

  1. Vertoz

    Provider of MadTech and CloudTech platforms for digital advertising solutions

    Marketingtech
    See in list
  2. Adsolut

    Contextual Ad Network

    Adtech
    See in list
  3. Vserv

    Provider of advertising technology stacks and consumer intelligence data platforms

    Mobile advertising
    See in list
  4. UPDATE GEOTARGET

    Provides a cloud based location advertising platform

    Adtech
    See in list
  5. Hockey Curve

    DMP providing user profile data for targeted advertising

    Adtech
    See in list

Mobile & in-app advertising platforms

Mobile advertising, video ads and location-based ad platforms.

  1. UPDATE GEOTARGET

    Provides a cloud based location advertising platform

    Adtech
    See in list
  2. Accio

    Provides an interactive video ad platform

    Adtech
    See in list
  3. mCanvas

    Mobile video advertising platform

    Mobile advertising
    See in list
  4. PLAKC

    In-game advertising and marketing platform

    Mobile advertising
    See in list
  5. Moca Tech

    Mobile-based ad serving platform

    Mobile advertising
    See in list

Marketing technology & campaign platforms

Campaign management, affiliate marketing and analytics tools; adtech and martech.

  1. ProfitWheel

    Provider of ad analytics solutions

    Adtech
    See in list
  2. TunicaLabs

    Online affiliate network and ad network solution

    Adtech
    See in list
  3. BPRISE

    Unified platform for analytics, customer engagement and personalized marketing

    Adtech
    See in list
  4. Adsnex

    AI-native advertising operating system that unifies ad creation, campaign management, optimization, and automation across multiple platforms

    Marketingtech
    See in list
  5. Ads Quotient

    AI-based competitors and consumer insight data solution

    Marketingtech
    See in list

Advertising data & AI platforms

Audience data, consumer insights and AI tools for advertising.

  1. Vserv

    Provider of advertising technology stacks and consumer intelligence data platforms

    Mobile advertising
    See in list
  2. Lemonpeel

    AI powered platform focused on film making and visual content creation

    Video creation tools
    See in list
  3. Ads Quotient

    AI-based competitors and consumer insight data solution

    Marketingtech
    See in list
  4. JuiceLabs AI

    Provider of an AI platform for advertising campaign creation and management

    Adtech
    See in list
  5. Premier

    Premier

    Adtech
    See in list

Adtech startups in Mumbai

Newer adtech companies founded in recent years.

  1. Adsnex

    AI-native advertising operating system that unifies ad creation, campaign management, optimization, and automation across multiple platforms

    Marketingtech
    See in list
  2. Lemonpeel

    AI powered platform focused on film making and visual content creation

    Video creation tools
    See in list
  3. CallPay

    Provider of a mobile application that monetizes user phone calls through ads

    Adtech
    See in list
  4. Premier

    Premier

    Adtech
    See in list
  5. TrackifyY

    Platform provides analytics and tracking solutions for Adtech

    Adtech
    Website
5 companies in Mumbai

Adtech companies hiring in Mumbai

Adtech companies in Mumbai currently hiring.

  1. Vertoz

    Provider of MadTech and CloudTech platforms for digital advertising solutions

    Marketingtech
    See in list
  2. Hector

    Provider of Amazon advertising platform with optimization and automation capabilities

    Adtech
    See in list
  3. Lemonpeel

    AI powered platform focused on film making and visual content creation

    Video creation tools
    See in list
  4. JuiceLabs AI

    Provider of an AI platform for advertising campaign creation and management

    Adtech
    See in list
  5. Rebid

    Cloud based end to end marketing technology suite

    Adtech
    See in list
7 companies in Mumbai
Mobile reach

Top 3 adtech apps from Mumbai

The most-installed Android apps published by adtech companies headquartered in Mumbai — 17K installs between them. 3 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 3
1

Bunts' Sangha RNS Vidyaniketan

by eReleGo

Installs15K
Rating—
Last updatedOct 2025
View on Google Play ↗
Bunts' Sangha RNS Vidyaniketan screenshot 1Bunts' Sangha RNS Vidyaniketan screenshot 2Bunts' Sangha RNS Vidyaniketan screenshot 3Bunts' Sangha RNS Vidyaniketan screenshot 4Bunts' Sangha RNS Vidyaniketan screenshot 5Bunts' Sangha RNS Vidyaniketan screenshot 6
2

VEVE Market for Publishers

by VEVE

Installs2K
Rating—
Last updatedOct 2023
View on Google Play ↗
VEVE Market for Publishers screenshot 1VEVE Market for Publishers screenshot 2VEVE Market for Publishers screenshot 3VEVE Market for Publishers screenshot 4VEVE Market for Publishers screenshot 5VEVE Market for Publishers screenshot 6
3

Guess the Logo: Trivia Quiz

by mCanvas

Installs823
Rating—
Last updatedAug 2024
View on Google Play ↗
Guess the Logo: Trivia Quiz screenshot 1Guess the Logo: Trivia Quiz screenshot 2Guess the Logo: Trivia Quiz screenshot 3Guess the Logo: Trivia Quiz screenshot 4Guess the Logo: Trivia Quiz screenshot 5Guess the Logo: Trivia Quiz screenshot 6
The business behind the activity

AdTech financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 8 adtech companies in Mumbai, Maharashtra for FY24-25 — 13 of the 53 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 99% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹272.89 cr

8 companies filing accounts

combined net profit₹8.95 cr

3.3% aggregate margin

are profitable62%

5 of 8 companies

median revenue~₹12.3 cr

the typical company

median revenue growth+4%

into FY24-25

earned by the top five99%

revenue concentration

Six-year view

Combined revenue of filing companies

₹102.97 crFY19-207 filers
₹93.65 crFY20-219 filers
₹162.42 crFY21-2210 filers
₹348.09 crFY22-2310 filers
₹294.50 crFY23-2410 filers
₹272.89 crFY24-258 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 8 companies over three years

-14%
FY22-23₹316.64 cr₹45.11 lakh net
FY23-24₹284.30 cr₹6.12 cr net
FY24-25₹272.89 cr₹8.95 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1100% profitable
₹1–10 cr367% profitable
₹10–100 cr333% profitable
₹100–1,000 cr1100% profitable
Over ₹1,000 cr0—

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking4
0–20%0
20–50%2
50–100%1
Doubled+1

8 companies with accounts for both years; median growth +4%.

Profitability

Profit is concentrated at the top

5profitable
3loss-making
3.3%aggregate margin
9.2%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
VertozVERTOZ LIMITED+42%₹60.95 cr
AdsolutADSOLUT MEDIA PRIVATE LIMITED+25%₹121.26 cr
VservVSERV DIGITAL SERVICES PRIVATE LIMITED-19%₹62.54 cr
UPDATE GEOTARGETUPDATE ADVERTISING AND MARKETING PRIVATE LIMITED-42%₹15.05 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
AdsolutADSOLUT MEDIA PRIVATE LIMITED10.0%₹121.26 cr
VertozVERTOZ LIMITED8.4%₹60.95 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Adtech5₹148.01 cr~₹9.6 cr60%4.3%
Leaders

Largest adtech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
AdsolutADSOLUT MEDIA PRIVATE LIMITED₹121.26 cr₹12.18 cr10.0%+25%
VservVSERV DIGITAL SERVICES PRIVATE LIMITED₹62.54 cr−₹3.62 cr-5.8%-19%
VertozVERTOZ LIMITED₹60.95 cr₹5.13 cr8.4%+42%
UPDATE GEOTARGETUPDATE ADVERTISING AND MARKETING PRIVATE LIMITED₹15.05 cr−₹4.24 cr-28.2%-42%
ProfitWheelPROFITWHEEL DATA TECHNOLOGIES PRIVATE LIMITED₹9.60 cr−₹2.25 cr-23.5%-17%
mCanvasMCANVAS ADVERTISING PRIVATE LIMITED₹1.38 cr₹1.00 cr72.6%-95%
AdzuriteADZURITE SOLUTIONS PRIVATE LIMITED
MediaQartMEDIAQART TECHNOLOGIES PRIVATE LIMITED₹84.07 lakh₹47.82 lakh56.9%+216%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

AdTech Industry Landscape of India

The financials above are one chapter. The full adtech landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the adtech landscape of Mumbai
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

AdTech funding and M&A across India

116 recorded equity rounds have gone to 738 adtech companies in India — how much, at which stage, into which sub-sectors, from whom, and how Mumbai compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months1

US$1.10m

equity rounds, last 24 months4

US$4.07m

raised over five yearsUS$241.82m

29 rounds in India

M&A deals, India7

last 24 months

Capital by year

Equity funding into adtech in India

amount rounds
$496k20183
$102m201913
$148m20207
$3.1m20216
$220m202210
$10m20233
$4.3m20246
$3.0m20253
$1.1m20261

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$220.15m across 10 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$712k3 rounds · median US$196k
SeedUS$15.92m21 rounds · median US$492k
Series AUS$10.37m2 rounds · median US$5.19m
Series CUS$14.82m2 rounds · median US$7.41m
Series D+US$200.00m1 rounds · median US$200.00m
Where the money went · five years

Most-funded sub-sectors

Vernacular platformsUS$200.00m1 rounds · 1 companies
AdtechUS$23.29m13 rounds · 10 companies
MarketingtechUS$13.37m5 rounds · 4 companies
Security & surveillance technologyUS$2.11m2 rounds · 1 companies
PaymentsUS$1.75m1 rounds · 1 companies
Generative aiUS$1.12m5 rounds · 2 companies
Mobile advertisingUS$192k2 rounds · 2 companies
Corporate activity · last 24 months

M&A in India

7Acquisition

Most active acquirers

  1. Adcounty media1
  2. Vertoz1
  3. Shipping Agencies Services (SAS)1
  4. Adsplay1
  5. Lucent Industries1

Most acquired or merged

  1. Et medialabs2
  2. Adaxx Adtech & Media LLP1
  3. Webimax1
  4. Moby1
  5. Pixel Roads1

Each deal appears in the events strip at the top of the page.

Founders and momentum in Mumbai

Meet the people behind adtech companies in Mumbai. 37 of 53 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai adtech companies by sub-sector

The most common specialisations among adtech companies in Mumbai. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring adtech in India and nearby markets.

Coming soon