Identity & access, data security, network & endpoint, fraud & compliance, secure communication and more: the companies building cybersecurity in Mumbai, Maharashtra, with their founders, funding, team size and business models.
Funding, M&A, contract wins and launches involving 1,672 cybersecurity companies in India, last 24 months: 12 funding rounds · 5 Contracts · 4 M&A deals · 1 Launch. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Apr 2026.
ContractService
Innefu Labs · client: Ministry of Electronics and IT (MeitY), Government of India
The primary objective of the exercise was price discovery, with Innefu Labs emerging as the lowest bidder (L1) for providing on-demand AI manpower at approximately Rs 40 lakh per month…
Zeron , a developer of new energy heavy trucks and autonomous driving technology, has raised RMB 1.2 billion (USD 174 million) in a new round co-led by Lochpine Capital, Momenta, and Nio…
Independent media agency JOLT has been reappointed by cybersecurity company Kaspersky to handle its media planning and buying across the Asia Pacific region.
Mantra Softech, an Indian deep-tech enterprise specializing in identity management, security systems, and computer vision, has raised USD 14 million in its first institutional funding round.
InvestorsIndia SME Fund II, Motilal Oswal Principal Investments
Adaptive Security today announced it has raised an $81 million Series B funding round led by Bain Capital Ventures, with participation from NVentures (NVIDIA's venture capital arm),…
Limerston Capital’s Xypher has acquired Aristi, a penetration testing and cybersecurity consultancy, to broaden its offensive security and risk assessment capabilities.
Mantra Softech, an Indian deep-tech company focused on identity management, security systems and computer vision, has raised USD 14 million in its first institutional investment round.
InvestorsIndia SME Fund II, Motilal Oswal Principal Investments
Seclore, a leading provider of data-centric security solutions to enterprises and governments worldwide, has announced the launch of Astra, its new artificial intelligence (AI) platform…
A $2.5 million licensing deal with Egis Technology for PC biometrics in August was the third of the year for FPC, following deals with Mantra Softech for civil identification and one…
Telecom gear maker HFCL Limited on Monday (September 1) said it has executed a share purchase agreement (SPA) to divest its entire stake in Nivetti Systems Private Limited.
Credit rating agency Icra will acquire Bengaluru-based risk and data analytics solutions company Fintellix India Private Limited for $26 million (about Rs 224 crore).
Finserv, a global provider of payments and financial services technology, has selected Finn Partners as its global agency of record, focused on brand, marketing and PR efforts under the…
Marketing/PR/Branding
Cybersecurity companies in Mumbai, by revenue
Browse cybersecurity companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 46 companies below are the largest by their most recent reported revenue among 46 cybersecurity companies in Mumbai, Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.
Showing 25 of 46
Company & businessRevenueRevenue growthHeadcount & growthAgeJobs · last 3 months
Compliance management platform for financial institutions
Every company, not just 50All 118 cybersecurity 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 cybersecurity companies in Mumbai by what you are looking for
Browse top cybersecurity companies in Mumbai, from data security and identity management to fraud prevention and compliance software. Find cybersecurity services companies and startups in Mumbai by type.
The most-installed Android apps published by cybersecurity companies headquartered in Mumbai — 23.9M installs between them. 16 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.
Revenue, profit and growth from the filed annual accounts of 32 cybersecurity companies in Mumbai, Maharashtra for FY24-25 — 47 of the 118 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 74% of the revenue, so medians describe the typical company better than totals.
combined revenue, FY24-25₹723.77 cr
32 companies filing accounts
combined net profit−₹64.13 cr
-8.9% aggregate margin
are profitable75%
24 of 32 companies
median revenue~₹7.2 cr
the typical company
median revenue growth+14%
into FY24-25
earned by the top five74%
revenue concentration
Six-year view
Combined revenue of filing companies
₹686.92 crFY19-2032 filers
₹820.25 crFY20-2137 filers
₹404.89 crFY21-2236 filers
₹572.25 crFY22-2336 filers
₹723.40 crFY23-2433 filers
₹723.77 crFY24-2532 filers
The number of companies filing changes each year; the three-year cohort below compares like with like.
Like-for-like
The same 29 companies over three years
+57%
FY22-23₹455.29 cr−₹31.05 cr net
FY23-24₹585.51 cr−₹40.64 cr net
FY24-25₹715.29 cr−₹56.48 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 cr540% profitable
₹1–10 cr1675% profitable
₹10–100 cr9100% profitable
₹100–1,000 cr250% 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
Shrinking6
0–20%12
20–50%4
50–100%3
Doubled+5
30 companies with accounts for both years; median growth +14%.
Profitability
Profit is concentrated at the top
24profitable
8loss-making
-8.9%aggregate margin
7.3%median margin
The aggregate margin is pulled up by a few large filers; the median shows the typical company.
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
Cybersecurity Industry Landscape of India
The financials above are one chapter. The full cybersecurity landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.
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
Cybersecurity funding and M&A across India
333 recorded equity rounds have gone to 1,672 cybersecurity 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 months8
US$54.43m
equity rounds, last 24 months35
US$132.22m
raised over five yearsUS$544.88m
138 rounds in India
M&A deals, India4
last 24 months
Capital by year
Equity funding into cybersecurity in India
amount rounds
$12m201816
$54m201911
$27m202031
$33m202132
$195m202230
$61m202315
$125m202427
$77m202527
$54m20267
Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$194.53m across 30 rounds.
The funding ladder · five years
Rounds and typical cheque by stage
AngelUS$6.33m19 rounds · median US$196k
SeedUS$81.21m91 rounds · median US$234k
Series AUS$111.04m12 rounds · median US$8.21m
Series BUS$60.63m5 rounds · median US$7.00m
Series CUS$107.62m2 rounds · median US$53.81m
Series D+US$178.06m9 rounds · median US$11.65m
Where the money went · five years
Most-funded sub-sectors
Insurance itUS$210.58m8 rounds · 2 companies
CybersecurityUS$149.82m80 rounds · 45 companies
Grc softwareUS$67.67m10 rounds · 5 companies
RegtechUS$61.25m11 rounds · 6 companies
Enterprise information managementUS$28.00m3 rounds · 1 companies
14 cybersecurity companies in Mumbai have recorded equity funding, US$168.41m in total. Totals and round dates describe the historical record; they are not current valuations.
Most funded
Largest recorded equity totals, with the latest recorded round.
Grc software
Provider of a platform for identity verification and risk management
Recorded equity fundingUS$62.67mSeries F · Feb 2026
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Founders and momentum in Mumbai
Meet the people behind cybersecurity companies in Mumbai. 88 of 118 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.
Fastest revenue growth
Cybersecurity companies in Mumbai with the highest one-year revenue growth among those reporting at least ₹5 crore in revenue. Growth is the reported one-year change for the period shown.
Cybersecurity
AI powered application security and threat detection platform
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Growing teams
Companies whose recorded headcount rose the most between the two most recent team-size snapshots. A larger team is a signal of momentum, not of profitability.
Cybersecurity
Provider of identity and access management solutions
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Women-founded
Cybersecurity companies in Mumbai with at least one woman on the founding team. Expand a profile to meet the founders; teams can include both women and men.
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