Radar · Energy in Mumbai
Best Energy Companies in Mumbai, India
The 397 best Energy companies in Mumbai, India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Tata Power Renewable Energy.
By Riya SenguptaFinancials
397companies tracked
$4.3Bdisclosed funding
1unicorns
42have raised
FLIAR INTELLIGENCE · ENERGY × MUMBAI
Our analysis of 50 Energy companies
$12.0b in tracked funding; 71% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
50companies analysed
71%cloud-native stacks
2025funding peak (by rounds)
2unicorns
2013median founding year
2.3Mcombined LinkedIn audience
51%of audience held by top 3
10companies hiring publicly (12 mo)
Ranked: Best Energy companies in Mumbai
| # | Company | Revenue | Disclosed funding | Employees | Founded | Founder | Recent signals |
|---|---|---|---|---|---|---|---|
| 1 | HPCL Provider of petroleum and natural gas services | $55.5B FY2025 | $500M | 7,175 7,175 → 14,763 (+106%) · sector median +66% | 1974 | Anurag Raut Co-CEO | — |
| 2 | Kalpataru Projects International Provider of engineering, procurement, and construction solutions 74Partners top 24%Market top 25%Moat top 28%Talent top 28% All 10 signals ▾Partnerstop 24% Markettop 25% Moattop 28% Talenttop 28% Fundingtop 32% Fin. healthtop 32% Newstop 41% Techtop 45% Growthbottom 49% Globalbottom 41% Partners: 2 partnership announcements in 12 mo (3 in 24 mo) · 12 contract events in 12 mo Market: Revenue ~$2.6B · ~10% of tracked Electricity Transmission & Distribution Project Developer revenue (133 cos, FY2025) rank vs industry peers · Fliar Intelligence Index 74/100 | $2.6B FY2025 | $117M | — | 1981 | Manish Mohnot CEO & Managing Director | 1 job opening · 2 awards |
| 3 | Waaree Energies 🦄 Manufacturer of solar PV modules 91Partners top 9%Market top 20%Funding top 21%Tech top 21% All 11 signals ▾Partnerstop 9% Markettop 20% Fundingtop 21% Techtop 21% Talenttop 21% Fin. healthtop 25% Growthtop 29% Moattop 30% Newstop 34% Producttop 39% Globalbottom 37% Partners: 23 contract events in 12 mo · Named contractor/client in 23 deals Market: 1,307 employees (top 11% of Energy) · Revenue ~$1.8B rank vs industry peers · Fliar Intelligence Index 91/100 | $1.8B FY2025 | $263M | 1,307 1,307 → 2,674 (+105%) · sector median +66% | 1990 | Pawan Agrawal CEO | — |
| 4 | Tata Power Renewable Energy Developer of large-scale renewable energy projects 67Market top 14%Moat top 18%Funding top 24%Partners top 26% All 10 signals ▾Markettop 14% Moattop 18% Fundingtop 24% Partnerstop 26% Fin. healthtop 29% Newstop 31% Talentbottom 49% Growthbottom 44% Globalbottom 37% Techbottom 31% Market: 2,877 employees (top 5% of Solar Energy) · Revenue ~$1.2B Moat: Top 1% by revenue among 1951 tracked Solar Energy companies · Editorial + unicorn rating 5/10 rank vs industry peers · Fliar Intelligence Index 67/100 | $1.2B FY2025 | $766M | 2,877 | 2007 | Ashwinikumar Patil CEO | — |
| 5 | Sterlite Power Developer of electricity transmission based utility projects | $820M FY2023 | $82M | 431 | 2010 | Pratik Agarwal Managing Director | — |
| 6 | Transrail Lighting Developer of electricity transmission based utility projects 69Partners top 15%Market top 28%Talent top 28%Moat top 34% All 10 signals ▾Partnerstop 15% Markettop 28% Talenttop 28% Moattop 34% Fin. healthtop 35% Fundingtop 41% Growthtop 48% Techtop 49% Newstop 50% Globalbottom 37% Partners: 12 contract events in 12 mo · Named contractor/client in 12 deals Market: 1,683 employees (top 14% of Transportation and Logistics) · Revenue ~$499M rank vs industry peers · Fliar Intelligence Index 69/100 | $499M FY2024 | $20M | 1,683 1,683 → 2,100 (+25%) · sector median +66% | 2008 | Digambar Bagde Founder | 2 awards |
| 7 | Diliigent Power Independent Thermal Power Producer | $495M FY2024 | $389M | 501 | 2010 | — | 2 awards |
| 8 | Sunil Hi Tech Engineers Provider of engineering, procurement, and construction services for power and infrastructure projects | $464M FY2018 | $129M | 848 | 1998 | — | — |
| 9 | Senvion Provider of wind operation and maintenance services | $261M FY2025 | $15M | 149 | 2015 | Amit Kansal CEO & Managing Director | 3 job openings · 1 partnership |
| 10 | Sterling And Wilson Provider of engineering, procurement, and construction services for diverse projects | $247M FY2025 | $50M | 7,502 7,502 → 5,285 (-30%) · sector median +66% | 1927 | Nishith Shah CEO | 1 job opening · 1 expansion |
| 11 | GM Modular Manufacturer of switches, home automation systems, lighting, and electrical products | $228M FY2025 | $506K | 600 | 2000 | Jayanth Jain CEO & MD | 1 job opening · 1 partnership |
| 12 | Godavari Biorefineries Manufacturer of bio-based chemicals, sugar, alcohol, biofuels, power, and related products | $223M FY2025 | $15M | 52 | 1939 | — | — |
| 13 | Standard Greases & Specialities Manufacturer of lubricating oils and greases | $220M FY2025 | $20M | 498 | 1983 | Vinod Vyas Founder & Managing Director | — |
| 14 | CleanMax Developer of solar energy projects 78Product top 14%Innovation top 20%Funding top 22%News top 23% All 12 signals ▾Producttop 14% Innovationtop 20% Fundingtop 22% Newstop 23% Markettop 34% Moattop 34% Growthtop 37% Talenttop 38% Techtop 39% Fin. healthbottom 49% Partnersbottom 46% Globalbottom 39% Product: 6 distinct product lines · Company stage: Public Innovation: 6 product lines rank vs industry peers · Fliar Intelligence Index 78/100 | $190M FY2025 | $443M | 333 | 2011 | Kuldeep Jain Co-Founder & Managing Director | 2 partnerships |
| 15 | Everest Kanto Cylinder Manufacturer of steel gas cylinders | $179M FY2025 | $20M | 1,007 | 1978 | Puneet Khurana Managing Director | — |
| 16 | KRYFS Manufacturer of single/ 3 Phase transformers | $172M FY2025 | $23M | 565 565 → 434 (-23%) · sector median +66% | 1993 | Saifuddin Qureishi Founder & Managing Director & CEO | — |
| 17 | Continuum Wind Energy Independent power producer specializing in the development and operation of large-scale renewable energy… 50Funding top 34%Fin. health top 35%Product top 42%Moat top 48% All 10 signals ▾Fundingtop 34% Fin. healthtop 35% Producttop 42% Moattop 48% Markettop 50% Talentbottom 49% Growthbottom 47% Techbottom 43% Globalbottom 43% Newsbottom 28% Funding: Raised $150M across 3 rounds · 3 rounds over 4 yrs (0.8/yr) Fin. health: Revenue ~$167M (FY2023) · Net margin 12.6% rank vs industry peers · Fliar Intelligence Index 50/100 | $167M FY2024 | $150M | 180 | 2009 | Arvind Bansal CEO | — |
| 18 | Stelmec Manufacturers of Low, Medium Voltage Switchgear and other value added power product | $124M FY2025 | $979K | 205 | 1984 | Hamza Arsiwala CEO & Managing Director | — |
| 19 | IAV Provider of oil & gas midstream services | $78M FY2025 | $19M | 391 | 1959 | — | — |
| 20 | Oilmax Energy Integrated oil and gas company focused on exploration, production, and EPC | $70M FY2025 | $38M | 94 94 → 129 (+37%) · sector median +66% | 2008 | Ritu Garg Co-Founder & Director | — |
| 21 | Aditya Birla Renewables Leading industry player in clean energy solutions with a decade of experience in executing large-scale and… 72Growth top 20%Funding top 25%News top 25%Moat top 31% All 10 signals ▾Growthtop 20% Fundingtop 25% Newstop 25% Moattop 31% Markettop 42% Fin. healthtop 43% Partnerstop 47% Talentbottom 49% Techbottom 37% Globalbottom 37% Growth: Headcount 66 → 222 (+236%) across vintages · Revenue +47% YoY Funding: Raised $334M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) rank vs industry peers · Fliar Intelligence Index 72/100 | $69M FY2025 | $334M | 222 222 → 494 (+123%) · sector median +66% | 2011 | Amit Jain CEO | 1 job opening · 1 award |
| 22 | Radiance Renewables Provider of open access and behind-the-meter solar energy solutions 57News top 25%Funding top 27%Growth top 32%Moat top 36% All 9 signals ▾Newstop 25% Fundingtop 27% Growthtop 32% Moattop 36% Fin. healthtop 37% Talenttop 38% Markettop 49% Globalbottom 37% Techbottom 29% News: 7 BI events in 12 mo (of 22 tracked, 5 types) · +133% YoY Funding: Raised $100M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) rank vs industry peers · Fliar Intelligence Index 57/100 | $68M FY2025 | $100M | 106 106 → 153 (+44%) · sector median +66% | 2018 | Nitin Bhatia CEO | 2 partnerships · 1 award |
| 23 | SolarSquare Chains providing rooftop solar energy systems for residential and commercial properties 76Tech top 20%Growth top 26%Talent top 28%Funding top 35% All 10 signals ▾Techtop 20% Growthtop 26% Talenttop 28% Fundingtop 35% Moattop 36% Markettop 39% Producttop 40% Fin. healthtop 50% Globalbottom 39% Newsbottom 21% Tech: 80 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 Growth: Headcount 226 → 726 (+221%) across vintages · Revenue +105% YoY rank vs industry peers · Fliar Intelligence Index 76/100 | $43M FY2025 | $21M | 726 | 2015 | Shreya Mishra Co-Founder | 1 job opening |
| 24 | Oriano Developer of solar energy projects | $36M FY2025 | $4M | 198 198 → 328 (+66%) · sector median +66% | 2015 | Lokendra Rajput Co-Founder & CEO | — |
| 25 | Satec Company specializing in engineering and infrastructure solutions | $28M FY2025 | $7M | 750 | 2004 | AmarPrakash Agarwal Founder & Managing Director | — |
| 26 | CORE Energy Systems Provider of engineered package systems and turnkey project solutions 60Growth top 25%News top 28%Fin. health top 28%Talent top 33% All 9 signals ▾Growthtop 25% Newstop 28% Fin. healthtop 28% Talenttop 33% Moattop 37% Markettop 44% Fundingtop 46% Globalbottom 37% Techbottom 18% Growth: Revenue +95% YoY · Web rank 5,000,000 → 10,000,000 YoY News: 6 BI events in 12 mo (of 6 tracked, 2 types) · 2 high-value events (IPO/M&A/funding/contracts) in 12 mo rank vs industry peers · Fliar Intelligence Index 60/100 | $27M FY2025 | $4M | — | 2000 | Kumar Pranay CEO | — |
| 27 | NuPower Renewables Provider of independent power generation services | $21M FY2025 | $92M | 25 | 2008 | Mahesh Punglia Co-Founder | — |
| 28 | Roofsol Energy Provides solar plant installations, providing engineering, procurement, and construction services 45Talent top 38%Moat top 39%Growth top 40%Funding top 49% All 9 signals ▾Talenttop 38% Moattop 39% Growthtop 40% Fundingtop 49% Fin. healthbottom 47% Marketbottom 45% Techbottom 43% Globalbottom 37% Newsbottom 18% Talent: 2 named leaders on record · 2 C-suite/founder profiles curated Moat: Top 11% by revenue among 1951 tracked Solar Energy companies · Editorial + unicorn rating 1/10 rank vs industry peers · Fliar Intelligence Index 45/100 | $21M FY2025 | $3M | 75 | 2016 | Dipankar Pal Co-Founder & Managing Director | 2 partnerships |
| 29 | Oorjan Solar project financing and development | $14M FY2025 | $655K | 62 62 → 128 (+106%) · sector median +66% | 2014 | Gautam Das Co-Founder | 1 job opening |
| 30 | Ofi India Manufacturer of mud logging, gas detection, and rig instruments | $12M FY2025 | $11M | 750 | 1992 | — | — |
| 31 | Punjab Renewable Energy Systems Provider of biomass aggregation and supply chain management services | $11M FY2025 | $19M | 114 | 2011 | Sumeet Malhan CEO | — |
| 32 | DefSpace Platform offering a one-stop digital marketplace for defence, space, and aerospace sectors | $10M FY2025 | $478K | — | 2020 | Anushka Shah Co-Founder | — |
| 33 | Dolphin Offshore Provider of underwater services and turnkey EPC projects for the oil and gas industry | $9M FY2025 | $15M | 256 | 1979 | Satpal Singh CEO & MD | — |
| 34 | Alfa Infraprop Developer of solar and wind energy projects | $8M FY2025 | $33M | — | 2008 | Sudhir Valia Co-Founder | — |
| 35 | Ushdev Power IPP in wind sector | $7M FY2024 | $9M | — | 2010 | Arvind Prasad Founder & MD | — |
| 36 | Kiran Energy Develops and operates solar farms | $5M FY2025 | $44M | 28 | 2010 | — | — |
| 37 | Metafin Provider of solar financing platform 57Growth top 17%Funding top 37%Fin. health top 43%Moat top 45% All 8 signals ▾Growthtop 17% Fundingtop 37% Fin. healthtop 43% Moattop 45% Techtop 47% Newstop 47% Globalbottom 39% Marketbottom 37% Growth: Headcount 34 → 83 (+144%) across vintages · Revenue +255% YoY Funding: Raised $7.0M across 5 rounds · 5 rounds over 3 yrs (1.7/yr) rank vs industry peers · Fliar Intelligence Index 57/100 | $2M FY2025 | $7M | 83 | 2018 | — | — |
| 38 | Artha Energy Resources Platform for mapping renewable energy generation assets 48Talent top 28%Innovation top 34%Growth top 36%Product top 36% All 10 signals ▾Talenttop 28% Innovationtop 34% Growthtop 36% Producttop 36% Moattop 37% Fundingbottom 49% Techbottom 41% Marketbottom 40% Fin. healthbottom 40% Globalbottom 32% Talent: 4 named leaders on record · 4 C-suite/founder profiles curated Innovation: 5 product lines rank vs industry peers · Fliar Intelligence Index 48/100 | $887K FY2025 | $11M | 42 | 2013 | Animesh Damani Founder & CEO | — |
| 39 | Kshumat Energy Provider of eco friendly energy solutions including solar panel installation projects and natural base oil… | $589K FY2025 | $527K | — | 2017 | Reema Versey Co-Founder & Director | — |
| 40 | kWatt Solutions Solar products | $477K FY2025 | $553K | 6 | 2013 | — | — |
| 41 | Coulomb Litech Designer and manufacturer of battery solutions for electric vehicles and stationary energy storage 37Growth top 23%Talent top 38%Tech top 46%Funding bottom 48% All 8 signals ▾Growthtop 23% Talenttop 38% Techtop 46% Fundingbottom 48% Fin. healthbottom 38% Moatbottom 34% Globalbottom 32% Marketbottom 22% Growth: Revenue +127% YoY · Fresh capital in last 24 mo Talent: 2 named leaders on record · 2 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 37/100 | $469K FY2025 | $3M | — | 2020 | Ameya Sathe Co-Founder & CEO | — |
| 42 | Devidayal Solar Solutions Manufacturer of solar powered products | $421K FY2025 | $173K | 11 11 → 23 (+109%) · sector median +66% | 2015 | — | 1 job opening |
| 43 | Epic Energy Manufacturer and supplier of renewable energy and energy efficiency products | $373K FY2024 | $10M | 5 | 1991 | V Chandrasekhar CEO & Director | — |
| 44 | Longman Suntech Energy Installs and lease out solar solutions | $35K FY2022 | $264K | 11 | 2012 | Sujith Thannikkatt Co-Founder | — |
| 45 | Green India Building Systems and Services Geo-thermal cooling | $28K FY2019 | $403K | 2 | 2010 | — | — |
| 46 | Voltrez Tech Provider of lithium ion energy services | $981 FY2025 | $406K | — | 2018 | Sunil Mehta Co-Founder & CEO | — |
| 47 | Apraava Provider of integrated energy solutions 62Growth top 27%News top 27%Funding top 30%Fin. health top 35% All 9 signals ▾Growthtop 27% Newstop 27% Fundingtop 30% Fin. healthtop 35% Moattop 35% Markettop 41% Partnersbottom 41% Globalbottom 37% Techbottom 25% Growth: Headcount 149 → 182 (+22%) across vintages · Fresh capital in last 24 mo News: 7 BI events in 12 mo (of 23 tracked, 5 types) · +250% YoY rank vs industry peers · Fliar Intelligence Index 62/100 | — | $451M | 182 | 2000 | — | — |
| 48 | Virescent Renewable Energy Trust Developer of solar energy projects | — | $62M | 16 | 2020 | — | — |
| 49 | Columbia Petro Chem Manufacturer of petrochemicals and paraffin oils 35Moat top 25%Fin. health top 38%Talent top 38%Market top 43% All 8 signals ▾Moattop 25% Fin. healthtop 38% Talenttop 38% Markettop 43% Fundingbottom 46% Growthbottom 35% Globalbottom 30% Techbottom 17% Moat: Top 3% by revenue among 71 tracked Petrochemicals companies · Editorial + unicorn rating 3/10 Fin. health: Revenue ~$160M (FY2021) · Net margin 1.4% rank vs industry peers · Fliar Intelligence Index 35/100 | — | $7M | — | 1995 | Madan Halwasiya Founder | — |
| 50 | Flareum Technologies Solar thermal technology developer | — | $8M | 100 | 1998 | Badal Shah Founder & CEO | — |
Top 12 Energy companies in Mumbai
#1
Acquired · Mumbai, Maharashtra · founded 2009 · 180 employees$149.7Mraised▾
Acquired · Mumbai, Maharashtra · founded 2009 · 180 employees
Independent power producer specializing in the development and operation of large-scale renewable energy projects. It is focused on focused on the generation and supply of renewable energy, including wind, solar, and hybrid power. The company is recognized for its grid-connected green energy projects. Their mission is to supply clean green power.
Fliar Intelligence Index™ 50how this company ranks against its industry peers
Funding
top 34%Fin. health
top 35%Product
top 42%Moat
top 48%Market
top 50%Talent
bottom 49%Funding: Raised $150M across 3 rounds · 3 rounds over 4 yrs (0.8/yr) · Last round Series D (Mar 2026)
Fin. health: Revenue ~$167M (FY2023) · Net margin 12.6% · Revenue 1.1x total funding
Product: 1 published app (48 installs) · Company stage: Acquired
Funding rounds
- Mar 2026Series D$67.5M
- Aug 2024Series D$150M
- Jul 2022Conventional Debt$350M
Founders & team
Investors
Just Climate
Tech stack
Apache Http ServerBootstrapCdnjsCloudflareFancyboxFont Awesome
#2
Late Stage · Mumbai, Maharashtra · founded 2000 · 182 employees$451Mraised▾
Late Stage · Mumbai, Maharashtra · founded 2000 · 182 employees
Provider of integrated energy solutions. It offering a diversified portfolio of low-carbon power generation, interstate power transmission, and smart meter deployment. The company delivers end-to-end project development services across renewable energy, grid infrastructure, and advanced metering. It focuses on scaling clean energy capacity, strengthening transmission networks, and enabling intelligent power management.
Fliar Intelligence Index™ 62how this company ranks against its industry peers
Growth
top 27%News
top 27%Funding
top 30%Fin. health
top 35%Moat
top 35%Market
top 41%Growth: Headcount 149 → 182 (+22%) across vintages · Fresh capital in last 24 mo
News: 7 BI events in 12 mo (of 23 tracked, 5 types) · +250% YoY · 2 high-value events (IPO/M&A/funding/contracts) in 12 mo
Funding: Raised $451M across 2 rounds · 2 rounds over 8 yrs (0.2/yr) · Last round Conventional Debt (Dec 2025)
Audience (LinkedIn): 56k LinkedIn followers — 2.4% of this cohort's audience · 163 engagements/post (1.7× cohort median)
Funding rounds
- Dec 2025Conventional Debt$92M
- Sep 2018Unattributed$368M
Investors
CDPQ, British International Investment, Standard Chartered, CLP, Pareto
Tech stack
BootstrapGodaddyGoogle Tag ManagerGsapJqueryKentico Cms
#3
Late Stage · Mumbai, Maharashtra · founded 2011 · 222 employees$333.6Mraised▾
Late Stage · Mumbai, Maharashtra · founded 2011 · 222 employees
Aditya Birla Renewables is a leader in providing clean energy solutions, focusing on solar, wind, and hybrid power solutions for public and private sector customers. As a part of the Aditya Birla Group, the company boasts a 2 GWp portfolio of renewable energy projects.
Fliar Intelligence Index™ 72how this company ranks against its industry peers
Growth
top 20%Funding
top 25%News
top 25%Moat
top 31%Market
top 42%Fin. health
top 43%Growth: Headcount 66 → 222 (+236%) across vintages · Revenue +47% YoY · Web rank 5,000,000 → 10,000,000 YoY
Funding: Raised $334M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) · Last round PE (Dec 2025)
News: 7 BI events in 12 mo (of 13 tracked, 6 types) · +250% YoY · 7 high-value events (IPO/M&A/funding/contracts) in 12 mo
Audience (LinkedIn): 124k LinkedIn followers — 5.4% of this cohort's audience
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: Careers
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
- Dec 2025PE$333.6M
Founders & team
Investors
Global Infrastructure Partners
Tech stack
Animate.CssBootstrapCdnjsCloudflareFont AwesomeGoogle Analytics
#4
Public · Mumbai, Maharashtra · founded 1990 · 1307 employees$262.8Mraised▾
Public · Mumbai, Maharashtra · founded 1990 · 1307 employees
Manufacturer of solar PV modules. It offers mono, poly, bifacial, and flexible types PV modules, and provides comprehensive services such as solar rooftop and ground-mounted power plant installations, floating solar systems, solar water pumps, solar street lighting, energy storage, green hydrogen projects, operations and maintenance, and turnkey solar EPC.
Fliar Intelligence Index™ 91how this company ranks against its industry peers
Partners
top 9%Market
top 20%Funding
top 21%Tech
top 21%Talent
top 21%Fin. health
top 25%Partners: 23 contract events in 12 mo · Named contractor/client in 23 deals · Marquee-customer mentions: top 9% of tracked companies
Market: 1,307 employees (top 11% of Energy) · Revenue ~$1.8B · ~4% of tracked Solar Energy revenue (1951 cos, FY2025)
Funding: Raised $263M across 5 rounds · 5 rounds over 12 yrs (0.4/yr) · Last round Post IPO (Oct 2025)
Audience (LinkedIn): 266k LinkedIn followers — 11.6% of this cohort's audience
Funding rounds
- Oct 2025Post IPO$113.1M
- Sep 2022Series B$245.2M
- Dec 2017Unattributed$15.6M
- Dec 2014Unattributed$177.4K
Founders & team
Investors
Centrum, Founder Collective, Quest Portfolio Services, Cybage, Ohm Enterprise, Chandurkar Investments
Tech stack
Apache Http ServerApexcharts.JsApple Icloud MailAxiosBigcommerceBootstrap
#5
Series C · Mumbai, Maharashtra · founded 2018 · 106 employees$100Mraised▾
Series C · Mumbai, Maharashtra · founded 2018 · 106 employees
Provider of open access and behind-the-meter solar energy solutions. The company develops and implements renewable energy projects, focusing on both open access solutions for larger-scale power generation and behind-the-meter solutions tailored to individual customer needs. It offer a complete suite of services to support the energy transition, from project development and financing to ongoing maintenance and support. The company's expertise lies in designing and delivering customized renewable energy systems that meet specific sustainability requirements.
Fliar Intelligence Index™ 57how this company ranks against its industry peers
News
top 25%Funding
top 27%Growth
top 32%Moat
top 36%Fin. health
top 37%Talent
top 38%News: 7 BI events in 12 mo (of 22 tracked, 5 types) · +133% YoY · 4 high-value events (IPO/M&A/funding/contracts) in 12 mo
Funding: Raised $100M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) · Last round Series C (Feb 2026)
Growth: Headcount 98 → 106 (+8%) across vintages · Revenue +35% YoY · Web rank 50,000,000 → 10,000,000 YoY
Audience (LinkedIn): 20k LinkedIn followers
Activity (LinkedIn): 2 partnerships · 1 awards (incl. The Private Infrastructure Development Group (PIDG)) announced in 12 mo
Funding rounds
- Feb 2026Series C$100M
Founders & team
Investors
Impact Fund Denmark, FMO, EverSource Capital
Tech stack
Animate.CssApache Http ServerContact Form 7GodaddyGoogle Font ApiHsts
#6
Public · Mumbai, Maharashtra · founded 2011 · 333 employees$442.7Mraised▾
Public · Mumbai, Maharashtra · founded 2011 · 333 employees
Developer of solar energy projects. The comapny specializes in providing comprehensive renewable energy solutions primarily for commercial and industrial clients. The main services offered include on-site rooftop solar power solutions, off-site solar power, wind & wind-solar hybrid farms, energy storage solutions, renewable energy certificates & carbon projects, turnkey project development, and customized sustainability solutions. It majorly serves to Data Centres, Textiles, Automotive, Chemicals, Pharma, FMCG industries.
Fliar Intelligence Index™ 78how this company ranks against its industry peers
Product
top 14%Innovation
top 20%Funding
top 22%News
top 23%Market
top 34%Moat
top 34%Product: 6 distinct product lines · Company stage: Public
Innovation: 6 product lines
Funding: Raised $443M across 26 rounds · 26 rounds over 15 yrs (1.7/yr) · Last round Series F (Apr 2025)
Audience (LinkedIn): 75k LinkedIn followers — 3.3% of this cohort's audience
Activity (LinkedIn): 2 partnerships (incl. Meta) announced in 12 mo
Funding rounds
- Apr 2025Series F$1.7M
- Jun 2024Series F$47.9M
- Feb 2024Series F$12.1M
- Dec 2023Series F—
Founders & team
Investors
Bessemer Venture Partners, Green Investment Group, Warburg Pincus, IFC, Oliphans Capital, VAMM Ventures
Tech stack
Amazon S3Amazon Web ServicesBootstrapCloudflareCrazy EggFont Awesome
#7
Series A · Mumbai, Maharashtra · founded 2018 · 83 employees$7Mraised▾
Series A · Mumbai, Maharashtra · founded 2018 · 83 employees
Metafin is a solar financing platform for retail customers and residential properties.Customers can consult metafin partners, they can switch to solar installation after the review and approval.Customers include hospitals, housing societies, schools, petrol stations, hotels, sports academies etc.
Fliar Intelligence Index™ 57how this company ranks against its industry peers
Growth
top 17%Funding
top 37%Fin. health
top 43%Moat
top 45%Tech
top 47%News
top 47%Growth: Headcount 34 → 83 (+144%) across vintages · Revenue +255% YoY · Fresh capital in last 24 mo
Funding: Raised $7.0M across 5 rounds · 5 rounds over 3 yrs (1.7/yr) · Last round Conventional Debt (Mar 2026)
Fin. health: Revenue ~$1.7M (FY2021) · Net margin 3.8% · Revenue +255% YoY
Funding rounds
- Mar 2026Conventional Debt$10M
- Apr 2025Conventional Debt—
- Apr 2025Series A$10M
- Jun 2024Venture Debt—
Investors
Innoven Capital, Prime Venture Partners, Alteria Capital, Four Sb, Varanium, Venture Catalysts
Tech stack
Amazon Web ServicesBootstrapGoogle AnalyticsGoogle CloudGoogle Cloud CdnGoogle Workspace
#8
Series B · Mumbai, Maharashtra · founded 2016 · 75 employees$3Mraised▾
Series B · Mumbai, Maharashtra · founded 2016 · 75 employees
It is a leading EPC player in on-site solar plant installations. The company was established in 2016 and is headquartered in Mumbai. They specialize in engineering, procurement, and construction of solar power plants using both CAPEX and OPEX models.
Fliar Intelligence Index™ 45how this company ranks against its industry peers
Talent
top 38%Moat
top 39%Growth
top 40%Funding
top 49%Fin. health
bottom 47%Market
bottom 45%Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
Moat: Top 11% by revenue among 1951 tracked Solar Energy companies · Editorial + unicorn rating 1/10 · 9 curated direct competitors tracked
Growth: Revenue +15% YoY · Fresh capital in last 24 mo
Audience (LinkedIn): 61k LinkedIn followers — 2.7% of this cohort's audience
Activity (LinkedIn): 2 partnerships (incl. Noble Tech Industries Private Limited) announced in 12 mo
Funding rounds
- Apr 2026Series B$35.6M
- May 2025Series B$25M
- Oct 2024Series A$3M
- Aug 2024Angel—
Founders & team
Investors
Dhoot Industrial Finance, IH Consultancy Services, Kbg Capital, Shree Shyam Investments, Tesoroinventure, Minashish Investment
Tech stack
BootstrapCdnjsCloudflareFancyboxGoogle AnalyticsGoogle Workspace
#9
Seed · Mumbai, Maharashtra · founded 2020$2.9Mraised▾
Seed · Mumbai, Maharashtra · founded 2020
Designer and manufacturer of battery solutions for electric vehicles and stationary energy storage. It offer end-to-end integrated solutions, encompassing research and development, design, manufacturing, and technology. The batteries utilize EV-grade cells from tier-1 manufacturers and undergo rigorous quality control checks. The company also develops its own battery management systems and chargers, managing safety, performance, and efficiency. An analytics platform provides data-driven insights into battery utilization.
Fliar Intelligence Index™ 37how this company ranks against its industry peers
Growth
top 23%Talent
top 38%Tech
top 46%Funding
bottom 48%Fin. health
bottom 38%Moat
bottom 34%Growth: Revenue +127% YoY · Fresh capital in last 24 mo
Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
Tech: 20 technologies across 4/8 capability areas · Cloud: Cloudflare, Google Cloud · Observability: Sentry
Audience (LinkedIn): 9k LinkedIn followers
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: Manufacturing Head
Funding rounds
- Feb 2026Seed$2.2M
- Mar 2025Seed$221.5K
- Jan 2024Seed$426.9K
Founders & team
Investors
Banyan Tree Facilities, Helios Holdings, Anikarth Ventures, VVAG Partners, Techmobia, Stpinext
Tech stack
CloudflareGoogle Font ApiGoogle WorkspaceHstsHttp/3Open Graph
#10
Acquired · Mumbai, Maharashtra · founded 1981$117.5Mraised▾
Acquired · Mumbai, Maharashtra · founded 1981
Provider of engineering, procurement, and construction solutions. It is primarily engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility, Highways and Airports.
Fliar Intelligence Index™ 74how this company ranks against its industry peers
Partners
top 24%Market
top 25%Moat
top 28%Talent
top 28%Funding
top 32%Fin. health
top 32%Partners: 2 partnership announcements in 12 mo (3 in 24 mo) · 12 contract events in 12 mo · Named contractor/client in 12 deals
Market: Revenue ~$2.6B · ~10% of tracked Electricity Transmission & Distribution Project Developer revenue (133 cos, FY2025) · Top-1,000,000 web property
Moat: Top 1% by revenue among 133 tracked Electricity Transmission & Distribution Project Developer companies · Editorial + unicorn rating 1/10
Audience (LinkedIn): 465k LinkedIn followers — 20.2% of this cohort's audience · 585 engagements/post (6.0× cohort median)
Hiring (LinkedIn): 1 hiring post in 12 mo (public)
Activity (LinkedIn): 2 awards announced in 12 mo
Funding rounds
- Dec 2024Post IPO$117.5M
- 2007Post IPO—
Founders & team
Investors
ICICI Venture
Tech stack
AosApache Http ServerBootstrapGoogle AnalyticsGoogle Tag ManagerHsts
#11
Series B · Mumbai, Maharashtra · founded 2000$4.2Mraised▾
Series B · Mumbai, Maharashtra · founded 2000
Provider of engineered package systems and turnkey project solutions. It offers a range of services, include operations and maintenance, shutdown maintenance, erection and commissioning, and equipment overhauls. Its entity offers turnkey project execution across various sectors, including nuclear, oil and gas, defense, and industrial applications. The company also supplies industrial products and engineered package systems.
Fliar Intelligence Index™ 60how this company ranks against its industry peers
Growth
top 25%News
top 28%Fin. health
top 28%Talent
top 33%Moat
top 37%Market
top 44%Growth: Revenue +95% YoY · Web rank 5,000,000 → 10,000,000 YoY · Fresh capital in last 24 mo
News: 6 BI events in 12 mo (of 6 tracked, 2 types) · 2 high-value events (IPO/M&A/funding/contracts) in 12 mo · Top themes: Announcements, Funding
Fin. health: Revenue ~$26.6M (FY2022) · Net margin 9.4% · Revenue +95% YoY
Audience (LinkedIn): 8k LinkedIn followers
Funding rounds
- Aug 2025Series B—
- Sep 2024Series B$23.7M
- Feb 2022Series A$4.2M
- Jan 2021Angel$315.2K
Founders & team
Investors
IDBI Capital Markets & Securities Ltd, Cosmos Prime Group, Aamara Capital, Av Fincorp, Lucky Investment Managers, Maharashtra Defence and Aerospace Venture Fund
Tech stack
BootstrapFont AwesomeGodaddyIisJqueryMicrosoft 365
#12
Series B · Mumbai, Maharashtra · founded 2015 · 726 employees$20.9Mraised▾
Series B · Mumbai, Maharashtra · founded 2015 · 726 employees
Chains providing rooftop solar energy systems for residential and commercial properties. These systems convert sunlight into electricity through photovoltaic panels and inverters. The service includes site assessment, system design, installation, and ongoing maintenance to ensure operational efficiency. The process involves mounting solar panels on rooftops to generate power for daily consumption, reducing reliance on traditional electricity grids. The company manages the entire lifecycle of the solar installation, from initial planning and structural evaluation.
Fliar Intelligence Index™ 76how this company ranks against its industry peers
Tech
top 20%Growth
top 26%Talent
top 28%Funding
top 35%Moat
top 36%Market
top 39%Tech: 80 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 · Devops: Nginx
Growth: Headcount 226 → 726 (+221%) across vintages · Revenue +105% YoY · Web rank 500,000 → 100,000 YoY
Talent: 3 named leaders on record · 3 C-suite/founder profiles curated
Audience (LinkedIn): 249k LinkedIn followers — 10.8% of this cohort's audience
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: Project Coordinator, Installation Champion
Funding rounds
- Dec 2024Series B$40M
- Oct 2023Series A$4.5M
- Jul 2022Series A$12.5M
- Sep 2021Seed$4M
Founders & team
Investors
Gruhas, Lowercarbon Capital, Good Capital, Climate Angels, Rainmatter, Elevation Capital
Tech stack
Amazon CloudfrontAmazon S3Amazon Web ServicesApexcharts.JsAxiosBootstrap
Funding & investor landscape
$4.3Btotal disclosed funding
54companies funded
126disclosed rounds
3rounds last 90 days
Most active investors
Bessemer Venture Partners3 rounds
Goldman Sachs3 rounds
Notable founders
Arvind Bansal
CEO · Continuum Wind Energy
Amit Jain
CEO · Aditya Birla Renewables
Manmohan Sharma
CFO · Waaree Energies
Pawan Agrawal
CEO · Waaree Energies
Nitin Bhatia
CEO · Radiance Renewables
Manikkan Sangameswaran
Executive Director & CEO · Radiance Renewables
Kuldeep Jain
Co-Founder & Managing Director · CleanMax
Pramod Deore
CEO · CleanMax
Dipankar Pal
Co-Founder & Managing Director · Roofsol Energy
Raja Kalla
Co-Founder & CEO · Roofsol Energy
Ameya Sathe
Co-Founder & CEO · Coulomb Litech
Darshil Dharod
Co-Founder · Coulomb Litech
Prism market signals · India · country-scoped Prism corpus, 5,686,465 docs
Market landscape — 10 sub-themes by coverage
Share of Energy coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH IN MUMBAI · Energy
How research on Energy Storage in Mumbai is moving
A read on the academic research around Energy Storage in Mumbai — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 140 papers.
IIT Bombay, HOMI Bhabha, and BARC lead Mumbai's optimistically-toned energy storage research, focusing dominantly on advanced battery materials and supercapacitors, with surging recent output.
140 papers · stance +0.57 · 33% breakthrough · 7% concern
top institutions
- Indian Institute of Technology Bombay57
- Homi Bhabha National Institute35
- Bhabha Atomic Research Centre25
- Korea Research Institute of Chemical Technology16
- Institute of Chemical Technology10
leading researchers
Sudip Barman · Harishchandra S. Nishad · Prajnashree Panda · Rajib Samanta · Suryanarayana Doolla · Venkatasailanathan Ramadesigan
prism intelligence · tone & topics
96% positive · 1% critical tone
BusinessMaterials ScienceElectronicsAutomotiveEnvironmentTransportation
▲
Breakthroughs42 · 30%
▲ 29%→31% share
▲1.1× share momentum0 median citations95% since 2021mostly methods-led
Supercapacitor breakthrough research is surging — papers jumped from 1 to 17, with Capacitance newly emerging at 13 papers.
rising sub-themes (early→recent)
- Supercapacitor1→17
- Graphene1→4
Newly emergingCapacitance 0→13 · Electrolyte 0→9 · Battery (electricity) 0→6
Landmark Highly Active 2D Layered MoS 2 -rGO Hybrids for Energy Conversion and Storage Applications · 185 cites
◆
Advancements77 · 55%
▼ 57%→54% share
▼0.9× share momentum1 median citations91% since 2021mostly methods-led
Electrode advancement research intensified — papers rose from 1 to 11, alongside newly emerging Graphene and Electrochemistry at 9 each.
rising sub-themes (early→recent)
- Supercapacitor1→12
- Electrode1→11
- Renewable energy2→7
- Electrical engineering1→6
- Nanotechnology1→6
Newly emergingBattery (electricity) 0→10 · Graphene 0→9 · Electrochemistry 0→9
Landmark Multiagent-Based Distributed-Energy-Resource Management for Intelligent Microgrids · 394 cites
▼
Concerns9 · 6%
▲ 0%→7% share
5 median citations100% since 2021mostly reviews
Supercapacitor and Battery concerns are newly emerging — field-share rose from 0% to 7% across 140 papers.
rising sub-themes (early→recent)
- Supercapacitor4
- Battery (electricity)3
- Electricity2
- Renewable energy2
- Electricity generation1
Newly emergingSupercapacitor 0→4 · Battery (electricity) 0→3
Landmark Comprehensive Review on Bimetallic (Ni and Co)-Chalcogenides and Phosphides with Three-Dimensional Architecture for Hybr · 37 cites
PATENT MOMENTUM · Mumbai
Who's building energy storage IP in Mumbai
Tata Passenger Electric Mobility dominates Mumbai's energy-storage patents with 6 of 7 filings, and activity is clearly rising, accelerating from 1 patent in 2024 to 3 in early 2025.
7 patents2 companiespeak 3/yr100% electric (recent)
filing momentum (YoY)
tech mix (2014-19 → 2020-25)
electric / battery0→4 ▲
ADAS / autonomous0→0
ICE powertrain0→0
chassis / safety0→0
top patenters
- Tata Passenger Electric Mobility6Mumbai
- Tata Motors1Mumbai
Common questions
How many Energy companies are there in Mumbai, India?
Radar tracks 397 indexable Energy companies headquartered in Mumbai, India, India, that meet our profile-completeness bar.
What is the total funding raised by Energy companies in Mumbai, India?
The Energy companies in Mumbai, India on this list have raised a combined $4.3B in disclosed equity funding across 54 funded companies.
Which is the highest-funded Energy company in Mumbai, India?
Tata Power Renewable Energy is the highest-funded Energy company in Mumbai, India, with $766.2M in disclosed equity funding.
How many Energy companies in Mumbai, India are funded?
54 of the 397 Energy companies in Mumbai, India on this list have disclosed at least one equity funding round.
How many Energy unicorns are there in Mumbai, India?
1 Energy company in Mumbai, India on this list is valued at $1B or more.
Who are the top investors in Mumbai, India Energy companies?
The most active investors in Mumbai, India Energy companies on this list include SINE, Kitara Capital, Bessemer Venture Partners, Central Bank of India, Goldman Sachs.
Riya SenguptaFinancials
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.