Radar · Energy in Vadodara
Best Energy Companies in Vadodara, India
The 64 best Energy companies in Vadodara, India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: INOXCVA.
By Riya SenguptaFinancials
64companies tracked
$95.6Mdisclosed funding
0unicorns
4have raised
FLIAR INTELLIGENCE · ENERGY × VADODARA
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
191kcombined LinkedIn audience
65%of audience held by top 3
6companies hiring publicly (12 mo)
Ranked: Best Energy companies in Vadodara
| # | Company | Disclosed funding | Revenue | Revenue YoY | Employees | Founded | Founder | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Schneider Electric Infrastructure Manufacturer of switchgears and transformers | — | $315M FY2025 | +20% | 1,340 | 2011 | Bruno Dercle CEO | — |
| 2 | INOXCVA Manufacturer of standard & engineered cryogenic equipment | $84M | $159M FY2025 | +16% | 1,081 | 1992 | P Kulkarni Founder | — |
| 3 | Associated Power Structures Company specializing in conceptualization, fabrication and EPC contracting of various types of galvanized… | — | $145M FY2025 | +95% | — | 1996 | Satish Desai Co-Founder | 1 award |
| 4 | Diamond Power Infrastructure Diamond Power Infrastructure is a transmission equipment manufacturer.Diamond power is vadodara based company… | — | $132M FY2025 | +224% | 500 | 1971 | — | — |
| 5 | lnox Wind Energy Provider of renewable energy production services | — | $106M FY2022 | -7% | 2 | 2020 | — | — |
| 6 | Madhav Corp Provider of rooftop solar panel installation services | — | $73M FY2025 | — | 375 | 1985 | — | — |
| 7 | Advance Infrastructures Company specializing in providing oil and gas infrastructure services | — | $37M FY2025 | +2% | 864 | 2007 | — | — |
| 8 | Kotyark Manufacturer of fuel for green environment | — | $34M FY2025 | +6% | 152 | 2016 | Gaurang Shah Managing Director | — |
| 9 | TMC India Manufacturer of transformers and substations 45Growth top 37%Moat top 37%Funding top 44%Fin. health top 47% All 8 signals ▾Growthtop 37% Moattop 37% Fundingtop 44% Fin. healthtop 47% Marketbottom 49% Talentbottom 45% Globalbottom 29% Techbottom 23% Growth: Headcount 120 → 151 (+26%) across vintages · Revenue +5% YoY Moat: Top 15% by revenue among 327 tracked Electricity Transmission & Distribution Equipment companies · Editorial + unicorn rating 1/10 rank vs industry peers · Fliar Intelligence Index 45/100 | $10M | $32M FY2025 | +5% | 151 | 2009 | Hridaynaryan Shukla Founder & Managing Director | — |
| 10 | Panasonic Energy India Manufacturer & supplier of dry cell batteries and lighting products | — | $32M FY2025 | -8% | 503 | 1972 | Akinori Isomura Chairman & Managing Director | — |
| 11 | Future Solar Largest Solar Panel Manufacturers in India | Future Solar | — | $31M FY2025 | — | — | 2022 | Richi Rao Co-Founder | 1 award |
| 12 | Akshar Group Manufacturer of electrical panels | — | $27M FY2024 | — | 25 | 2008 | — | 1 job opening |
| 13 | MicroTech Manufacturer of solar mounting systems | — | $23M FY2025 | +61% | — | 2017 | Janak Amin Co-Founder | — |
| 14 | MECpower Solutions Provider of renewable energy services | — | $23M FY2025 | +89% | — | 2016 | — | 1 job opening |
| 15 | Quebec Petroleum Resources Manufacturer and marketer of lubricants with a license | — | $22M FY2025 | -25% | — | 2005 | Deepak Sadarangani Co-Founder | — |
| 16 | Avani Petrochem Manufacturer of industrial oils and solvents | — | $15M FY2021 | — | 55 | 1980 | Dipak Shah Co-Founder | — |
| 17 | L&T-Sargent & Lundy Developer of non-renewable energy based power projects | — | $14M FY2022 | — | 375 | 1995 | — | 1 job opening |
| 18 | S. E. Power Developer of wind energy projects | — | $12M FY2025 | +36% | 38 | 2010 | — | — |
| 19 | Sampann Utpadan India Developer of wind and solar renewable energy power projects | — | $12M FY2025 | +36% | 38 | 2010 | Sachin Agarwal CEO & Managing Director | — |
| 20 | Atlas Transformers India Manufacturier of high voltage dry type and liquid filled transformers | — | $11M FY2022 | — | 4 | 2020 | — | — |
| 21 | Expel Prosys Provider of electrical protection audit services and manufacturing of LV switchboards | — | $10M FY2022 | — | 367 | 2002 | — | — |
| 22 | R A Kapoor Transporters Provider of safe and reliable transportation solutions for the oil and gas industry | — | $8M FY2022 | — | 15 | 1986 | — | — |
| 23 | Ankur Scientific Provider of waste management and biogas services | — | $6M FY2025 | -32% | 375 | 1986 | Jignesh Shah CEO & Business Head | — |
| 24 | SACH Group Provider of online slot games and betting services | — | $5M FY2025 | +51% | 35 | 1997 | Apurava Pathak CEO | — |
| 25 | ABS Products Manufacturer of high voltage switchgear products, air break switches, isolators, and other electrical… | — | $4M FY2025 | +66% | — | 2012 | — | — |
| 26 | Nextray Technologies Manufacturer of industrial and residential lighting systems | — | $3M FY2025 | +29% | 72 | 2004 | Hardik Patel Co-Founder | — |
| 27 | Next Gen Equipments Provider of high-voltage testing and measuring equipment | — | $2M FY2025 | +113% | — | 2009 | — | 2 launchs |
| 28 | Frelit energy Manufacturer of high-performance solar inverters for residential, commercial, and industrial applications. | — | $2M FY2025 | +70% | — | 2019 | Ankur Karkar Founder & CEO | — |
| 29 | Tecso Global Developer of solar energy projects | $2M | $2M FY2025 | -37% | 12 | 2005 | Kinnari Hariyani Founder & Director | — |
| 30 | NRG Manufacturers of solar water heaters and solar lights | — | $887K FY2025 | -1% | 11 | 1985 | Narendra Yardi Founder | — |
| 31 | Ayra Power Manufacturer of electronic transformers | — | $594K FY2025 | +16% | — | 2022 | Ashish Mittal Co-Founder | — |
| 32 | Green Wave India Provider of energy efficiency solutions for HVAC equipment | — | $309K FY2025 | +35% | — | 2010 | — | — |
| 33 | Anrgi Tech Manufacturer of control panel products | — | $213K FY2019 | -38% | 778 | 2017 | — | 2 job openings · 3 internships |
| 34 | Gascomp Fueltech Manufacturer of clean gaseous fuel equipment | $241K | $171K FY2025 | -43% | 8 | 2020 | Darshan Soni Founder & CEO | — |
| 35 | KV Trans Power Manufacturer of power and distribution transformers | — | $107K FY2024 | +35% | 1 | 2014 | Rajesh Shah Founder | — |
| 36 | Elmex Manufacturer of terminal blocks and pioneer in electrical wire termination technology | — | $41K FY2023 | — | 210 | 1963 | — | — |
| 37 | UNesar Provider of renewable energy production services for cooking solutions | $134K | $10K FY2025 | +62550% | — | 2016 | Supriya Sami Co-Founder | — |
Top 5 Energy companies in Vadodara
#1
Series A · Vadodara, Gujarat · founded 2009 · 151 employees$10Mraised▾
Series A · Vadodara, Gujarat · founded 2009 · 151 employees
TMC Transformers (India) Private Limited is acknowledged as a leader in oil-filled and dry type transformers, with a team of carefully selected engineers and technicians.
Fliar Intelligence Index™ 45how this company ranks against its industry peers
Growth
top 37%Moat
top 37%Funding
top 44%Fin. health
top 47%Market
bottom 49%Talent
bottom 45%Growth: Headcount 120 → 151 (+26%) across vintages · Revenue +5% YoY · Fresh capital in last 24 mo
Moat: Top 15% by revenue among 327 tracked Electricity Transmission & Distribution Equipment companies · Editorial + unicorn rating 1/10
Funding: Raised $10.0M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) · Last round Series A (Apr 2026)
Funding rounds
- Apr 2026Series A$10M
Founders & team
Investors
India SME Investments
Tech stack
AosGoogle Font ApiHammer.JsIisJqueryJquery Migrate
#2
Public · Vadodara, Gujarat · founded 1992 · 1081 employees$83.5Mraised▾
Public · Vadodara, Gujarat · founded 1992 · 1081 employees
Manufacturer of standard & engineered cryogenic equipment
Founders & team
Investors
Standard Chartered
Tech stack
BootstrapCdnjsCloudflareCloudflare Bot ManagementContentfulFont Awesome
#3
Seed · Vadodara, Gujarat · founded 2005 · 12 employees$1.7Mraised▾
Seed · Vadodara, Gujarat · founded 2005 · 12 employees
Developer of solar energy projects. It is involved in project execution serving industrial and large scale solar utility projects.Services include EV charging, educational training and NFO services. It also provides charging stations across important markets of EVs in India for cars, buses, and even trucks.
LinkedIn Pulse recent public activity · Jul 2026
Audience: 4k LinkedIn followers
Funding rounds
- Jul 2022Angel$1.7M
Founders & team
Investors
Osmosis Trading and Leasing, Protos Engineering
#4
Seed · Vadodara, Gujarat · founded 2020 · 8 employees$241.5Kraised▾
Seed · Vadodara, Gujarat · founded 2020 · 8 employees
Manufacturer of clean gaseous fuel equipment. It specializes in manufacturing compressors, clean fuel dispensers, and other equipment for clean and alternative gaseous fuels such as CNG, BioCNG, LNG, and Hydrogen.
Funding rounds
- Mar 2024Seed$120.6K
- Feb 2023Seed$242K
Founders & team
Investors
ONGC
Tech stack
PleskWindows ServerParticles.JsGoogle MapsBootstrapMicrosoft Asp.Net
#5
Seed · Vadodara, Gujarat · founded 2016$133.7Kraised▾
Seed · Vadodara, Gujarat · founded 2016
Pune's news source for local updates, business, crime, and lifestyle. This platform delivers the latest happenings in Pune, covering diverse sections like business, crime, education, entertainment, health, lifestyle, local politics, and science. It aims to keep residents informed about their city with easy-to-understand news stories. The website provides updates on events, traffic, and stories about the people shaping Pune. It reflects the city's blend of tradition and modernity, striving to be a trusted source of information. The platform encourages community engagement, inviting story ideas and feedback to enhance its coverage. It offers a comprehensive view of Pune, celebrating the city's unique character and fostering a sense of local pride. The website also provides quick links to essential information, including contact details and privacy policies.
Funding rounds
- Apr 2021Seed$31K
- Jul 2020Seed$46.7K
- Dec 2018Seed$56K
Founders & team
Investors
HPCL, MSA Renewable Foundation
Tech stack
WixReactGoogle CloudPolyfillLodashWhatsapp Business Chat
Funding & investor landscape
$95.6Mtotal disclosed funding
5companies funded
7disclosed rounds
0rounds last 90 days
Most active investors
MSA Renewable Foundation1 rounds
Osmosis Trading and Leasing1 rounds
Notable founders
Hridaynaryan Shukla
Founder & Managing Director · TMC India
P Kulkarni
Founder · INOXCVA
Deepak Acharya
CEO · INOXCVA
Kinnari Hariyani
Founder & Director · Tecso Global
Darshan Soni
Founder & CEO · Gascomp Fueltech
Supriya Sami
Co-Founder · UNesar
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 SIGNALS · India
How research on Grid Energy Storage is moving in India
A read on the academic research around Grid Energy Storage — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 4,206 India-affiliated papers.
research sentiment over time
201420212026
enthusiastic · positive · guarded tone
Tone is overwhelmingly optimistic and softening — the enthusiastic (strongly-positive) share moved 79% → 70% across 2014–2026.
top research entities
- Ministry of Education193
- Saveetha University139
- Vellore Institute of Technology University136
- Power Grid Corporation128
- SRM Institute of Science and Technology115
leading researchers
Bhim Singh · Rajesh Kumar · Chandra Sekhar Rout · Arnab Ghosh · Mohit Bajaj · Pravat Kumar Ray · Love Bansal · Vanchiappan Aravindan
▲
Breakthroughs1,213 · 29%
▼ 32%→29% share
▼0.9× share momentum0 median citations98% since 2021mostly methods-led
Breakthroughs are cooling (32%→29% of field), led by Supercapacitor.
rising sub-themes (early→recent)
- Supercapacitor10→294
- Renewable energy1→237
- Battery (electricity)4→224
- Capacitance2→161
- Photovoltaic system3→154
Newly emergingElectrical engineering 0→59 · Energy (signal processing) 0→54 · Faraday efficiency 0→53
Landmark Ultrathin Planar Graphene Supercapacitors · 1,221 cites
◆
Advancements2,351 · 56%
▲ 44%→56% share
▲1.3× share momentum1 median citations98% since 2021mostly methods-led
Advancements are rising (44%→56% of field), led by Renewable energy.
rising sub-themes (early→recent)
- Renewable energy3→561
- Battery (electricity)4→494
- Supercapacitor12→433
- Photovoltaic system2→344
- Microgrid3→278
Newly emergingPower (physics) 0→202 · Thermal energy storage 0→156 · Energy (signal processing) 0→146
Landmark High entropy oxides for reversible energy storage · 1,228 cites
▼
Concerns271 · 6%
▼ 9%→6% share
▼0.7× share momentum1 median citations97% since 2021mostly reviews
Concerns are cooling (9%→6% of field), led by Renewable energy.
rising sub-themes (early→recent)
- Renewable energy1→85
- Nanotechnology3→40
- Supercapacitor1→38
- Electrolyte1→21
- Anode1→16
Newly emergingBattery (electricity) 0→55 · Electrochemical energy storage 0→22 · Cathode 0→21
Landmark Nanostructured anode materials for lithium ion batteries · 805 cites
RESEARCH HOTSPOTS · India
Where energy storage is researched across India
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Chennai228 · +0.61
Delhi-NCR217 · +0.53
Mumbai140 · +0.57
Bengaluru107 · +0.60
Hyderabad100 · +0.60
Roorkee97 · +0.56
Pune81 · +0.59
Kharagpur54 · +0.65
Varanasi52 · +0.58
Kanpur43 · +0.48
PATENT SIGNAL · India
Who's filing energy storage patents in India
India energy storage patent filing is accelerating — 121 filings from 162 assignees (2016–2025), led by TVS Motor, General Electric, Indian INST Scient; annual filings 7→27.
121 filings162 assigneespeak 27/yr2016–2025
filing momentum (YoY 2016–2025)
top patent filers
- TVS Motor46
- General Electric16
- Indian INST Scient15
- Offgrid Energy LABS12
- Vallance Michael ALAN11
- Delectrik Systems11
- Seshadri HARI Nadathur11
- Iacovangelo Charles Dominic9
Common questions
How many Energy companies are there in Vadodara, India?
Radar tracks 64 indexable Energy companies headquartered in Vadodara, India, India, that meet our profile-completeness bar.
What is the total funding raised by Energy companies in Vadodara, India?
The Energy companies in Vadodara, India on this list have raised a combined $95.6M in disclosed equity funding across 5 funded companies.
Which is the highest-funded Energy company in Vadodara, India?
INOXCVA is the highest-funded Energy company in Vadodara, India, with $83.5M in disclosed equity funding.
How many Energy companies in Vadodara, India are funded?
5 of the 64 Energy companies in Vadodara, India on this list have disclosed at least one equity funding round.
How many Energy unicorns are there in Vadodara, India?
None of the Energy companies in Vadodara, India on this list currently has a disclosed valuation of $1B or more.
Who are the top investors in Vadodara, India Energy companies?
The most active investors in Vadodara, India Energy companies on this list include HPCL, IDEA Fund Partners, India SME Investments, Kitara Capital, MSA Renewable Foundation.
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.