Company lists
The Mumbai edition · 2026

Energy techcompanies in Mumbai

Renewable & solar, energy storage, energy efficiency, smart buildings, electric vehicles and more: the companies building energy tech in Mumbai, Maharashtra, with their founders, funding, team size and business models.

247 company profiles131 with reported revenue46 with recorded fundingSeptember 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent energy tech business events in Mumbai

Funding, M&A, contract wins and launches involving 302 energy tech companies in Mumbai, last 24 months: 27 Contracts · 20 funding rounds · 9 M&A deals · 2 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Apr 2026.

ContractService

Sterling and wilson renewable energy · client: Coal india

The company said it has been declared the L1 bidder for a turnkey EPC package from Coal India for the development of an 875 MW (AC) grid-connected solar PV project in Bikaner, Rajasthan.…

Renewable Energy
FundingParent company guarantee

Sterling and wilson renewable energy

Sterling and Wilson Renewable Energy Limited has issued a USD 34 million parent company guarantee in favour of Nedbank Limited to secure an additional working capital facility for…

Investors Nedbank
Solar power
ContractSupply

Citroën · client: Cab-e

Citroën has signed a Memorandum of Understanding (MoU) with urban e-mobility firm Cab-E, to introduce over 2000 Citroën ë-C3 EVs in Cab-E’s fleet in the Mumbai and Pune region, this year.

ContractGovernment

SCharge · client: Technology Development Board

the government body entered an agreement with Scharge Private Limited to develop a next‑generation electric vehicle charging solution for commercial fleet and depot operations under the…

Industrial sustainability, EV charging infrastructure
Funding

Ecofy

Ecofy, an NBFC focused on financing climate change solutions, raised Rs 380.5 crore ($41 million approx,) from BII and DAIF.

Investors Bii, DAIF
FinTech
Funding

Living things

Spadel has invested in UK beverage company Living Things through its venture capital arm, The Source Ventures, as part of a new funding round aimed at accelerating growth.

Investors Spadel
LaunchACTIVE technology petrol

Jio-bp

Goa, India, January 29, 2026: Hon’ble Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri today launched the path-breaking ACTIVE technology petrol at Jio-bp (the operating…

Petrol
FundingPre-Series B

Neuron energy

India’s EV battery startup Neuron Energy has secured ₹31 crore in a Pre-Series B funding round — a move many see as a big vote of confidence in domestic battery manufacturing.

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingPre-Series B

Neuron energy

Neuron Energy, a leading EV battery manufacturer, has raised ₹31 crore in its Pre-Series B funding round

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingDebt and equity

Magenta mobility

This comes less than a year after Magenta raised around ₹100 crore in debt and equity in March.

Electric mobility
FundingStrategic investment

Promethean energy

Mondelez India has announced a strategic investment in Promethean Energy, an Indian company developing technology to reduce carbon emissions from industrial heat processes.

Investors Sustainable futures
Clean Energy
Funding

Greencell mobility

In September, the International Finance Corporation (IFC) announced $137 million in financing for electric bus makers JBM ECOLIFE (a JBM Auto subsidiary) and GreenCell Mobility

Electric bus
M&AAcquisition · Announced

ChargeZone acquires Zerovolt

ChargeZone, India's largest charge point operator, has acquired Zerovolt's Wadala charging facility in Mumbai in an all-cash deal.

FundingLoan

Epsilon advanced materials

Epsilon Advanced Materials Inc (EAM), the battery materials arm of Epsilon Group, has received a non-binding Letter of Interest (LOI) from the Export-Import Bank of the United States…

Investors Export-Import Bank of the United States (EXIM)
Battery materials
ContractSupply

Adani Total · client: Jio-bp

Adani Total Gas Ltd. (ATGL) and Jio-bp (operating brand of Reliance BP Mobility Ltd) on Wednesday announced the signing of an agreement under which the two entities will begin offering…

Fuel
FundingPre-Series A

Promethean energy

With the help of Transition VC, Sangam Venture, Sagana Capital, and Fondation Botnar, Promethean Energy, a cleantech startup that aims to decarbonize industrial heating, has raised $2…

Investors Transition Vc, Sangam Venture, Sagana Capital, Fondation botnar
Cleantech
ContractSupply

Montra electric · client: Magenta mobility

Montra Electric will supply 100 units of its recently launched EVIATOR E350L electric small commercial vehicles to Magenta Mobility.

Electric vehicle supply
ContractSupply

Tivolt Electric Private Limited · client: Magenta mobility

Montra Electric’s Small Commercial Vehicle (SCV) division, Tivolt Electric Vehicles, will supply 100 units of its newly launched Eviator E350L electric vehicles to Magenta Mobility.

Logistics
M&AAcquisition · Announced

Remsons industries acquires Astro Motors

Remsons Industries has announced that it has purchased a majority stake in Astro Motors

Electric three-wheeler manufacturer
FundingLong-term loan

Ecofy

Ecofy Finance, a non-banking financial company (NBFC) focused on supporting India’s green transition, has raised INR 104 Crore ( around $12.5 million) long-term loan facility from the…

Investors Investment Fund for Developing Countries (IFU)
FundingPre-Series B

Magenta mobility

Mumbai-based electric mobility startup Magenta Mobility has raised ₹100 Cr (about $11.5 Mn) in a mix of equity and debt in its pre-Series B round.

Investors BP Tech Ventures, Morgan Stanley India Infrastructure, Na
Electric mobility
ContractSupply

Eicher trucks and buses · client: Magenta mobility

Eicher Trucks and Buses has begun the supply of its newly launched Eicher Pro X electric trucks to Magenta Mobility logistics solutions provider.

Logistics
ContractSupply

Eicher Trucks · client: Magenta mobility

Eicher Trucks and Eicher, a business unit of VE Commercial Vehicles announced the commencement of supplies of the Eicher Pro X small truck to Magenta Mobility, a leading logistics…

Logistics
M&AAcquisition · Completed

International Conveyors acquires Sterling and wilson renewable energy

International Conveyors has informed that it has acquired equity shares in Sterling and Wilson Renewable Energy (SW Solar), valued at Rs 3.49 crore.

Solar EPC
ContractService

Jupiter Electric Mobility · client: Pulse energy

We are pleased to announce that Jupiter Electric Mobility Private Limited (“JEM”), Subsidiary of Jupiter Wagons Limited strengthens its EV ecosystem for the growth of its eLCV business.…

Electric Vehicles
M&AAcquisition · Completed

Morgan stanley acquires Sterling and wilson renewable energy

Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for ₹103 crore through an open market transaction.

ContractSupply

Aerpace · client: Na

Aerpace Industries Limited, under its key renewable energy initiative, aerVolt, has secured a significant order for the supply of 100 MWp high-efficiency 595 Wp TOPCon technology smart…

Renewable Energy
Funding

Mahindra electric automobile

British International Investments (BII) has fulfilled its 2022 commitment by injecting an additional ₹ 650 crore into Mahindra Electric Automobile Limited (MEAL) as part of its final…

Investors British International Investments, Asian infrastructure investment bank, OP Finnfund Global Impact Fund I, Finnfund
Electric Vehicle

Energy tech companies in Mumbai, by revenue

Browse energy tech companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 131 energy tech 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 50

Chains providing fuel, electric vehicle charging, and convenience store services

Oil & gas downstream
₹51,067.48 crFY 2024-25
+33%2024–2025
2,622-100% 12 mo to Oct 2024LinkedIn · Jul 2026
18 yr2008
5postings · last posted Sep 2026

Manufacturer of electric cars

Electric vehicles
₹15,247.00 crFY 2024-25
+47%2024–2025
1,169LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Developer of energy storage systems

Solar energy
₹2,125.87 crFY 2022-23
Not reported
1,817-11% 12 mo to Apr 2024LinkedIn · Jul 2026
99 yr1927
0none in 3 months

Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

Smart grid
₹933.09 crFY 2024-25
+2986%2024–2025
981LinkedIn · Jul 2026
15 yr2011
1postings · last posted Jul 2026

Developer of lithium-ion battery packs for multi-cateory electric vehicles

Energy storage tech
₹489.83 crFY 2024-25
-20%2024–2025
40+3900% 12 mo to Jun 2023recorded Jun 2023
44 yr1982
0none in 3 months

Solar financing, equipment procurement, and performance monitoring solutions

Renewable energy tech
₹279.47 crFY 2024-25
+58%2024–2025
182+34% 12 mo to Aug 2024LinkedIn · Jul 2026
8 yr2018
4postings · last posted Sep 2026

Manufacturer of electric scooters designed for urban and developing environments

Electric vehicles
₹238.88 crFY 2024-25
+34%2024–2025
499+16% 12 mo to Jul 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Provider of energy and power management solutions for data centers

Facility management tech
₹162.42 crFY 2024-25
+9%2024–2025
41LinkedIn · Jul 2026
30 yr1996
0none in 3 months

Producer and supplier of fossil and biofuels

Renewable energy tech
₹118.72 crFY 2024-25
+42%2024–2025
34-44% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Provider of technology-based energy-saving lighting products

Energy efficiency tech
₹107.13 crFY 2022-23
Not reported
187+11% 12 mo to Sep 2024recorded Sep 2024
57 yr1969
—No postings tracked

Manufacturer of batteries

Energy storage tech
₹108.00 crFY 2024-25
+156%2024–2025
—Not available
16 yr2010
0none in 3 months

Financial solutions for the electric vehicle, solar, and SME sectors

Alternative lending
₹106.91 crFY 2024-25
+206%2024–2025
422+75% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Manufacturer of lithium-ion batteries for electric vehicles and energy storage

Energy storage tech
₹106.54 crFY 2024-25
+68%2024–2025
117+60% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Manufacturer of electric scooters, components, financial information, and investor resources

Electric vehicles
₹102.12 crFY 2024-25
+4860%2024–2025
21LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Doorstep delivery of fuel

Oil & gas tech
₹86.92 crFY 2024-25
+82%2024–2025
—Not available
5 yr2021
0none in 3 months

Provider of electric vehicle fleets and charging infrastructure management services

Logistics tech
₹83.07 crFY 2024-25
+89%2024–2025
365+3% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

Manufacturer of batteries

Energy storage tech
₹75.14 crFY 2024-25
+0%2024–2025
—Not available
18 yr2008
0none in 3 months

Provider of drilling fluid services for the oil and gas industry

Oil & gas tech
₹71.67 crFY 2024-25
+15%2024–2025
—Not available
16 yr2010
0none in 3 months

Provider of software for solar project management and supply procurement

Renewable energy tech
₹69.77 crFY 2024-25
+70%2024–2025
28LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of electric scooters

Electric vehicles
₹51.85 crFY 2024-25
+18%2024–2025
87+27% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Software platform for monitoring and operation of IPPs in the wind energy sector

Renewable energy tech
₹51.75 crFY 2024-25
-18%2024–2025
432-14% 12 mo to Jul 2024LinkedIn · Jul 2026
18 yr2008
1postings · last posted Jul 2026

Provider of biodiesel products

Renewable energy tech
₹45.83 crFY 2024-25
-18%2024–2025
78-96% 12 mo to Mar 2019LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Provider of thermal energy systems for heating installations of various sizes

Electric vehicles
₹43.79 crFY 2024-25
+62%2024–2025
55-27% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
0none in 3 months

Provider of environmental and energy conservation solutions

Energy efficiency tech
₹40.27 crFY 2024-25
-20%2024–2025
13LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Online platform offering bioenergy solutions

Crop tech
₹40.05 crFY 2024-25
+279%2024–2025
197-73% 12 mo to Feb 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Jun 2026
50 of 247 companies shown here · the full list is on Radar
Fliar Radar

Explore all 247 energy tech companies in Mumbai on Radar

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

Open energy tech in Mumbai on Radar
  • Every company, not just 50All 247 energy tech 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 energy tech companies in Mumbai by what you are looking for

Browse the top energy tech companies in Mumbai, from renewable energy and energy storage to energy efficiency and smart building firms. Find energy tech startups in Mumbai and energy technology solutions in one list.

9 ways to explore energy tech in Mumbai

Renewable energy & solar technology companiesEnergy storage & battery companiesEnergy efficiency & LED lighting companiesBuilding management & facility technology companiesElectric vehicle & EV charging companiesSmart grid, metering & IoT energy companies

Renewable energy & solar technology companies

Companies in solar, wind, bioenergy and hydrogen.

  1. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  2. Avaada Electro

    Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

    Smart grid
    See in list
  3. Aerem

    Solar financing, equipment procurement, and performance monitoring solutions

    Renewable energy tech
    See in list
  4. Biofuels Junction

    Producer and supplier of fossil and biofuels

    Renewable energy tech
    See in list
  5. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list

Energy storage & battery companies

Makers of batteries and energy storage systems.

  1. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  2. Battrixx

    Developer of lithium-ion battery packs for multi-cateory electric vehicles

    Energy storage tech
    See in list
  3. Rocket Batteries

    Manufacturer of batteries

    Energy storage tech
    See in list
  4. Neuron Energy

    Manufacturer of lithium-ion batteries for electric vehicles and energy storage

    Energy storage tech
    See in list
  5. Akari

    Manufacturer of batteries

    Energy storage tech
    See in list

Energy efficiency & LED lighting companies

Energy saving, energy management and lighting solutions.

  1. OnLine Netsys

    Provider of energy and power management solutions for data centers

    Facility management tech
    See in list
  2. eSmart Energy solutions

    Provider of technology-based energy-saving lighting products

    Energy efficiency tech
    See in list
  3. Signet EnerTech

    Provider of environmental and energy conservation solutions

    Energy efficiency tech
    See in list
  4. Corvi

    Provider of high-efficiency LED lighting solutions with a focus on innovative design and manufacturing processes

    Energy efficiency tech
    See in list
  5. Argos Arkaya Power Solutions

    Lighting & renewable energy solutions

    Energy efficiency tech
    See in list

Building management & facility technology companies

Building automation, energy management and smart home providers.

  1. OnLine Netsys

    Provider of energy and power management solutions for data centers

    Facility management tech
    See in list
  2. Signet EnerTech

    Provider of environmental and energy conservation solutions

    Energy efficiency tech
    See in list
  3. Uniser

    Manufacturer of solar powered LED lighting and home automation systems

    Property management tech
    See in list
  4. Neotech

    Provider of heat pumps

    Facility management tech
    See in list
  5. Nirvana Lighting

    Provider of LED lighting products

    Energy efficiency tech
    See in list

Electric vehicle & EV charging companies

Electric vehicle makers, rental firms and charging networks.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Battrixx

    Developer of lithium-ion battery packs for multi-cateory electric vehicles

    Energy storage tech
    See in list
  3. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  4. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list
  5. Neuron Energy

    Manufacturer of lithium-ion batteries for electric vehicles and energy storage

    Energy storage tech
    See in list

Smart grid, metering & IoT energy companies

Smart meters, utility management and IoT monitoring.

  1. Gemstar Infra India

    Provider of smart electric meters and deployment services

    Smart grid
    See in list
  2. UtopiaTech

    Provider of IoT and cloud-enabled energy management software solutions

    Smart cities
    See in list
  3. Parimal Clean Energy

    Provider of renewable energy solutions and electrical metering systems. This includes solar, wind, and hybrid energy solutions, as well as advanced metering infrastructure such as multi-function panel meters, direct connected meters, and smart prepayment meters. Services encompass meter testing, installation, and audits of distribution transformers. The company also offers annual operation and maintenance services for renewable energy systems. They provide complete energy solutions from consultation to installation.

    Energy efficiency
    Website
  4. Innoquad Technologies

    Provider of IoT based solutions in multi-industries

    Energy efficiency tech
    Website
  5. Enetech Energy Managers

    Provider of energy management and monitoring solutions

    Facility management tech
    Website

Oil, gas & fuel technology companies

Fuel delivery, drilling and oil and gas equipment providers.

  1. Josh Fuels

    Doorstep delivery of fuel

    Oil & gas tech
    See in list
  2. ASAP Fluids

    Provider of drilling fluid services for the oil and gas industry

    Oil & gas tech
    See in list
  3. The Fuel Delivery

    App-based platform providing fuel delivery management solutions

    Oil & gas tech
    See in list
  4. Kleenoilindia

    Manufacturer of industrial oil filtration systems and related equipment

    Oil & gas tech
    See in list
  5. Higeetrilok

    Provider of process intensification solutions for gas and liquid separation

    Oil & gas tech
    Website
13 companies in Mumbai

Energy tech startups in Mumbai

Newer energy tech companies founded in recent years.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list
  3. Josh Fuels

    Doorstep delivery of fuel

    Oil & gas tech
    See in list
  4. Solar Ladder

    Provider of software for solar project management and supply procurement

    Renewable energy tech
    See in list
  5. Powertronics Corporate Solution

    Manufacturer of energy storage systems

    Energy storage tech
    See in list
62 companies in Mumbai

Energy tech companies hiring in Mumbai

Energy tech companies with open roles right now.

  1. Jio-bp

    Chains providing fuel, electric vehicle charging, and convenience store services

    Oil & gas downstream
    See in list
  2. Avaada Electro

    Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

    Smart grid
    See in list
  3. Aerem

    Solar financing, equipment procurement, and performance monitoring solutions

    Renewable energy tech
    See in list
  4. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  5. POWERCON

    Software platform for monitoring and operation of IPPs in the wind energy sector

    Renewable energy tech
    See in list
26 companies in Mumbai
Mobile reach

Top 10 energy tech apps from Mumbai

The most-installed Android apps published by energy tech companies headquartered in Mumbai — 467K installs between them. 29 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
2

AppSociety: Society Management

by AppSociety

Installs122K
Rating—
Installs, year on year+24%
Last updatedJan 2026
View on Google Play ↗
AppSociety: Society Management screenshot 1AppSociety: Society Management screenshot 2AppSociety: Society Management screenshot 3AppSociety: Society Management screenshot 4AppSociety: Society Management screenshot 5AppSociety: Society Management screenshot 6
3

MyJio-bp

by Jio-bp

Installs61K
Rating—
Last updatedMay 2026
View on Google Play ↗
MyJio-bp screenshot 1MyJio-bp screenshot 2MyJio-bp screenshot 3MyJio-bp screenshot 4MyJio-bp screenshot 5MyJio-bp screenshot 6
4

Bijlify EV Charging

by Bijlify

Installs33K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Bijlify EV Charging screenshot 1Bijlify EV Charging screenshot 2Bijlify EV Charging screenshot 3Bijlify EV Charging screenshot 4Bijlify EV Charging screenshot 5Bijlify EV Charging screenshot 6
6

BGauss | ElectricScooter India

by BGauss

Installs28K
Rating—
Last updatedMay 2026
View on Google Play ↗
BGauss | ElectricScooter India screenshot 1BGauss | ElectricScooter India screenshot 2BGauss | ElectricScooter India screenshot 3BGauss | ElectricScooter India screenshot 4BGauss | ElectricScooter India screenshot 5
7

Quiklyz

by Quiklyz

Installs24K
Rating—
Last updatedNov 2025
View on Google Play ↗
Quiklyz screenshot 1Quiklyz screenshot 2Quiklyz screenshot 3Quiklyz screenshot 4Quiklyz screenshot 5Quiklyz screenshot 6
10

Ohm Assistant

by Ohm

Installs13K
Rating—
Last updatedApr 2025
View on Google Play ↗
Ohm Assistant screenshot 1Ohm Assistant screenshot 2Ohm Assistant screenshot 3Ohm Assistant screenshot 4Ohm Assistant screenshot 5Ohm Assistant screenshot 6
The business behind the activity

Energy tech financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 115 energy tech companies in Mumbai, Maharashtra for FY24-25 — 141 of the 247 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 93% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹24,082.96 cr

115 companies filing accounts

combined net profit₹531.12 cr

2.2% aggregate margin

are profitable42%

48 of 115 companies

median revenue~₹1.6 cr

the typical company

median revenue growth+33%

into FY24-25

earned by the top five93%

revenue concentration

Six-year view

Combined revenue of filing companies

₹5,493.50 crFY19-2064 filers
₹3,996.57 crFY20-2177 filers
₹4,693.60 crFY21-2287 filers
₹3,601.43 crFY22-23103 filers
₹15,308.65 crFY23-24108 filers
₹24,082.96 crFY24-25115 filers

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

Like-for-like

The same 89 companies over three years

+543%
FY22-23₹3,573.01 cr−₹616.56 cr net
FY23-24₹15,178.53 cr−₹429.75 cr net
FY24-25₹22,963.94 cr₹371.86 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 cr4812% profitable
₹1–10 cr3053% profitable
₹10–100 cr2763% profitable
₹100–1,000 cr888% profitable
Over ₹1,000 cr2100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking33
0–20%15
20–50%10
50–100%15
Doubled+29

102 companies with accounts for both years; median growth +33%.

Profitability

Profit is concentrated at the top

48profitable
66loss-making
2.2%aggregate margin
-9.5%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
Powertronics Corporate SolutionPOWERTRONICS CORPORATE SOLUTION PRIVATE LIMITED
Rocket BatteriesROCKET BATTERIES INDIA PRIVATE LIMITED+156%₹108.00 cr
Cab-eezCAB-EEZ INFRA TECH LIMITED
CorviCorvi Led Limited
MagentaMAGENTA EV SOLUTIONS PRIVATE LIMITED+92%₹82.76 cr
Sterling and WilsonSTERLING AND WILSON RENEWABLE ENERGY LIMITED+88%₹5,592.38 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Avaada ElectroAvaada Electro Limited18.6%₹933.09 cr
Gemstar Infra IndiaGEMSTAR INFRA INDIA PRIVATE LIMITED
Raft Cosmic EVRAFT MOTORS LIMITED15.9%₹102.12 cr
ASAP FluidsASAP FLUIDS PRIVATE LIMITED14.8%₹71.67 cr
POWERCONPOWERCON VENTURES INDIA PRIVATE LIMITED'14.0%₹51.75 cr
My Eco EnergyMY OWN ECO-ENERGY PRIVATE LIMITED13.8%₹45.83 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles38₹15,555.14 cr~₹43 lakh26%0.4%
Energy storage tech17₹827.53 cr~₹1.6 cr41%1.3%
Renewable energy tech9₹309.94 cr~₹28.3 cr33%2.8%
Energy efficiency tech13₹261.07 cr~₹8.3 cr54%4.7%
Oil & gas tech7₹208.58 cr~₹11.6 cr71%4.8%
Facility management tech5₹182.20 cr~₹1.3 cr40%4.7%
Property management tech5₹37.92 cr~₹1.1 cr40%-8.4%
Leaders

Largest energy tech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED₹15,247.00 cr₹95.00 cr0.6%+47%
Sterling and WilsonSTERLING AND WILSON RENEWABLE ENERGY LIMITED₹5,592.38 cr₹318.26 cr5.7%+88%
Avaada ElectroAvaada Electro Limited₹933.09 cr₹173.30 cr18.6%>10×
BattrixxKABRA EXTRUSION TECHNIK LTD₹489.83 cr₹33.87 cr6.9%-20%
OnLine NetsysONLINE NETSYS (INDIA) PRIVATE LIMITED₹162.42 cr₹11.91 cr7.3%+9%
eSmart Energy solutionsESMART ENERGY SOLUTIONS LIMITED₹139.80 cr₹17.51 cr12.5%+24%
Biofuels JunctionBIOFUELS JUNCTION PRIVATE LIMITED₹113.06 cr−₹6.24 cr-5.5%+44%
Rocket BatteriesROCKET BATTERIES INDIA PRIVATE LIMITED₹108.00 cr₹77.17 lakh0.7%+156%
Neuron EnergyNEURON ENERGY PRIVATE LIMITED₹106.54 cr₹76.07 lakh0.7%+68%
Raft Cosmic EVRAFT MOTORS LIMITED₹102.12 cr₹16.20 cr15.9%>10×
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

Energy Tech Industry Landscape of India

The financials above are one chapter. The full energy tech 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 energy tech 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

Energy tech funding and M&A across India

1,564 recorded equity rounds have gone to 4,036 energy tech 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 months71

US$945.96m

equity rounds, last 24 months249

US$2.88bn

raised over five yearsUS$8.58bn

1,071 rounds in India

M&A deals, Mumbai9

last 24 months

Capital by year

Equity funding into energy tech in India

amount rounds
$209m201881
$624m2019114
$238m2020111
$713m2021203
$2.4bn2022239
$1.8bn2023220
$999m2024214
$1.9bn2025156
$736m202639

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$2.43bn across 239 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$66.39m169 rounds · median US$121k
SeedUS$742.26m601 rounds · median US$430k
Series AUS$1.40bn182 rounds · median US$5.00m
Series BUS$1.26bn65 rounds · median US$13.74m
Series CUS$998.58m25 rounds · median US$26.97m
Series D+US$3.31bn25 rounds · median US$60.70m
Private equityUS$794.81m4 rounds · median US$250.00m
Where the money went · five years

Most-funded sub-sectors

Electric vehiclesUS$5.50bn455 rounds · 172 companies
Renewable energy techUS$1.22bn93 rounds · 44 companies
Energy storage techUS$673.49m183 rounds · 77 companies
Road transport techUS$321.68m51 rounds · 15 companies
Alternative lendingUS$181.80m18 rounds · 9 companies
Logistics techUS$98.08m13 rounds · 4 companies
Energy efficiency techUS$97.54m36 rounds · 19 companies
Corporate activity · last 24 months

M&A in Mumbai

9Acquisition

Most active acquirers

  1. Vajram Electric2
  2. ChargeZone1
  3. Remsons industries1
  4. International Conveyors1
  5. Morgan stanley1

Most acquired or merged

  1. Sterling and wilson renewable energy5
  2. Zerovolt1
  3. Astro Motors1
  4. Varcas1
  5. Varcas Automobiles1

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

Energy tech funding in Mumbai

46 energy tech companies in Mumbai have recorded equity funding, US$1.39bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind energy tech companies in Mumbai. 179 of 247 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai energy tech companies by sub-sector

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

Keep exploring energy tech in India and nearby markets.

Coming soon