Company lists
The Mumbai edition · 2026

Native aicompanies in Mumbai

Generative AI, chatbots & agents, marketing & sales AI, enterprise AI, computer vision and more: the companies building native ai in Mumbai, Maharashtra, with their founders, funding, team size and business models.

164 company profiles54 with reported revenue22 with recorded fundingOctober 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent native ai business events in India

Funding, M&A, contract wins and launches involving 2,113 native ai companies in India, last 24 months: 54 funding rounds · 25 launches · 16 M&A deals · 12 Contracts. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Apr 2026.

FundingMinority investment

Algo8

Chemelex has announced a minority investment in Algo8 to accelerate the adoption of artificial intelligence in manufacturing processes.

Investors Chemelex
Artificial intelligence, data analytics, and digital transformation solutions for enterprises
FundingSeed

Intellithink

Intellithink Advanced Hardware & Technology Internet Of Things (IoT) & Hardware B2B $1.8 Mn Seed Pentathlon Ventures, Anicut Capital, Veltis Capital Pentathlon Ventures

Advanced Hardware & Technology
LaunchDSW UnifyAI OS

Data science wizards

Data Science Wizards has announced the continued advancement of its enterprise AI operating system, DSW UnifyAI OS, designed to help organizations, particularly in banking, financial…

Enterprise AI Operating System
M&AAcquisition · Announced

Exotel acquires Dubverse

Exotel has acquired the core team of voice AI startup Dubverse

Telecommunications
M&AAcquisition · Completed

Thermax acquires Exactspace

Thermax confirmed completion of its acquisition of a 35.83 percent stake in Exactspace Technologies Private Limited, taking its overall shareholding to 51 percent on a fully diluted basis.

ContractTechnology

Dubverse · client: Exotel

Exotel has acqui-hired the core team of voice AI startup Dubverse, including co-founders Anuja Dhawan and Varshul Gupta, to focus on conversational intelligence.

Voice AI
Funding

Sarvam ai

India’s homegrown artificial intelligence start-up, Sarvam AI, is close to raising $300 million to $350 million as it seeks to build a domestic player that can compete with leaders from…

Investors Bessemer venture partners, Nvidia, Amazon.com Inc, Prosperity7 Ventures
AI
LaunchSarvam 30B/105B Large Language Model

Sarvam ai

In February 2026, Sarvam launched 30-billion and 105-billion parameter models, along with text-to-speech, speech-to-text, and vision capabilities trained from scratch.

LLM
FundingSeries B

Neysa

Neysa — accounted for roughly $600 million of this year’s funding, backed by investors including Blackstone, Ontario Teachers’ Pension Plan and Nexus Venture Partners.

Investors Blackstone, Ontario Teachers’ Pension Plan, Nexus venture partners
Artificial Intelligence
FundingGrant

Qure.ai

In AI-led services, Qure.AI secured a grant from the Gates Foundation for its medical imaging solutions.

Investors Gates Foundation
M&AAcquisition · Announced

C5i acquires Datavid

AI & Analytics company, C5i, today announced the signing of an agreement to fully acquire Datavid, a data & AI company that helps organizations transform fragmented, unstructured, and…

Data & AI
M&AAcquisition · Announced

Thermax acquires Exactspace

Thermax Limited has entered into definitive agreements to raise its stake in Exactspace Technologies Private Limited to 51% on a fully diluted basis, converting the artificial…

M&AAcquisition · Announced

Asm technologies acquires Myelin foundry

ASM Technologies announced that it has signed a definitive agreement to acquire 20% stake in Myelin Foundry

Funding

Neysa

US alternative asset manager Blackstone announced it is leading a $1.2 billion investment in cloud infrastructure startup Neysa.

Investors Blackstone, TVS Capital, 360 One Asset Management, Nexus venture partners
Cloud infrastructure
FundingSeries A

Peptris

AI-powered drug discovery startup Peptris also secured ₹70 Cr in a Series A round co-led by IAN Alpha Fund and Speciale Invest this month.

Investors IAN Alpha Fund, Speciale invest
M&AAcquisition · Completed

Blackstone acquires Neysa

Mumbai: Global private equity firm Blackstone, along with other investors, has acquired a majority stake in India’s artificial intelligence (AI) cloud platform Neysa as the company seeks…

Artificial Intelligence
M&AAcquisition · Announced

Blackstone acquires Neysa

The deal involves Blackstone investing $50-75 million in an initial tranche for a significant minority holding, with contractual rights to increase its stake to a majority if Neysa meets…

AI cloud infrastructure
LaunchUltraLED Displays

Titan Intech

Titan Intech launches UltraLED Displays for professional and public sector applications.

Premium LED display segment
FundingSeries D

Arya

With farmers facing greater climate‑related threats to their livelihoods, the company is expanding its services with funding from climate‑focused GEF Capital Partners, a spinout from the…

Agtech
FundingSeed

Krutrim

the original loan was taken to seed fund Krutrim, Aggarwal’s artificial intelligence venture.

Investors Na
ContractGovernment

E2e networks · client: Government of india

E2E Networks Ltd has begun the execution of its ₹177-crore order under the Government's IndiaAI Mission, following the allocation of high-end GPU resources to Gnani AI, the company said…

Artificial Intelligence
M&AAcquisition · Rumored

Lightspeed acquires Neysa

Blackstone is negotiating to buy out Neysa, while Lightspeed, similar to SoftBank, is exploring a $40–50 million minority investment in the Z47 and Nexus Venture Partners-backed company.

M&AAcquisition · Rumored

Softbank acquires Neysa

Blackstone wants to buy a majority stake in Neysa, while SoftBank and Lightspeed are discussing a minority investment that is expected to value the company at around $250-300 million.

LaunchVariable Pricing Model

Netcore cloud

Netcore Cloud has launched a Variable Pricing Model for its Agentic Marketing Platform, becoming the first in the world to link marketing technology costs directly to real business results.

Agentic Marketing Platform
LaunchAgentic Marketing Stack

Netcore cloud

Netcore Cloud has announced the launch of the Agentic Marketing Stack, a first-of-its-kind platform that brings autonomous AI agents into the heart of marketing.

Martech, AI-powered marketing platform
FundingSeed

Consuma

Consuma, an emerging deep-tech startup, has raised $1.3 million (₹11 crore) in a seed funding round led by Equirus InnovateX Fund, with participation from prominent angel investors…

Investors Equirus InnovateX Fund, Abhishek Goyal, Mekin Maheshwari, Bhavik Dholakia
AI and analytics
FundingSeries B

Intangles

Pune-based deep tech company Intangles has secured a fresh USD 30 million in its Series B funding round, led by Avataar Venture Partners with follow-on support from Baring India Private…

Investors Avataar Venture Partners, Baring India Private Equity, Cactus Partners
Automotive AI / Predictive Vehicle Intelligence
LaunchPayCentral.ai

Phronetic AI

Phronetic AI, India’s first full-stack Agentic AI platform and an AI tech company backed by Infibeam Avenues Ltd, has launched PayCentral.ai, the country’s first Agentic Payment Platform.

Agentic Payment Platform

Native ai companies in Mumbai, by revenue

Browse native ai 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 54 native ai 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

Provider of an AI-powered platform for customer engagement and marketing

Customer success management
₹885.84 crFY 2024-25
+11%2024–2025
1,279-48% vs previous recordLinkedIn · Jul 2026
28 yr1998
17postings · last posted Sep 2026

Provider of AI-powered solutions for medical image analysis and reporting

Clinical labs it
₹190.42 crFY 2024-25
+24%2024–2025
418+6% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
5postings · last posted Sep 2026

Provider of AI-powered baggage screening systems

Computer vision
₹60.92 crFY 2024-25
+174%2024–2025
—Not available
8 yr2018
0none in 3 months

Provider of AI acceleration cloud system with infrastructure and services

Cloud infrastructure
₹21.21 crFY 2024-25
+15195%2024–2025
129LinkedIn · Jul 2026
3 yr2023
4postings · last posted Sep 2026

Developer of vertical AI solutions for banking and financial services

Investment tech
₹18.00 crFY 2022-23
+8%2022–2023
67LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of no-code AI platform offering customer support

Chatbots
₹18.69 crFY 2024-25
+30%2024–2025
11LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Developer of investment strategies and tools for portfolio management automation

Investment tech
₹14.90 crFY 2024-25
+81%2024–2025
22LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Mar 2026

Developer of an AI platform for automating travel booking processes

Online travel
₹12.85 crFY 2024-25
+27%2024–2025
1LinkedIn · Jul 2026
1 yr2025
0none in 3 months

AI-powered clinical documentation solutions for healthcare

Healthcare it
₹10.71 crFY 2023-24
+375%2023–2024
98+3% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jul 2026

AI based data science platform for enterprises

Ai infrastructure
₹10.25 crFY 2024-25
+173%2024–2025
78+19% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Platform offering AI-based tools for data analysis, automation, and workflow support

Generative ai
₹9.16 crFY 2024-25
+37%2024–2025
37LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Developer of computer vision software for real-time operational intelligence

Manufacturing tech
₹8.16 crFY 2024-25
+46%2024–2025
67+18% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

AI-powered visual intelligence solutions for the beauty and personal care sector

Artificial intelligence
₹5.70 crFY 2024-25
-100%2024–2025
42-18% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Provider of AI augmented video intervieing platform for recruiters and enterprises

Hrtech
₹5.39 crFY 2024-25
+127%2024–2025
84recorded Sep 2024
3 yr2023
0none in 3 months

Provider of Gen AI-powered document processing and API services

Generative ai
₹5.15 crFY 2024-25
+70%2024–2025
13-17% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Artificial intelligence based predictive analytics solution provider

Business intelligence
₹4.83 crFY 2024-25
-17%2024–2025
50LinkedIn · Jul 2026
5 yr2021
0none in 3 months

AI-powered speech analytics solutions for enterprises

Natural language processing
₹3.81 crFY 2024-25
Not reported
90LinkedIn · Jul 2026
3 yr2023
0none in 3 months

Provider of AI and machine learning-based platform to improve dental treatment outcomes

Healthcare it
₹3.37 crFY 2024-25
Not reported
10LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Developer of natural language generation software for data and report automation

Business intelligence
₹3.07 crFY 2022-23
+15%2022–2023
8-92% 12 mo to Feb 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Developer of an AI copilot platform for law enforcement investigations

Generative ai
₹3.12 crFY 2024-25
-9%2024–2025
—Not available
3 yr2023
0none in 3 months

Provider of an AI-powered retail intelligence platform for inventory management

Scm software
₹2.94 crFY 2024-25
-37%2024–2025
—Not available
6 yr2020
0none in 3 months

Provider of voice artificial intelligence solutions for enterprise applications

Ai infrastructure
₹2.13 crFY 2024-25
+39%2024–2025
34-58% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of AI-powered video editing and workflow automation solutions

Video creation tools
₹1.93 crFY 2024-25
+939%2024–2025
23LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Jun 2026

Provider of AI agent infrastructure for enterprise workflow automation solutions

Agentic ai
₹1.90 crFY 2024-25
+171%2024–2025
23-26% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Cloud-based AI operating system that enables businesses to build and deploy customized AI agents and enterprise apps

Artificial intelligence
₹1.80 crFY 2024-25
+115%2024–2025
78-4% 12 mo to Sep 2024LinkedIn · Jul 2026
3 yr2023
0none in 3 months
50 of 164 companies shown here · the full list is on Radar
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Explore all 164 native ai companies in Mumbai on Radar

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Explore native AI companies in Mumbai by what you are looking for

Discover top AI native companies in India that are based in Mumbai, including AI native startups and AI native app builders. Browse examples of AI native companies grouped by what they build.

8 ways to explore native ai in Mumbai

Generative AI companies & AI infrastructureAI chatbots, voice & agent platformsAI marketing & sales toolsEnterprise AI, automation & analyticsComputer vision & image AI companiesHealthcare AI companies

Generative AI companies & AI infrastructure

Companies building generative AI tools, models and the infrastructure behind them.

  1. AmyGB

    Provider of Gen AI-powered document processing and API services

    Generative ai
    See in list
  2. CrimeOS

    Developer of an AI copilot platform for law enforcement investigations

    Generative ai
    See in list
  3. Cere Labs

    Provider of generative AI platforms and solutions for enterprise applications

    Big data analytics
    See in list
  4. Llamaworx

    Provider of AI-based solutions for businesses focusing on automating and enhancing operations through advanced technologies

    Agentic ai
    See in list
  5. Tensoic

    Provider of custom large language models, fine tuning, and inference

    Ai infrastructure
    See in list

AI chatbots, voice & agent platforms

Conversational AI, chatbots, voice assistants and AI agents for businesses.

  1. Scogo.ai

    Provider of no-code AI platform offering customer support

    Chatbots
    See in list
  2. Navana

    Provider of voice artificial intelligence solutions for enterprise applications

    Ai infrastructure
    See in list
  3. Plotch.ai

    Provider of AI agent infrastructure for enterprise workflow automation solutions

    Agentic ai
    See in list
  4. Owtobot.com

    Provider of AI chatbot solutions for businesses

    Customer service software
    See in list
  5. SubVerse

    AI based platform offering customer engagement solutions for businesses

    Chatbots
    See in list

AI marketing & sales tools

AI tools for lead generation, content creation and customer engagement.

  1. Netcore Cloud

    Provider of an AI-powered platform for customer engagement and marketing

    Customer success management
    See in list
  2. Zipteams

    Virtual selling platform for sales teams

    Sales force automation
    See in list
  3. Nexby

    Nexby is an AI-powered recruitment platform that leverages artificial intelligence to streamline and enhance the recruitment process, sales and exhibitions, ensuring efficiency and effectiveness

    Hrtech
    See in list
  4. Abun

    AI based content creation and SEO platform

    Marketingtech
    See in list
  5. REVENT

    Provider of AI platform converting documents into branded presentation slides

    Marketingtech
    Website

Enterprise AI, automation & analytics

AI platforms for document search, workflow automation, analytics and customer service.

  1. The Medius AI

    Artificial intelligence based predictive analytics solution provider

    Business intelligence
    See in list
  2. GreyLabs

    AI-powered speech analytics solutions for enterprises

    Natural language processing
    See in list
  3. vPhrase

    Developer of natural language generation software for data and report automation

    Business intelligence
    See in list
  4. Navana

    Provider of voice artificial intelligence solutions for enterprise applications

    Ai infrastructure
    See in list
  5. Plotch.ai

    Provider of AI agent infrastructure for enterprise workflow automation solutions

    Agentic ai
    See in list

Computer vision & image AI companies

AI for image recognition, photo editing, video analytics and surveillance.

  1. Qure.ai

    Provider of AI-powered solutions for medical image analysis and reporting

    Clinical labs it
    See in list
  2. Assert AI

    Developer of computer vision software for real-time operational intelligence

    Manufacturing tech
    See in list
  3. ShelfMonk AI

    Provider of an AI-powered retail intelligence platform for inventory management

    Scm software
    See in list
  4. Tessact

    Provider of AI-powered video editing and workflow automation solutions

    Video creation tools
    See in list
  5. Thelightbulb

    Provider of AI tools for market research and consumer insights

    Image recognition
    See in list

Healthcare AI companies

AI for diagnosis, clinical operations and patient care.

  1. Qure.ai

    Provider of AI-powered solutions for medical image analysis and reporting

    Clinical labs it
    See in list
  2. Augnito

    AI-powered clinical documentation solutions for healthcare

    Healthcare it
    See in list
  3. NeuralHive

    Provider of AI and machine learning-based platform to improve dental treatment outcomes

    Healthcare it
    See in list
  4. BioScan AI

    AI powered diagnostic solutions for non-invasive detection

    Computer vision
    Website
  5. Drishti AI

    AI powered eye care technology for diabetic eye diseases

    Healthcare it
    Website

Native AI startups in Mumbai

Recently founded AI native startups in Mumbai.

  1. Neysa

    Provider of AI acceleration cloud system with infrastructure and services

    Cloud infrastructure
    See in list
  2. Kentrix

    Platform offering AI-based tools for data analysis, automation, and workflow support

    Generative ai
    See in list
  3. The Medius AI

    Artificial intelligence based predictive analytics solution provider

    Business intelligence
    See in list
  4. GreyLabs

    AI-powered speech analytics solutions for enterprises

    Natural language processing
    See in list
  5. NeuralHive

    Provider of AI and machine learning-based platform to improve dental treatment outcomes

    Healthcare it
    See in list
99 companies in Mumbai

Native AI companies hiring in Mumbai

AI native companies in Mumbai with open roles right now.

  1. Netcore Cloud

    Provider of an AI-powered platform for customer engagement and marketing

    Customer success management
    See in list
  2. Qure.ai

    Provider of AI-powered solutions for medical image analysis and reporting

    Clinical labs it
    See in list
  3. Neysa

    Provider of AI acceleration cloud system with infrastructure and services

    Cloud infrastructure
    See in list
  4. Wright Research

    Developer of investment strategies and tools for portfolio management automation

    Investment tech
    See in list
  5. Augnito

    AI-powered clinical documentation solutions for healthcare

    Healthcare it
    See in list
14 companies in Mumbai
Mobile reach

Top 10 native ai apps from Mumbai

The most-installed Android apps published by native ai companies headquartered in Mumbai — 2.9M installs between them. 18 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Watermark Remover, Photo Video

by WatermarkRemover.io

Installs2.0M
Rating4.2124K ratings
Installs, year on year+86%
Last updatedApr 2026
View on Google Play ↗
Watermark Remover, Photo Video screenshot 1Watermark Remover, Photo Video screenshot 2Watermark Remover, Photo Video screenshot 3Watermark Remover, Photo Video screenshot 4Watermark Remover, Photo Video screenshot 5Watermark Remover, Photo Video screenshot 6
2

AI Photo Enhancer UpscaleMedia

by Upscale.media

Installs798K
Rating3.746K ratings
Installs, year on year+61%
Last updatedApr 2026
View on Google Play ↗
AI Photo Enhancer UpscaleMedia screenshot 1AI Photo Enhancer UpscaleMedia screenshot 2AI Photo Enhancer UpscaleMedia screenshot 3AI Photo Enhancer UpscaleMedia screenshot 4AI Photo Enhancer UpscaleMedia screenshot 5AI Photo Enhancer UpscaleMedia screenshot 6
3

Pixelbin: AI Photo Editor

by PixelBin

Installs39K
Rating4.5529 ratings
Last updatedMay 2026
View on Google Play ↗
Pixelbin: AI Photo Editor screenshot 1Pixelbin: AI Photo Editor screenshot 2Pixelbin: AI Photo Editor screenshot 3Pixelbin: AI Photo Editor screenshot 4Pixelbin: AI Photo Editor screenshot 5Pixelbin: AI Photo Editor screenshot 6
6

Qure.ai

by Qure.ai

Installs23K
Rating—
Last updatedJul 2024
View on Google Play ↗
Qure.ai screenshot 1Qure.ai screenshot 2Qure.ai screenshot 3Qure.ai screenshot 4
7

Augnito: Medical Dictation App

by Augnito

Installs15K
Rating—
Last updatedOct 2025
View on Google Play ↗
Augnito: Medical Dictation App screenshot 1Augnito: Medical Dictation App screenshot 2Augnito: Medical Dictation App screenshot 3Augnito: Medical Dictation App screenshot 4Augnito: Medical Dictation App screenshot 5Augnito: Medical Dictation App screenshot 6
8

OrboBeauty: Virtual Beauty App

by Orbo

Installs7K
Rating—
Last updatedSep 2025
View on Google Play ↗
OrboBeauty: Virtual Beauty App screenshot 1OrboBeauty: Virtual Beauty App screenshot 2OrboBeauty: Virtual Beauty App screenshot 3OrboBeauty: Virtual Beauty App screenshot 4
9

Taabi

by Taabi

Installs5K
Rating—
Last updatedMay 2026
View on Google Play ↗
Taabi screenshot 1Taabi screenshot 2Taabi screenshot 3Taabi screenshot 4Taabi screenshot 5Taabi screenshot 6
The business behind the activity

Native ai financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 47 native ai companies in Mumbai, Maharashtra for FY24-25 — 56 of the 164 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 91% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹1,216.12 cr

47 companies filing accounts

combined net profit−₹39.79 cr

-3.3% aggregate margin

are profitable43%

20 of 47 companies

median revenue~₹1.6 cr

the typical company

median revenue growth+53%

into FY24-25

earned by the top five91%

revenue concentration

Six-year view

Combined revenue of filing companies

₹24.10 crFY19-2018 filers
₹68.90 crFY20-2123 filers
₹208.43 crFY21-2225 filers
₹528.61 crFY22-2331 filers
₹967.24 crFY23-2436 filers
₹1,216.12 crFY24-2547 filers

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

Like-for-like

The same 25 companies over three years

-15%
FY22-23₹441.76 cr−₹26.84 cr net
FY23-24₹222.54 cr−₹38.86 cr net
FY24-25₹374.48 cr−₹27.90 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 cr2138% profitable
₹1–10 cr1833% profitable
₹10–100 cr683% 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

Shrinking7
0–20%3
20–50%6
50–100%6
Doubled+11

33 companies with accounts for both years; median growth +53%.

Profitability

Profit is concentrated at the top

20profitable
27loss-making
-3.3%aggregate margin
-4.0%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
Data Science WizardsDATA SCIENCE WIZARDS PRIVATE LIMITED+185%₹10.16 cr
BaggageAISHREE A3 BAGGAGE PRIVATE LIMITED+174%₹60.92 cr
Wright ResearchWRYGHT RESEARCH & CAPITAL PRIVATE LIMITED+81%₹14.90 cr
Upscale.mediaSHOPSENSE RETAIL TECHNOLOGIES LIMITED₹200.24 cr
Scogo.aiSCOGO NETWORKS PRIVATE LIMITED+30%₹18.69 cr
SamyagVARANK TECH PRIVATE LIMITED+27%₹12.85 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Wright ResearchWRYGHT RESEARCH & CAPITAL PRIVATE LIMITED19.3%₹14.90 cr
SamyagVARANK TECH PRIVATE LIMITED14.1%₹12.85 cr
Data Science WizardsDATA SCIENCE WIZARDS PRIVATE LIMITED10.2%₹10.16 cr
BaggageAISHREE A3 BAGGAGE PRIVATE LIMITED10.1%₹60.92 cr
Netcore CloudNetcore Private Limited6.3%₹809.69 cr
Scogo.aiSCOGO NETWORKS PRIVATE LIMITED1.8%₹18.69 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Generative ai5₹17.90 cr~₹3.1 cr80%7.2%
Leaders

Largest native ai companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Netcore CloudNetcore Private Limited₹809.69 cr₹50.75 cr6.3%+10%
Upscale.mediaSHOPSENSE RETAIL TECHNOLOGIES LIMITED₹200.24 cr-13.4%
BaggageAISHREE A3 BAGGAGE PRIVATE LIMITED₹60.92 cr₹6.16 cr10.1%+174%
NeysaNEYSA NETWORKS PRIVATE LIMITED₹21.21 cr−₹54.85 cr-258.5%>10×
Scogo.aiSCOGO NETWORKS PRIVATE LIMITED₹18.69 cr₹34.02 lakh1.8%+30%
Wright ResearchWRYGHT RESEARCH & CAPITAL PRIVATE LIMITED₹14.90 cr₹2.88 cr19.3%+81%
SamyagVARANK TECH PRIVATE LIMITED₹12.85 cr₹1.82 cr14.1%+27%
Data Science WizardsDATA SCIENCE WIZARDS PRIVATE LIMITED₹10.16 cr₹1.04 cr10.2%+185%
KentrixKENTRIX.AI PRIVATE LIMITED₹9.16 cr₹1.65 cr18.0%+37%
Assert AIASSERT SECURETECH PRIVATE LIMITED₹6.01 cr−₹9.31 cr-155.0%+23%
Some figures are available to Radar members.Log in to Radar to see every figure

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

Industry landscape report

AdTech Industry Landscape of Mumbai

The financials above are one chapter. The full native ai 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 native ai 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

Native ai funding and M&A across India

909 recorded equity rounds have gone to 2,113 native ai 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 months44

US$726.30m

equity rounds, last 24 months145

US$1.00bn

raised over five yearsUS$1.90bn

573 rounds in India

M&A deals, India16

last 24 months

Capital by year

Equity funding into native ai in India

amount rounds
$63m201860
$61m201969
$86m202085
$173m202197
$258m2022127
$163m202386
$340m2024130
$278m2025107
$690m202626

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2024, with US$339.86m across 130 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$11.06m75 rounds · median US$99k
SeedUS$411.90m394 rounds · median US$500k
Series AUS$484.13m78 rounds · median US$5.00m
Series BUS$878.22m19 rounds · median US$16.70m
Series CUS$51.85m6 rounds · median US$3.93m
Series D+US$65.00m1 rounds · median US$65.00m
Where the money went · five years

Most-funded sub-sectors

Cloud infrastructureUS$650.00m3 rounds · 1 companies
Ai infrastructureUS$241.64m56 rounds · 30 companies
Artificial intelligenceUS$122.36m40 rounds · 19 companies
Clinical labs itUS$106.69m4 rounds · 1 companies
Customer service softwareUS$81.68m19 rounds · 9 companies
Generative aiUS$73.27m61 rounds · 36 companies
Road transport techUS$61.40m9 rounds · 3 companies
Corporate activity · last 24 months

M&A in India

16Acquisition

Most active acquirers

  1. Blackstone3
  2. Thermax2
  3. Krutrim2
  4. Exotel1
  5. C5i1

Most acquired or merged

  1. Neysa5
  2. Exactspace2
  3. Dubverse1
  4. Datavid1
  5. Myelin foundry1

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

Native ai funding in Mumbai

22 native ai companies in Mumbai have recorded equity funding, US$818.75m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind native ai companies in Mumbai. 109 of 164 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai native ai companies by sub-sector

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

Keep exploring native ai in India and nearby markets.

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