Company lists
The Mumbai edition · 2026

Startupcompanies in Mumbai

Fashion & beauty, investment, marketing & media, IT & HR tech, professional services and more: the companies building startup in Mumbai, Maharashtra, with their founders, funding, team size and business models.

18,254 company profiles5,068 with reported revenue1,410 with recorded fundingSeptember 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent startup business events in Mumbai

Funding, M&A, contract wins and launches involving 41,743 startups in Mumbai, last 24 months: 1764 M&A deals · 1595 Contracts · 601 funding rounds · 419 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Completed

Creative group acquires Yogosha

This company is involved in intertwining tests (pentests), security audits, bug bounty and identification of computer vulnerabilities. It was bought by Creative Group at the court's helm…

Cybersecurity
M&AAcquisition · Announced

True north acquires Cloudnine

True North looks to sell Cloudnine stake

Healthcare - fertility and maternity care
FundingFinancing

Avaada group

Renewable energy company Avaada Group has secured $950 million in financing from a consortium of global and domestic banks for renewable energy projects in India.

Renewable energy
ContractService

BigTrunk Communications · client: Velvex

BigTrunk Communications has added another marquee account to its roster, securing the national digital and social media mandate for Velvex, the lubricant brand owned by Nandan Petrochem…

Advertising
ContractInfrastructure

Bajel Projects · client: Datacenter Client

Bajel Projects has received a mega EPC contract from Datacenter Client (Mumbai) for design, engineering, procurement, supply, erection, testing, commissioning and performance testing of…

Power infrastructure
M&AAcquisition · Completed

Life insurance corporation of india acquires NHPC

Life Insurance Corporation of India (LIC) has increased its holding in state-owned hydropower major NHPC Ltd by acquiring a 0.76 per cent stake through open market transactions on June…

Hydropower
ContractService

BigTrunk Communications · client: Nandan Petrochem

BigTrunk Communications, an independent integrated advertising agency known for its data-driven and creative approach, has secured the national digital and social media mandate for…

Advertising
ContractService

Asml · client: Tata electronics

Tata Electronics signed a landmark Memorandum of Understanding with ASML, the world’s most critical supplier of advanced lithography systems that underpin modern semiconductor manufacturing.

Semiconductor
ContractInfrastructure

Afcons · client: Na

Afcons has secured a contract worth Rs 53.01 billion (bn), equivalent to Rs 5,301 crore, to build the main breakwater at Vadhavan Port near Mumbai.

Port Infrastructure
M&AAcquisition · Announced

True north acquires Embio

According to reports, True North invested about INR 478 crores to acquire a 25 percent stake in Embio.

Pharmaceuticals
LaunchUnite8 Sports

Zee entertainment enterprises

Zee Entertainment Enterprises has launched its Unite8 Sports television network.

Television network
ContractSupply

John Cockerill India · client: JSW Vijayanagar Metallics

John Cockerill India, along with its wholly owned subsidiary -- John Cockerill Metal International SA (JCMI), has secured a contract from JSW Vijayanagar Metallics. The contract involves…

Metallics
M&AAcquisition · Announced

Aditya birla group acquires Sprng energy

According to sources to Manicontrol, after collecting binding bids, Aditya Birla Group, led by Kumar Mangalum Birla, has taken the lead in the race to buy Indian Renewable Energy…

Renewable Energy
M&AAcquisition · Announced

Vibrant global capital acquires Private Reserve Capital Private Limited

Vibrant Global Capital Limited has approved a ₹60 million cash acquisition of an equity stake in Private Reserve Capital Private Limited.

Financial consultancy
FundingProject Investment

Tata electronics

The agreement is central to Tata Electronics' proposed semiconductor fabrication facility in Dholera, Gujarat, envisioned as part of India's first greenfield semiconductor city. With an…

Investors Tata, Powerchip
Semiconductor
ContractService

DENTSU INDIA · client: Tata group

DENTSU INDIA has secured the integrated media mandate for the Indian Premier League campaigns of multiple Tata Group companies, including Tata Motors, Voltas, TATA AIG, CaratLane, and…

Media
ContractService

Eleganz interiors · client: M3M Altitude at Golfestate

Eleganz Interiors Limited, one of India's foremost Design & Build, interior fit-out and general contracting companies, has announced a landmark project win at M3M Altitude at Golfestate,…

Real Estate
LaunchTata Neu

Tata digital

Among the most ambitious attempts is Tata Neu, the super app developed by Tata Digital. Launched to unify the Tata Group's consumer businesses under one platform, Tata Neu combines…

Super App
ContractSupply

DEE Development Engineers · client: Bharat Petroleum

The contracts include a INR 386.83 crore order from Bharat Petroleum Corporation (BPCL) for the manufacturing and supply of piping systems

Energy
ContractSupply

Transrail lighting · client: Na

Transrail Lighting, a leading engineering, procurement and construction (EPC) company, has secured fresh orders worth ₹575 crore, further strengthening its presence across the…

Infrastructure
ContractSupply

Hirschvogel Components · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Hoganäs India Private Limited · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Paras defence & space technologies · client: DRDO, Ministry of Defence

Earlier, on April 30, the company received an order worth approximately ₹7.72 crore (inclusive of taxes) from DRDO, Ministry of Defence, for the development of Ku/C-band satellite…

Defence
LaunchAgentverse™

Hexaware technologies

Hexaware Technologies, a global provider of IT solutions and services, announced on June 2nd, 2026, new enhancements to its enterprise AI agent platform, Agentverse™.

Enterprise AI agent platform
LaunchChassis seal

Parker hannifin

Parker Hannifin's Chomerics division has launched a new chassis seal designed to support advanced cooling and reliability requirements in defence and aerospace electronics.

Defence and aerospace electronics
M&AAcquisition · Announced

Mirae asset mutual fund acquires Equitas small finance bank

It has informed that the Reserve Bank of India has granted approval to Mirae Asset Mutual Fund to acquire a stake of up to 9.5% in the bank's paid-up capital or voting rights.

Banking
LaunchReverse Mentoring

K raheja corp

K Raheja Corp, one of India's leading real estate conglomerates, has launched 'Reverse Mentoring', a people-focused learning initiative designed to encourage meaningful dialogue between…

Learning and Development
LaunchAI-powered Gold Purity Evaluation Machine

Augmont

Augmont has launched an AI-powered Gold Purity Evaluation Machine at its Poonamallee Gold Loan branch in Chennai, Tamil Nadu, as part of its efforts to digitize and streamline gold…

Gold Loan / Gold Assessment
M&AAcquisition · Completed

Tata motors limited acquires Freight tiger

Tata Motors Limited has increased its stake in Freight Commerce Solutions Private Limited (Freight Tiger) to ~ 63% through purchase of different classes of shares from three selling…

Logistics and Transportation

Startup companies in Mumbai, by revenue

Browse startups 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 5,068 startups 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 electronics manufacturing and fabrication, offering precision electronic components to various industries

Semiconductor design and manufacturing services
₹66,600.60 crFY 2024-25
+1652%2024–2025
18,834LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Manufacturer & exporter of coated steel sheets products for roofing

Building materials
₹34,517.38 crFY 2024-25
+1%2024–2025
2,301-6% 12 mo to Nov 2023recorded Nov 2023
10 yr2016
0none in 3 months

Provider of integrated digital ecosystem and financial services platform

Horizontal e-commerce
₹32,187.54 crFY 2024-25
+5%2024–2025
835-10% 12 mo to Mar 2024recorded Mar 2024
7 yr2019
0none in 3 months · last posted Feb 2026

Company focusing on consumer healthcare products

Traditional nutraceuticals
₹28,409.49 crFY 2024-25
+7%2024–2025
2,258+20% vs previous recordLinkedIn · Jul 2026
11 yr2015
0none in 3 months

Provider of media broadcasting services

Film & tv studios
₹21,871.00 crFY 2024-25
+7%2024–2025
2,421LinkedIn · Jul 2026
2 yr2024
32postings · last posted Sep 2026

Chain of pathology laboratory centers

Clinical laboratory chains
₹16,715.02 crFY 2022-23
Not reported
395+53% vs previous recordrecorded
5 yr2021
3postings · 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

Provider of wireless telecommunication infrastructure services

Telecom infrastructure
₹13,729.00 crFY 2024-25
+7%2024–2025
74-1% 12 mo to Jun 2024LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Online platform for investing in high yield bonds

Investment tech
₹9,062.92 crFY 2024-25
+133%2024–2025
—Not available
5 yr2021
0none in 3 months

Retailer of apparel, accessories, beauty products, home décor, and tech

Fashion tech
₹7,977.08 crFY 2024-25
+24%2024–2025
547-75% 12 mo to Aug 2023recorded Aug 2023
14 yr2012
1postings · last posted Sep 2026

Brand offering multi category oil, bakery and seasonings products

Food & beverage products
₹6,949.78 crFY 2024-25
+26%2024–2025
505LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Online sports travel and experience booking platform

Sports tech
₹6,580.84 crFY 2022-23
Not reported
102+6% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Provider of a digital platform for buying, selling, and storing 24K gold

Investment tech
₹6,867.10 crFY 2024-25
Not reported
63+10% 12 mo to Sep 2024recorded Sep 2024
9 yr2017
3postings · last posted Sep 2026

Provider of cloud, security, IT asset management, and other services

It services
₹6,791.08 crFY 2024-25
+19%2024–2025
364LinkedIn · Jul 2026
4 yr2022
12postings · last posted Sep 2026

Provider of streaming service for television shows, movies, and sports

Ott video
₹6,459.43 crFY 2024-25
-4%2024–2025
1,287+3% 12 mo to Aug 2024recorded Aug 2024
13 yr2013
0none in 3 months

Digital healthcare management tool

Healthcare booking platforms
₹5,980.03 crFY 2024-25
Not reported
476+183% 12 mo to Sep 2024LinkedIn · Jul 2026
14 yr2012
4postings · last posted Jul 2026

Provider of engaging educational application

K-12 edtech
₹5,299.86 crFY 2024-25
-34%2024–2025
2,564+13% 12 mo to May 2024recorded May 2024
10 yr2016
0none in 3 months

Precious metals investment platform for individuals

Investment tech
₹4,973.88 crFY 2024-25
+38%2024–2025
—Not available
3 yr2023
0none in 3 months

Steel processing company

Auto components
₹4,564.94 crFY 2023-24
+9%2023–2024
750recorded
9 yr2017
0none in 3 months

Provider of passenger airlines and aviation services

Passenger airlines
₹4,635.68 crFY 2024-25
+47%2024–2025
3,536+26% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
7postings · last posted Aug 2026

Provider of business consulting and staffing services

Management consulting services
₹4,478.27 crFY 2024-25
+21%2024–2025
27+38% 12 mo to Aug 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

Integrated platform for wealth management and financial advisory

Investment tech
₹4,169.31 crFY 2024-25
+32%2024–2025
2,949+21% 12 mo to Aug 2024recorded Aug 2024
4 yr2022
0none in 3 months

Actuarial and consulting firm

Insurance risk management
₹4,103.92 crFY 2024-25
Not reported
5+27% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Jun 2026

Provider of construction management & development and home designing services

Construction contractors
₹3,983.39 crFY 2024-25
+180%2024–2025
688+44% 12 mo to Sep 2024recorded Sep 2024
5 yr2021
0none in 3 months

Internet first brand offering multi-category consumer electronic products

Consumer electronics e-commerce
₹3,403.18 crFY 2022-23
Not reported
469-2% 12 mo to Sep 2024recorded Sep 2024
8 yr2018
—No postings tracked
50 of 18,254 companies shown here · the full list is on Radar
Fliar Radar

Explore all 18,254 startups in Mumbai on Radar

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

Open startup in Mumbai on Radar
  • Every company, not just 50All 18,254 startups 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.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore startups in Mumbai by what you are looking for

Mumbai startups range across fashion, investment, media and IT services, reflecting the city's role as India's financial and entertainment capital. Browse startup companies in Mumbai by sector, or filter for newly founded startups and startups hiring in Mumbai.

9 ways to explore startup in Mumbai

Fashion & beauty tech companiesInvestment & wealth management platformsMarketing & media companiesIT services & HR tech companiesProfessional & advisory servicesGrocery & consumer e-commerce companies

Fashion & beauty tech companies

Online fashion brands, apparel retailers and beauty product platforms.

  1. Nykaa Fashion

    Retailer of apparel, accessories, beauty products, home décor, and tech

    Fashion tech
    See in list
  2. Purplle

    Brand of beauty and cosmetic products

    Beauty tech
    See in list
  3. MyGlamm

    Platform for beauty and personal care products

    Beauty & personal care products
    Website
  4. The Souled Store

    Online retailer offering licensed pop culture apparel, accessories, and lifestyle products

    Fashion tech
    Website
  5. Purple Style Labs

    Chains providing curated luxury fashion

    Fashion tech
    Website

Investment & wealth management platforms

Firms and platforms for asset management, trading and venture capital.

  1. 24Carat Capital Markets

    Online platform for investing in high yield bonds

    Investment tech
    See in list
  2. SPN Gold

    Precious metals investment platform for individuals

    Investment tech
    See in list
  3. Nuvama

    Integrated platform for wealth management and financial advisory

    Investment tech
    See in list
  4. Bullion India

    Alternative investment platform for silver & gold

    Investment tech
    See in list
  5. Raise

    Developer of financial service products and infrastructure for Indian residents

    Investment tech
    Website

Marketing & media companies

Digital marketing agencies, ad-tech platforms and media studios.

  1. Jiostar

    Provider of media broadcasting services

    Film & tv studios
    See in list
  2. Wondrlab

    Provider of marketing and digital transformation solutions for businesses

    Marketingtech
    Website
  3. IndiaCast Media Distribution

    Provider of content distribution and syndication services for Indian television channels

    Film & tv studios
    Website
  4. Hyperlink Brand Solutions

    Provider of brand solutions including experiential marketing, content, and event management

    Marketing services
    Website
  5. Frootle

    Provider of business solutions for global brands in India.

    Marketing services
    Website

IT services & HR tech companies

Technology consulting, IT services and workforce management platforms.

  1. Core Integra Consulting Services

    Provider of labor law compliance and other HR solutions

    Hr services
    Website
  2. Novho

    Provider of HR consulting services

    Hr services
    Website
  3. Willard Industries

    Provider of networking, finance, technology, and HR services

    Management consulting services
    Website
  4. Obox HR

    Provider of end to end HR services

    Bpo services
    Website
  5. Chemtrols Infotech

    Provider of IT services and solutions

    It services
    Website

Professional & advisory services

Consulting, legal and accounting firms serving businesses.

  1. First Meridian

    Provider of business consulting and staffing services

    Management consulting services
    See in list
  2. The Guardians

    Provider of real estate consulting services

    Management consulting services
    Website
  3. Jarvis Technology & Strategy Consulting

    Provider of strategy consulting services

    Management consulting services
    Website
  4. Uniqus

    Provider of accounting, risk, governance, environmental, social, and technology consulting

    Management consulting services
    Website
  5. Fluidscapes

    Provider of business consulting, brand management, and other services

    Marketing services
    Website

Grocery & consumer e-commerce companies

Online grocery delivery, food brands and B2B e-commerce platforms.

  1. Zepto

    Application-based platform offering on demand grocery delivery service

    Online grocery
    See in list
  2. The Brooklyn Creamery

    Internet first brand of ice-cream

    Food & beverage products
    Website
  3. CocoCart

    Online retailer of imported chocolates, candies, gums, and protein bars

    Online grocery
    Website
  4. DukaanDost

    Online B2B platform offering raw materials for fashion businesses

    Fashion tech
    Website
  5. StarQuik

    Online platform offering multi-category grocery supplies

    Online grocery
    Website

Healthcare & wellness startups

Platforms for healthcare booking, diagnostics and telehealth.

  1. API Holdings

    Digital healthcare management tool

    Healthcare booking platforms
    See in list
  2. Medikabazaar

    Online marketplace for medical supplies, equipment, and devices catering to healthcare providers

    Healthcare it
    Website
  3. HealthAssure

    Provider of healthcare plans offering access to doctors and diagnostic centers

    Healthcare booking platforms
    Website
  4. EPC Tech

    Digital business management and marketing platform for doctors

    Healthcare it
    Website
  5. Illusion Aligners

    Online platform to find Illusion verified dental clinics

    Healthcare booking platforms
    Website

New startups in Mumbai

Recently founded startups building new products and businesses in Mumbai.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. 24Carat Capital Markets

    Online platform for investing in high yield bonds

    Investment tech
    See in list
  3. JSW One Homes

    Provider of construction management & development and home designing services

    Construction contractors
    See in list
  4. Humbing Ethicals

    Pharmaceutical company specializes in the manufacture and supply of a variety of medicinal products

    Traditional pharmaceuticals
    See in list
  5. Svgfashions

    Vertically integrated manufacturer of polyester knit textiles and garments

    Manufacturing services
    Website
3914 companies in Mumbai

Startups hiring in Mumbai

Startups in Mumbai that are actively hiring for open roles.

  1. Tata Digital

    Provider of integrated digital ecosystem and financial services platform

    Horizontal e-commerce
    See in list
  2. Jiostar

    Provider of media broadcasting services

    Film & tv studios
    See in list
  3. Lupin Diagnostics

    Chain of pathology laboratory centers

    Clinical laboratory chains
    See in list
  4. Nykaa Fashion

    Retailer of apparel, accessories, beauty products, home décor, and tech

    Fashion tech
    See in list
  5. SafeGold

    Provider of a digital platform for buying, selling, and storing 24K gold

    Investment tech
    See in list
64 companies in Mumbai
Mobile reach

Top 10 startup apps from Mumbai

The most-installed Android apps published by startups headquartered in Mumbai — 1571.4M installs between them. 1,710 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

ZEE5: Movies, TV Shows, Series

by Zee5

Installs407.3M
Rating4.052.9M ratings
Installs, year on year+15%
Last updatedJun 2026
View on Google Play ↗
ZEE5: Movies, TV Shows, Series screenshot 1ZEE5: Movies, TV Shows, Series screenshot 2ZEE5: Movies, TV Shows, Series screenshot 3ZEE5: Movies, TV Shows, Series screenshot 4ZEE5: Movies, TV Shows, Series screenshot 5ZEE5: Movies, TV Shows, Series screenshot 6
2

Sony LIV: Series, Shows, Movie

by SonyLIV

Installs330.7M
Rating3.212.0M ratings
Last updatedMay 2026
View on Google Play ↗
Sony LIV: Series, Shows, Movie screenshot 1Sony LIV: Series, Shows, Movie screenshot 2Sony LIV: Series, Shows, Movie screenshot 3Sony LIV: Series, Shows, Movie screenshot 4Sony LIV: Series, Shows, Movie screenshot 5Sony LIV: Series, Shows, Movie screenshot 6
3

Kuku FM: Audio Series

by Kuku FM

Installs140.8M
Rating4.321.5M ratings
Installs, year on year+36%
Last updatedJun 2026
View on Google Play ↗
Kuku FM: Audio Series screenshot 1Kuku FM: Audio Series screenshot 2Kuku FM: Audio Series screenshot 3Kuku FM: Audio Series screenshot 4Kuku FM: Audio Series screenshot 5Kuku FM: Audio Series screenshot 6
4

Zepto: Groceries in minutes

by Zepto

Installs133.8M
Rating4.664.5M ratings
Installs, year on year+35%
Last updatedJun 2026
View on Google Play ↗
Zepto: Groceries in minutes screenshot 1Zepto: Groceries in minutes screenshot 2Zepto: Groceries in minutes screenshot 3Zepto: Groceries in minutes screenshot 4Zepto: Groceries in minutes screenshot 5Zepto: Groceries in minutes screenshot 6
5

JioMart Online Shopping App

by JioMart

Installs119.2M
Rating4.292.4M ratings
Installs, year on year+38%
Last updatedJun 2026
View on Google Play ↗
JioMart Online Shopping App screenshot 1JioMart Online Shopping App screenshot 2JioMart Online Shopping App screenshot 3JioMart Online Shopping App screenshot 4
6

Status, Sticker Saver

by Lazy Geniouz

Installs117.3M
Rating4.27722K ratings
Installs, year on year+4%
Last updatedApr 2026
View on Google Play ↗
Status, Sticker Saver screenshot 1Status, Sticker Saver screenshot 2Status, Sticker Saver screenshot 3Status, Sticker Saver screenshot 4Status, Sticker Saver screenshot 5Status, Sticker Saver screenshot 6
7

Purplle Online Beauty Shopping

by Purplle

Installs86.8M
Rating3.58347K ratings
Installs, year on year+41%
Last updatedMay 2026
View on Google Play ↗
Purplle Online Beauty Shopping screenshot 1Purplle Online Beauty Shopping screenshot 2Purplle Online Beauty Shopping screenshot 3Purplle Online Beauty Shopping screenshot 4Purplle Online Beauty Shopping screenshot 5Purplle Online Beauty Shopping screenshot 6
8

StreamKar - Live Stream & Chat

by StreamKar

Installs85.0M
Rating3.96206K ratings
Installs, year on year+5%
Last updatedJun 2026
View on Google Play ↗
StreamKar - Live Stream & Chat screenshot 1StreamKar - Live Stream & Chat screenshot 2StreamKar - Live Stream & Chat screenshot 3StreamKar - Live Stream & Chat screenshot 4StreamKar - Live Stream & Chat screenshot 5StreamKar - Live Stream & Chat screenshot 6
9

JioChat Messenger & Video Call

by Jiochat

Installs79.6M
Rating4.14507K ratings
Installs, year on year+2%
Last updatedMar 2026
View on Google Play ↗
JioChat Messenger & Video Call screenshot 1JioChat Messenger & Video Call screenshot 2JioChat Messenger & Video Call screenshot 3JioChat Messenger & Video Call screenshot 4JioChat Messenger & Video Call screenshot 5JioChat Messenger & Video Call screenshot 6
10

Nykaa Fashion – Shopping App

by Nykaa Fashion

Installs70.9M
Rating4.73301K ratings
Installs, year on year+31%
Last updatedMay 2026
View on Google Play ↗
Nykaa Fashion – Shopping App screenshot 1Nykaa Fashion – Shopping App screenshot 2Nykaa Fashion – Shopping App screenshot 3Nykaa Fashion – Shopping App screenshot 4Nykaa Fashion – Shopping App screenshot 5Nykaa Fashion – Shopping App screenshot 6
The business behind the activity

Startup financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 4545 startups in Mumbai, Maharashtra for FY24-25 — 5,903 of the 18,254 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 29% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹335,034.36 cr

4545 companies filing accounts

combined net profit−₹4,664.45 cr

-1.4% aggregate margin

are profitable57%

2576 of 4545 companies

median revenue~₹3.8 cr

the typical company

median revenue growth+21%

into FY24-25

earned by the top five29%

revenue concentration

Six-year view

Combined revenue of filing companies

₹120,980.39 crFY19-203222 filers
₹128,136.70 crFY20-213700 filers
₹194,869.40 crFY21-224093 filers
₹254,108.06 crFY22-234524 filers
₹328,384.40 crFY23-244736 filers
₹335,034.36 crFY24-254545 filers

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

Like-for-like

The same 3779 companies over three years

+52%
FY22-23₹200,284.63 cr−₹12,654.11 cr net
FY23-24₹253,721.93 cr−₹7,141.13 cr net
FY24-25₹304,829.73 cr−₹4,575.83 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 cr144131% profitable
₹1–10 cr148160% profitable
₹10–100 cr123876% profitable
₹100–1,000 cr34579% profitable
Over ₹1,000 cr4075% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking1304
0–20%783
20–50%789
50–100%570
Doubled+770

4216 companies with accounts for both years; median growth +21%.

Profitability

Profit is concentrated at the top

2576profitable
1961loss-making
-1.4%aggregate margin
0.8%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
Aakar InnovationsAAKAR INNOVATIONS PRIVATE LIMITED+964%₹22.95 cr
InCred MoneyAlpha Fintech Private Limited+898%₹49.74 cr
Synergy Global LogisticsSYNERGY GLOBAL LOGISTICS PRIVATE LIMITED+862%₹42.33 cr
SolencoSOLENCO INFRA PRIVATE LIMITED₹51.49 cr
BoojeeBOOJEE CAFE PRIVATE LIMITED
DemeDEMEBYGABRIELLA FASHION PRIVATE LIMITED+819%₹18.51 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Purple TutorPURPLEFIRST TECHNOLOGIES PRIVATE LIMITED
LissenGREAT PLACE RESEARCH AND CONSULTANCY PRIVATE LIMITED82.2%
AequitasAEQUITAS INVESTMENT CONSULTANCY PRIVATE LIMITED71.6%₹491.96 cr
Invicta CapservINVICTA CAPSERV PRIVATE LIMITED70.0%
NeoMile CapitalNeomile Corporate Advisory Limited69.5%₹232.77 cr
AquacentricAQUA CENTRIC PRIVATE LIMITED64.4%₹30.93 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Building materials23₹36,974.20 cr~₹37.6 cr83%1.6%
Investment tech155₹31,632.68 cr~₹2.9 cr51%-0.5%
Traditional nutraceuticals12₹20,188.99 cr~₹4.1 cr58%25.6%
Electric vehicles35₹15,539.62 cr~₹37 lakh26%0.4%
Food & beverage products92₹9,850.94 cr~₹4.8 cr43%0.0%
Ott video20₹8,298.71 cr~₹4.8 cr65%6.5%
Manufacturing services59₹7,364.60 cr~₹33.0 cr97%3.2%
It services87₹6,404.58 cr~₹8.2 cr86%2.2%
Leaders

Largest startups by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
JSW SteelJSW STEEL COATED PRODUCTS LIMITED₹34,517.38 cr₹489.73 cr1.4%+1%
Cipla HealthCipla Limited₹20,029.57 cr₹5,157.65 cr25.8%+14%
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED₹15,247.00 cr₹95.00 cr0.6%+47%
Summit DigitelSummit Digitel Infrastructure Limited₹13,729.00 cr−₹2,995.20 cr-21.8%+7%
Mondelez India FoodsMONDELEZ INDIA FOODS PRIVATE LIMITED₹12,601.65 cr-9%
24Carat Capital Markets24CARAT CAPITAL MARKETS PRIVATE LIMITED₹9,062.92 cr₹2.25 cr0.0%+133%
Frigorifico AllanaFRIGORIFICO ALLANA PRIVATE LIMITED₹6,949.78 cr₹90.36 cr1.3%+26%
SafeGoldDIGITAL GOLD INDIA PRIVATE LIMITED₹6,795.25 cr−₹10.67 cr-0.2%+11%
SonyLIVCULVER MAX ENTERTAINMENT PRIVATE LIMITED₹6,338.39 cr₹456.47 cr7.2%-5%
SPN GoldSPN GOLD & PRECIOUS METALS (INDIA) PRIVATE LIMITED₹4,973.88 cr₹97.00 lakh0.0%+38%
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 startup 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 startup 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

Startup funding and M&A across India

37,239 recorded equity rounds have gone to 336,782 startups 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 months1111

US$9.79bn

equity rounds, last 24 months3681

US$24.99bn

raised over five yearsUS$121.75bn

17,208 rounds in India

M&A deals, Mumbai1764

last 24 months

Capital by year

Equity funding into startup in India

amount rounds
$15bn20182493
$19bn20192842
$37bn20202774
$38bn20213915
$29bn20224039
$16bn20233121
$17bn20243117
$15bn20252377
$6.6bn2026639

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$37.99bn across 3915 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$1.16bn2,889 rounds · median US$111k
SeedUS$9.20bn9,663 rounds · median US$464k
Series AUS$16.95bn2,388 rounds · median US$4.09m
Series BUS$16.36bn1,023 rounds · median US$10.65m
Series CUS$14.69bn500 rounds · median US$21.22m
Series D+US$45.54bn619 rounds · median US$30.12m
Private equityUS$7.52bn90 rounds · median US$52.32m
Where the money went · five years

Most-funded sub-sectors

Horizontal e-commerceUS$5.93bn74 rounds · 36 companies
Electric vehiclesUS$5.50bn455 rounds · 172 companies
Online groceryUS$5.35bn517 rounds · 186 companies
PaymentsUS$4.90bn273 rounds · 124 companies
Alternative lendingUS$4.87bn515 rounds · 228 companies
Consumer and sme loansUS$4.12bn189 rounds · 83 companies
Solar energyUS$3.38bn122 rounds · 64 companies
Corporate activity · last 24 months

M&A in Mumbai

1596Acquisition
150Merger
4Undisclosed

Most active acquirers

  1. Nazara technologies37
  2. Ambuja cements35
  3. Na27
  4. Jsw group23
  5. Zaggle Prepaid Ocean Services23

Most acquired or merged

  1. Rajasthan royals37
  2. Yes bank18
  3. Vip industries14
  4. Rbl bank11
  5. Na11

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

Startup funding in Mumbai

1,410 startups in Mumbai have recorded equity funding, US$18.50bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind startups in Mumbai. 8,252 of 18,254 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai startups by sub-sector

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

Keep exploring startup in India and nearby markets.

Coming soon