Company lists
The Vadodara edition · 2026

Startupcompanies in Vadodara

IT & software, marketing, pharma & healthcare, fashion & D2C, energy & industry and more: the companies building startup in Vadodara, Gujarat, with their founders, funding, team size and business models.

1,290 company profiles294 with reported revenue23 with recorded fundingSeptember 2026 edition
Vadodara · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent startup business events in Vadodara

Funding, M&A, contract wins and launches involving 2,802 startups in Vadodara, last 24 months: 65 Contracts · 35 M&A deals · 9 launches · 4 funding rounds. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Zeochem acquires Swambe chemicals

Zeochem, the chemistry division of the CPH Group, acquires Sorbead India and Swambe Chemicals.

Chromatography gels
M&AAcquisition · Announced

Zeochem acquires Sorbead india

Zeochem, the chemistry division of the CPH Group, acquires Sorbead India and Swambe Chemicals.

Molecular sieves and packaging materials
M&AAcquisition · Completed

Agrawal family acquires INEOS Styrolution India

Agrawal family, who had originally founded the company in 1973, bought back INEOS Styrolution India at ₹849 per share from its global parent.

LaunchBob SAMVAD

Bank of baroda

Bank of Baroda (Bank) unveiled its bob SAMVAD, which was formally launched by M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance in Mumbai on March 28, 2026.

ContractSupply

Diamond Power Infrastructure Ltd · client: Gujarat energy transmission

Diamond Power Infrastructure Ltd (DPIL) has secured a significant order from Gujarat Energy Transmission Company Ltd (GETCO) for the supply of 66 kV Extra High Voltage (EHV) power…

Power transmission
M&AAcquisition · Completed

Waaree energies acquires Associated power structures

Over the past year, the company directly or through its subsidiaries acquired a majority stake in transformer manufacturer Kotsons Pvt Ltd, transmission towers maker Associated Power…

Transmission Towers
M&AAcquisition · Announced

AMI Paradigm Solutions Private Limited acquires L&t technology services

AMI Paradigm Solutions Private Limited (AMIPS), promoted by the AM Group and ParadigmIT Services Technology Private Limited, on Thursday announced the signing of a binding agreement to…

Engineering Services
ContractSupply

Shaily engineering plastics · client: Na

Plastic products maker Shaily Engineering Plastics said it has received an order from a large domestic pharma company for the supply of pen injectors over a period of 4 years.

Pharmaceutical
M&AAcquisition · Announced

Inox green energy services acquires Wind World India

At the same time, Inox Green Energy Services will take over Wind World India’s O&M business, strengthening its presence in the renewable asset management space.

Operations & Maintenance
M&AAcquisition · Announced

Inox green energy services acquires Wind World India – O&M arm

Meanwhile, Inox Green Energy Services will take over Wind World India’s O&M arm.

Operations & Maintenance
M&AAcquisition · Completed

Maithan alloys acquires Bank of baroda

Maithan Alloys purchased 6,59,000 equity shares, representing 0.01% shareholding in Bank of Baroda.

M&AAcquisition · Announced

Waaree Renewable Technologies acquires Associated power structures

Waaree Renewable Technologies Ltd (WRT) has announced plans to invest ₹1,225 crore to acquire a controlling stake in Associated Power Structures Ltd, a manufacturer of power transmission…

Power transmission towers and substations (EPC)
ContractTechnology

Viviana power tech · client: Gujarat Urja Vikas Nigam Limited

Viviana Power Tech Limited has received a new contract award from Gujarat Urja Vikas Nigam Limited (GUVNL) amounting to Rs. 208.73 crore for a BESS project in Gujarat, which is to be…

Battery Energy Storage
ContractSupply

Kotyark · client: Hindustan petroleum corporation limited

Kotyark Industries Limited has received additional Letters of Intent (LOIs) from Hindustan Petroleum Corporation Limited (HPCL) for the supply of Biodiesel. Under these LOIs, the company…

Energy / Fuel
Contract

Sudeep pharma · client: Sudeep Advanced Materials

Sudeep Pharma: Company provides unsecured loan of ₹40 Cr to subsidiary Sudeep Advanced Materials.

ContractSupply

Lineage power · client: Advait

Pace Digitek Ltd’s subsidiary Lineage Power Private Limited has received a domestic order worth Rs. 100 Crores from Advait Greenergy Private Limited, for purchase of LFP Battery Energy…

Energy Storage
FundingQualified Institutional Placement (QIP)

Ratnaveer precision engineering

RatnaVeer Precision Engineering Ltd has launched a Qualified Institutional Placement (QIP) issue to raise up to Rs 211 crore, according to an exchange filing.

Automotive, Aerospace, Industrial
ContractInfrastructure

Kpi green energy · client: Gujarat State Electricity Corporation Ltd.

KPI Green Energy has bagged a major contract from Gujarat State Electricity Corporation Ltd. (GSECL) to build a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir.

Renewable Energy
ContractGovernment

Bank of baroda · client: Ministry of Home Affairs

Bank of Baroda has signed an agreement with NSDL Database Management Ltd. (NDML) to provide integrated technical and banking support for the Agency Bank operations of the Office of the…

ContractSupply

Voltamp transformers · client: Gujarat energy transmission

Heavy electrical equipment manufacturer Voltamp Transformers Ltd on Thursday (November 27) said it has received a Letter of Intent from Gujarat Energy Transmission Corporation Ltd for a…

Energy
ContractSupply

Atlanta Electricals · client: Gujarat energy transmission

Atlanta Electricals Limited has secured two major orders worth Rs. 297.71 crore from Gujarat Energy Transmission Corporation Limited (GETCO) for supplying 25 high-capacity transformers,…

Power infrastructure
ContractSupply

Transformers and Rectifiers (India) Ltd. · client: Gujarat energy transmission

Transformers and Rectifiers (India) Ltd. has added another major project to its portfolio after securing a fresh order worth ₹389.97 crore from Gujarat Energy Transmission Corporation…

Energy
ContractSupply

Jyoti Limited · client: Gujarat energy transmission

Jyoti Limited has received a significant domestic order from Gujarat Energy Transmission Corporation Limited (GETCO), Vadodara. The contract involves the supply of 525 units of 11kV VCB…

Power
ContractSupply

Viviana power tech · client: Gujarat Urja Vikas Nigam

Viviana Power Tech ... are the winners.

Battery Energy Storage
FundingSeries A

Alembic

Alembic has raised $145 million in new funding led by Prysm Capital and Accenture, with participation from Silver Lake Waterman, WndrCo, and other investors.

Investors Prysm capital, Accenture, Silver Lake Waterman, Wndrco
Causal AI
ContractSupply

Rajesh Power Services · client: Gujarat energy transmission

The first order, from Gujarat Energy Transmission Corporation Limited (GETCO), involves the supply, installation, testing, and commissioning of a 220kV underground cable at the proposed…

Power Transmission
M&AAcquisition · Announced

Alembic pharmaceuticals acquires Utility therapeutics

Alembic Pharmaceuticals is expanding its presence in the United States through a broader portfolio of complex generics, injectables, and an entry into branded drugs following the…

ContractSupply

Voltamp transformers · client: Gujarat energy transmission

Voltamp Transformers Ltd has received a Letter of Intent from Gujarat Energy Transmission Corporation Limited for the design, manufacture, testing, and supply of various ratings of power…

Power

Startup companies in Vadodara, by revenue

Browse startups in Vadodara 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 294 startups in Vadodara, Gujarat 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 toner resins and styrene metallic for the printing and packaging industries

Manufacturing services
₹1,465.71 crFY 2024-25
-44%2024–2025
77+6% 12 mo to Sep 2024LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Provider of electric steel for motor, transformer, pump and electrical appliance

Manufacturing services
₹1,116.52 crFY 2024-25
+5%2024–2025
156LinkedIn · Jul 2026
14 yr2012
1postings · last posted Jul 2026

CNG and PNG distributor

Oil & gas downstream
₹234.84 crFY 2021-22
Not reported
23+21% 12 mo to Sep 2024recorded Sep 2024
13 yr2013
0none in 3 months

Largest Solar Panel Manufacturers in India | Future Solar

Renewable energy tech
₹263.82 crFY 2024-25
Not reported
635LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Provider of consulting, services, and staffing solutions

Hr services
₹222.35 crFY 2024-25
+21%2024–2025
517+24% vs previous recordLinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted May 2026

Tirupati Logistics | Integrated Container & Truck Transport

Trucking
₹210.42 crFY 2024-25
+7%2024–2025
63+10% 12 mo to Mar 2024LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of metal processing services

Manufacturing services
₹198.87 crFY 2024-25
+12%2024–2025
27LinkedIn · Jul 2026
12 yr2014
0none in 3 months

Manufacturer of solar mounting systems

Solar energy
₹194.44 crFY 2024-25
+61%2024–2025
56LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Provider of renewable energy services

Solar energy
₹192.11 crFY 2024-25
+89%2024–2025
94LinkedIn · Jul 2026
10 yr2016
1postings · last posted Jul 2026

Offering customized premixes and scientifically proven ingredients for various food and dietary supplement products

Food processing
₹171.67 crFY 2024-25
+29%2024–2025
148+33% 12 mo to Sep 2024LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Online marketplace for electrical product shopping

B2b e-commerce
₹160.64 crFY 2023-24
+7%2023–2024
3+32% 12 mo to Sep 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Producer of native and modified cassia gum powder

Food processing
₹152.29 crFY 2024-25
+0%2024–2025
—Not available
5 yr2021
0none in 3 months

Provider of pre-engineered building structures and related metal products

Manufacturing services
₹150.64 crFY 2024-25
-11%2024–2025
—Not available
15 yr2011
0none in 3 months

Manufacturer of pipe fittings and piping spools, catering to key infrastructural sectors

Manufacturing services
₹145.59 crFY 2024-25
-22%2024–2025
216LinkedIn · Jul 2026
12 yr2014
0none in 3 months

Manufacturer and supplier of coils and torodial & instrument transformers

Electronic components
₹144.82 crFY 2024-25
+64%2024–2025
23LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Retailer of consumer durable goods

Consumer electronics e-commerce
₹129.68 crFY 2024-25
+8%2024–2025
—Not available
1 yr2025
0none in 3 months

Provider of biodiesel production solutions using non-edible oils, diverting waste from landfills and sewer systems

Bioenergy
₹119.64 crFY 2022-23
+53%2022–2023
48+4% 12 mo to Jan 2024recorded Jan 2024
12 yr2014
0none in 3 months

Provider of peanuts, groundnuts, spices, and sesame seeds for export

Food distributors
₹115.92 crFY 2024-25
+8%2024–2025
3LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Provider of truck transportation and logistics services

Trucking
₹98.19 crFY 2021-22
Not reported
47LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of pharmaceutical products packaging services

Biopharma outsourcing
₹110.00 crFY 2024-25
+7%2024–2025
—Not available
12 yr2014
0none in 3 months

Developer of electric scooters

Electric vehicles
₹109.03 crFY 2024-25
-41%2024–2025
275-6% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Aura Lifecare - Leading Pharmaceutical Manufacturing |

Diversified pharmaceuticals
₹102.72 crFY 2024-25
+15%2024–2025
104-4% 12 mo to Sep 2024LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Superspeciality hospital that provides emergency care services

Hospitals
₹101.68 crFY 2024-25
+20%2024–2025
177LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Provider of battery energy storage systems and power electronics solutions

Energy storage tech
₹101.10 crFY 2024-25
+87%2024–2025
219LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Manufacturer of generic drugs

Traditional pharmaceuticals
₹99.54 crFY 2024-25
+7%2024–2025
27+17% 12 mo to Jul 2024recorded Jul 2024
14 yr2012
0none in 3 months
50 of 1,290 companies shown here · the full list is on Radar
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Explore startups in Vadodara by what you are looking for

Browse startups in Vadodara across IT, marketing, pharma, fashion and more. Find tech startups in Vadodara and the best startups in Vadodara to work with or follow.

8 ways to explore startup in Vadodara

IT services & software startupsMarketing, advertising & marketing tech startupsPharma, healthcare & clinic startupsFashion, food & D2C brand startupsManufacturing, energy & environment startupsEducation, HR & jobs startups

IT services & software startups

Software development, app development and IT services startups in Vadodara.

  1. SI2 Technologies

    Strategic premier application and infrastructure outsourcing company specializing in enterprise solutions

    It services
    Website
  2. Atliq

    Provider of IT service suite solutions and digital marketing services

    It services
    Website
  3. iwcts

    Provider of AI development, cloud, and security services

    It services
    Website
  4. Prometheas Tech

    Provider of web design, software development, BPO, and other services

    It services
    Website
  5. Maxlink IT Solutions

    Provider of application development and diversified AI services

    It services
    Website

Marketing, advertising & marketing tech startups

Digital marketing agencies and marketing software startups.

  1. Aum Advertising

    Provider of marketing, branding and advertising services

    Event management services
    Website
  2. Prometheas Tech

    Provider of web design, software development, BPO, and other services

    It services
    Website
  3. Spreadd

    Platform offering software for influencer marketing

    Marketingtech
    Website
  4. Novumlogic

    Provider of application development and SEO services

    It services
    Website
  5. WictroniX

    Provider of integrated business execution services for startups

    Marketing services
    Website

Pharma, healthcare & clinic startups

Pharmaceutical manufacturers, CDMOs, clinics and healthcare platforms.

  1. Medicap Healthcare

    Provider of pharmaceutical products packaging services

    Biopharma outsourcing
    See in list
  2. Flax Laboratories

    Manufacturer of sterile and non-sterile active pharmaceutical ingredients and intermediates

    Biopharma outsourcing
    See in list
  3. Kalintis Healthcare

    CDMO focused on manufacturing of API & intermediates

    Biopharma outsourcing
    See in list
  4. JDM Research

    Platform offering research and development solutions for various industries

    Biopharma outsourcing
    See in list
  5. Omgene

    R&D stage company specializing in the development of lab-scale quantities of complex APIs and intermediates for patient cure

    Biopharma outsourcing
    Website

Fashion, food & D2C brand startups

Online fashion labels and internet-first food and lifestyle brands.

  1. Puzzles Snacks

    Manufacturer and retailer of packaged snacks

    Food & beverage products
    Website
  2. HanuRam Foods

    Manufacturer of sweets

    Food & beverage products
    Website
  3. Nutty Affair

    Brand of dried fruits & nuts

    Food & beverage products
    Website
  4. LN Goenka Agro Foods

    Brand of multi category food products

    Food & beverage products
    Website
  5. Anahata Organic

    Internet first brand of organic food, beauty care, aromatherapy and worship essentials

    Food & beverage products
    Website

Manufacturing, energy & environment startups

Manufacturers, solar, waste management, EV and construction startups.

  1. Future Solar

    Largest Solar Panel Manufacturers in India | Future Solar

    Renewable energy tech
    See in list
  2. MicroTech

    Manufacturer of solar mounting systems

    Solar energy
    See in list
  3. MECpower Solutions

    Provider of renewable energy services

    Solar energy
    See in list
  4. Gujarat Infra

    Manufacturer of pipe fittings and piping spools, catering to key infrastructural sectors

    Manufacturing services
    See in list
  5. Safeco Hygiene Films

    Manufacturer of PE films for various applications

    Manufacturing services
    See in list

Education, HR & jobs startups

Learning platforms, HR tech and job portals based in Vadodara.

  1. LoveMySkool

    Learning management system

    K-12 edtech
    Website
  2. TechoKids

    Online platform providing coding related courses for kids

    K-12 edtech
    Website
  3. SkillActz

    Mobile-first job portal and skills platform for graduates

    Hrtech
    Website
  4. Profit From It

    Mobile-based platform providing stock market-related learning courses

    Continued learning
    Website
  5. Auro Interface

    Staffing and recruitment agency, committed to fulfilling the hiring needs of corporates

    Hr services
    Website

Newest startups in Vadodara

Companies in Vadodara founded in the last few years.

  1. Future Solar

    Largest Solar Panel Manufacturers in India | Future Solar

    Renewable energy tech
    See in list
  2. Sudeep Nutrition

    Offering customized premixes and scientifically proven ingredients for various food and dietary supplement products

    Food processing
    See in list
  3. LubiGel

    Producer of native and modified cassia gum powder

    Food processing
    See in list
  4. Shree Umiya Structure

    Manufacturer of pre-engineered metal buildings and heavy steel structures

    Real estate & infrastructure developers
    See in list
  5. Adroit

    Manufacturer of pharmaceutical-grade nicotine, derivatives, chemically synthesized APIs, and specialty chemicals

    Diversified chemicals
    See in list
339 companies in Vadodara

Startups hiring in Vadodara

Vadodara startups with open jobs right now.

  1. CSCI

    Provider of electric steel for motor, transformer, pump and electrical appliance

    Manufacturing services
    See in list
  2. ALOIS

    Provider of consulting, services, and staffing solutions

    Hr services
    See in list
  3. MECpower Solutions

    Provider of renewable energy services

    Solar energy
    See in list
  4. Newen Systems

    Provider of battery energy storage systems and power electronics solutions

    Energy storage tech
    See in list
  5. Shree Umiya Structure

    Manufacturer of pre-engineered metal buildings and heavy steel structures

    Real estate & infrastructure developers
    See in list
31 companies in Vadodara
Mobile reach

Top 10 startup apps from Vadodara

The most-installed Android apps published by startups headquartered in Vadodara — 28.3M installs between them. 112 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

RTO Exam: Driving Licence Test

by RTO Exam

Installs13.4M
Rating4.53129K ratings
Installs, year on year+13%
Last updatedJun 2026
View on Google Play ↗
RTO Exam: Driving Licence Test screenshot 1RTO Exam: Driving Licence Test screenshot 2RTO Exam: Driving Licence Test screenshot 3RTO Exam: Driving Licence Test screenshot 4RTO Exam: Driving Licence Test screenshot 5RTO Exam: Driving Licence Test screenshot 6
2

Baby Phone - Kids Mobile Games

by skenix infotech

Installs10.0M
Rating3.397K ratings
Installs, year on year+21%
Last updatedApr 2026
View on Google Play ↗
Baby Phone - Kids Mobile Games screenshot 1Baby Phone - Kids Mobile Games screenshot 2Baby Phone - Kids Mobile Games screenshot 3Baby Phone - Kids Mobile Games screenshot 4Baby Phone - Kids Mobile Games screenshot 5Baby Phone - Kids Mobile Games screenshot 6
4

Math Master: Play & Learn Math

by Math Master

Installs1.1M
Rating4.388K ratings
Installs, year on year+8%
Last updatedDec 2025
View on Google Play ↗
Math Master: Play & Learn Math screenshot 1Math Master: Play & Learn Math screenshot 2Math Master: Play & Learn Math screenshot 3Math Master: Play & Learn Math screenshot 4Math Master: Play & Learn Math screenshot 5Math Master: Play & Learn Math screenshot 6
5

One Way Cab

by OneWay.Cab

Installs770K
Rating3.767K ratings
Last updatedMay 2026
View on Google Play ↗
One Way Cab screenshot 1One Way Cab screenshot 2One Way Cab screenshot 3One Way Cab screenshot 4One Way Cab screenshot 5
6

Invoice Maker and Billing App

by Momobills

Installs642K
Rating4.459K ratings
Last updatedFeb 2026
View on Google Play ↗
Invoice Maker and Billing App screenshot 1Invoice Maker and Billing App screenshot 2Invoice Maker and Billing App screenshot 3Invoice Maker and Billing App screenshot 4Invoice Maker and Billing App screenshot 5Invoice Maker and Billing App screenshot 6
8

Hisab Al Jummal (حساب الجمل)

by Ascendtis

Installs211K
Rating4.361K ratings
Last updatedMay 2026
View on Google Play ↗
Hisab Al Jummal (حساب الجمل) screenshot 1Hisab Al Jummal (حساب الجمل) screenshot 2Hisab Al Jummal (حساب الجمل) screenshot 3Hisab Al Jummal (حساب الجمل) screenshot 4Hisab Al Jummal (حساب الجمل) screenshot 5Hisab Al Jummal (حساب الجمل) screenshot 6
9

Team Office - Attendance App

by Team Office

Installs203K
Rating—
Last updatedMay 2026
View on Google Play ↗
Team Office - Attendance App screenshot 1Team Office - Attendance App screenshot 2Team Office - Attendance App screenshot 3Team Office - Attendance App screenshot 4Team Office - Attendance App screenshot 5Team Office - Attendance App screenshot 6
The business behind the activity

Startup financials in Vadodara

Revenue, profit and growth from the filed annual accounts of 274 startups in Vadodara, Gujarat for FY24-25 — 332 of the 1,290 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 37% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹8,506.91 cr

274 companies filing accounts

combined net profit₹535.24 cr

6.3% aggregate margin

are profitable70%

191 of 274 companies

median revenue~₹3.4 cr

the typical company

median revenue growth+19%

into FY24-25

earned by the top five37%

revenue concentration

Six-year view

Combined revenue of filing companies

₹3,302.18 crFY19-20172 filers
₹4,048.19 crFY20-21199 filers
₹6,229.14 crFY21-22238 filers
₹7,268.79 crFY22-23264 filers
₹8,002.66 crFY23-24276 filers
₹8,506.91 crFY24-25274 filers

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

Like-for-like

The same 224 companies over three years

+19%
FY22-23₹6,605.49 cr₹55.08 cr net
FY23-24₹7,163.90 cr₹319.31 cr net
FY24-25₹7,879.35 cr₹504.50 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 cr9047% profitable
₹1–10 cr9373% profitable
₹10–100 cr6787% profitable
₹100–1,000 cr23100% profitable
Over ₹1,000 cr10% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking72
0–20%55
20–50%44
50–100%34
Doubled+43

248 companies with accounts for both years; median growth +19%.

Profitability

Profit is concentrated at the top

191profitable
82loss-making
6.3%aggregate margin
2.0%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
Ashvath Rubber TechASHVATH RUBBER TECH PRIVATE LIMITED
Gloria InterchemGLORIA INTERCHEM PRIVATE LIMITED+344%₹10.50 cr
QuickTechQUICKTECH TECHNOLOGY PRIVATE LIMITED
BodhivrikshBODHIVRIKSH VENTURE PRIVATE LIMITED+103%
ArodoARODO INDIA PRIVATE LIMITED₹30.72 cr
MECpower SolutionsMECPOWER SOLUTIONS LIMITED+89%₹192.11 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Shiva Performance MaterialsSHIVA PERFORMANCE MATERIALS PRIVATE LIMITED43.4%₹807.69 cr
LubiGelLUBI GEL LIMITED30.6%₹152.29 cr
Amtran MagneticsAMTRAN MAGNETICS PRIVATE LIMITED29.6%₹144.82 cr
Sudeep NutritionSUDEEP NUTRITION PRIVATE LIMITED27.7%₹171.67 cr
Medicap HealthcareMEDICAP HEALTHCARE LIMITED24.2%₹110.00 cr
Avante Medical SolutionsAVANTE MEDICAL SOLUTIONS PRIVATE LIMITED19.4%₹20.95 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Manufacturing services15₹2,539.44 cr~₹17.0 cr80%9.2%
Solar energy9₹456.67 cr~₹16.1 cr89%6.7%
Trucking5₹444.71 cr~₹49.8 cr80%3.5%
Food processing5₹341.97 cr~₹12.0 cr80%26.1%
Biopharma outsourcing8₹274.70 cr~₹25.2 cr75%10.2%
Electricity transmission & distribution equipment5₹192.49 cr~₹10.2 cr100%10.6%
Energy storage tech5₹169.12 cr~₹8.7 cr40%-27.0%
Food & beverage products8₹53.09 cr~₹3.6 cr62%-2.8%
Leaders

Largest startups by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
CSCICSCI STEEL CORPORATION INDIA PRIVATE LIMITED₹1,116.52 cr−₹124.44 cr-11.1%+5%
Shiva Performance MaterialsSHIVA PERFORMANCE MATERIALS PRIVATE LIMITED₹807.69 cr₹350.64 cr43.4%+36%
Vadodara GasVADODARA GAS LIMITED₹583.99 cr₹38.30 cr6.6%+18%
YataYatYATAYAT CORPORATION INDIA LIMITED₹448.85 cr₹29.98 cr6.7%+29%
ALOISALOIS TECHNOLOGIES PRIVATE LIMITED₹222.35 cr₹3.01 cr1.4%+21%
Tirupati LogisticsTIRUPATI LOGISTICS PRIVATE LIMITED₹210.42 cr₹5.17 cr2.5%+7%
Isko StripISKO STRIP PRIVATE LIMITED₹198.87 cr₹41.96 lakh0.2%+12%
MicroTechMTE STRUCTURES LIMITED₹194.44 cr₹13.29 cr6.8%+61%
MECpower SolutionsMECPOWER SOLUTIONS LIMITED₹192.11 cr7.3%+89%
Theme LogisticsTHEME LOGISTICS AND MANAGEMENT PRIVATE LIMITED₹175.13 cr₹10.55 cr6.0%+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.

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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 Vadodara 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, Vadodara35

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 Vadodara

35Acquisition

Most active acquirers

  1. Evexia lifecare5
  2. Inox green energy services3
  3. Waaree Renewable Technologies2
  4. Zeochem2
  5. Alembic pharmaceuticals2

Most acquired or merged

  1. Bank of baroda5
  2. Associated power structures3
  3. Shaily engineering plastics3
  4. Utility therapeutics2
  5. Special Purpose Vehicle (SPV)2

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

Startup funding in Vadodara

23 startups in Vadodara have recorded equity funding, US$117.09m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Vadodara

Meet the people behind startups in Vadodara. 389 of 1,290 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Vadodara startups by sub-sector

The most common specialisations among startups in Vadodara. 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.

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