67 investors have funded 10 Subscription Commerce companies head-officed in Mumbai, across 98 rounds (Feb 2013 – May 2026). They are ranked by how many Mumbai companies in this market they have actually backed.
"In Mumbai" describes the companies, not the investor: most of the money in any city comes from somewhere else, and the Where the money comes from section below shows exactly where it came from here.
Ranked by companies backed in this market and city, then by round count. "Led" counts rounds recorded with this investor as lead.
| # | Investor | Based in | Stages here | Companies | Rounds | Led | Latest | Portfolio total |
|---|---|---|---|---|---|---|---|---|
| 1 | Lightbox | Mumbai, India | Series ASeries B | 2 | 6 | 5 | Oct 2023 | 26 |
| 2 | Alteria Capital | Mumbai, India | Series A | 2 | 2 | 2 | Jan 2021 | 195 |
| 3 | Z Nation Lab | Cupertino, United States | Seed | 2 | 2 | 1 | May 2024 | 153 |
| 4 | Kae Capital | Mumbai, India | SeedSeries A | 1 | 4 | 1 | Apr 2022 | 101 |
| 5 | RAAY Global Investments | Mumbai, India | SeedSeries B | 1 | 4 | 3 | Oct 2023 | 15 |
| 6 | NAFA Capital Advisors | Mumbai, India | Seed | 1 | 4 | 1 | Feb 2024 | 5 |
| 7 | Rukam Capital | Delhi, India | Seed | 1 | 3 | 2 | May 2023 | 31 |
| 8 | Kalysta Capital | SeedSeries A | 1 | 3 | — | Apr 2021 | 10 | |
| 9 | Singularity Ventures | Berlin, Germany | SeedSeries B | 1 | 3 | 3 | Feb 2024 | 16 |
| 10 | Euro Gulf Investments | Series A | 1 | 3 | — | Apr 2026 | 1 | |
| 11 | 100Unicorns | Mumbai, India | Seed | 1 | 2 | 2 | Feb 2024 | 166 |
| 12 | Growth Sense | Akola, India | Seed | 1 | 2 | 1 | May 2026 | 16 |
| 13 | Startup Buddy | Gurugram, India | Seed | 1 | 2 | 1 | Feb 2021 | 9 |
| 14 | Goldenbird Multiproduct | Kanpur, India | Seed | 1 | 2 | — | Nov 2021 | 7 |
| 15 | Ka Enterprise | Mumbai, India | Series A | 1 | 2 | — | Apr 2022 | 4 |
| 16 | Kama Holdings | Gurugram, India | Series ASeries B | 1 | 2 | — | Feb 2025 | 4 |
| 17 | Perfochem India | Mumbai, India | Seed | 1 | 2 | 1 | Jun 2018 | 3 |
| 18 | LetsVenture | Bengaluru, India | Series A | 1 | 1 | — | Apr 2021 | 568 |
| 19 | Venture Catalysts | Mumbai, India | Seed | 1 | 1 | 1 | May 2024 | 325 |
| 20 | India Quotient | Mumbai, India | Seed | 1 | 1 | 1 | Feb 2013 | 124 |
| 21 | DSG Consumer Partners | Ebene City, Mauritius | Seed | 1 | 1 | 1 | Dec 2020 | 80 |
| 22 | 100X.VC | Mumbai, India | Seed | 1 | 1 | 1 | Jan 2024 | 184 |
| 23 | India Accelerator | Gurugram, India | Seed | 1 | 1 | 1 | May 2023 | 144 |
| 24 | ah! Ventures | Mumbai, India | Seed | 1 | 1 | — | Feb 2020 | 116 |
| 25 | JITO Incubation & Innovation Foundation | Mumbai, India | Seed | 1 | 1 | — | May 2026 | 78 |
| 26 | SiriusOne | Chennai, India | Seed | 1 | 1 | — | May 2024 | 57 |
| 27 | Singularity Ventures AMC | Mumbai, India | Series B | 1 | 1 | 1 | Jan 2025 | 48 |
| 28 | Shakun Medicare | Akola, India | Seed | 1 | 1 | — | May 2024 | 42 |
| 29 | IVY Growth Associates | Surat, India | Seed | 1 | 1 | — | May 2024 | 38 |
| 30 | Hem Securities | Jaipur, India | Seed | 1 | 1 | — | Feb 2021 | 27 |
| 31 | Shakun Advisors | Mumbai, India | Seed | 1 | 1 | — | May 2024 | 30 |
| 32 | Mirabilis Investment Trust | Bengaluru, India | Series B | 1 | 1 | 1 | Feb 2025 | 17 |
| 33 | AKM | Karachi, Pakistan | Seed | 1 | 1 | 1 | Feb 2024 | 14 |
| 34 | Malpani Ventures | Mumbai, India | Seed | 1 | 1 | 1 | May 2024 | 17 |
| 35 | Salil Chakrabarty Innovation Fund | Seed | 1 | 1 | — | May 2024 | 15 | |
| 36 | KA Enterprises | Mumbai, India | Series A | 1 | 1 | — | Apr 2021 | 10 |
| 37 | Sprint | Bengaluru, India | Seed | 1 | 1 | — | May 2024 | 10 |
| 38 | MM Ceramics & Ferro Alloys | Mumbai, India | Seed | 1 | 1 | 1 | Apr 2023 | 8 |
| 39 | Shakun Snazzy | Akola, India | Seed | 1 | 1 | — | May 2024 | 7 |
| 40 | Shakun Universal | Akola, India | Seed | 1 | 1 | — | May 2024 | 6 |
| 41 | Real Time MCS | Gurugram, India | Seed | 1 | 1 | — | Oct 2019 | 6 |
| 42 | MGB Advisor | Jaipur, India | Seed | 1 | 1 | 1 | Feb 2025 | 4 |
| 43 | Dsp Hmk Holdings | Series A | 1 | 1 | 1 | Jan 2023 | 5 | |
| 44 | 204 Ventures | Longmont, United States | Seed | 1 | 1 | — | Mar 2018 | 5 |
| 45 | Kurlon | Bengaluru, India | Seed | 1 | 1 | — | May 2024 | 5 |
| 46 | Kedia Organic Chemicals | Ambernath, India | Seed | 1 | 1 | — | May 2024 | 4 |
| 47 | Brainshare Capital | Pune, India | Seed | 1 | 1 | 1 | Jul 2022 | 4 |
| 48 | Shakun Insight | Seed | 1 | 1 | — | May 2024 | 3 | |
| 49 | Footpathventures.com | Canada | Series B | 1 | 1 | — | Feb 2025 | 3 |
| 50 | Agre Global FZE | Seed | 1 | 1 | — | May 2024 | 2 | |
| 51 | HD Technologies | Bengaluru, India | Seed | 1 | 1 | — | Oct 2019 | 2 |
| 52 | Dkv Advisors | London, United Kingdom | Series A | 1 | 1 | 1 | Jan 2023 | 2 |
| 53 | 21by72 | United States | Seed | 1 | 1 | — | May 2024 | 2 |
| 54 | Sporos Platform | Seed | 1 | 1 | 1 | Jul 2024 | 1 | |
| 55 | GreenOstore Global | Navi Mumbai, India | Seed | 1 | 1 | — | Apr 2021 | 1 |
| 56 | CG Growth Partners | Gurugram, India | Seed | 1 | 1 | 1 | May 2023 | 1 |
| 57 | Atriune Company | Austin, United States | Seed | 1 | 1 | 1 | Jun 2018 | 1 |
| 58 | Muscat | Muscat, Oman | Seed | 1 | 1 | — | Mar 2022 | 1 |
| 59 | Cheque1 Ventures | Seed | 1 | 1 | — | Apr 2021 | 1 | |
| 60 | Kaira Trust | Series A | 1 | 1 | — | Apr 2021 | 1 | |
| 61 | Gpr Finance Corp | Seed | 1 | 1 | 1 | Apr 2023 | 1 | |
| 62 | Al Tebah | Kuwait City, Kuwait | Seed | 1 | 1 | — | Mar 2022 | 1 |
| 63 | Boudhik Ventures | Gurugram, India | Seed | 1 | 1 | — | Oct 2019 | 1 |
| 64 | SKS Glochem | Seed | 1 | 1 | — | Apr 2021 | 1 | |
| 65 | Exponentia Ventures | Dubai, United Arab Emirates | Seed | 1 | 1 | — | Jun 2021 | 1 |
| 66 | Krskacapital | Seed | 1 | 1 | 1 | Jul 2022 | 1 | |
| 67 | Arian Capital Partners | Seed | 1 | 1 | — | May 2026 | 1 |
Head office of the investors on this page.
Rounds by stage — where in a company's life this money arrives.
Total disclosed size of each round, not one investor's share.
How active this market has been.
Subscription Commerce companies head-officed in Mumbai that took money from these investors.
| Company | Backers | Rounds | Disclosed | Latest round |
|---|---|---|---|---|
| The EleFant theelefant.ai |
20 | 21 | $15.9M | Seed May 2026 |
| Nua nuawoman.com |
14 | 24 | $102.5M | Series B Feb 2025 |
| Native Milk nativemilk.co.in |
11 | 18 | $6M | Seed Feb 2024 |
| eBikeGo ebikego.com |
10 | 11 | $15.3M | Seed Mar 2022 |
| Bombay Shirt Company bombayshirts.com |
7 | 14 | $44.6M | Series B Jan 2025 |
| Pluckk pluckk.in |
2 | 4 | $31.8M | Series A Apr 2026 |
| Trueno gotrueno.com |
2 | 2 | $178.1K | Seed Apr 2023 |
| Pet Chef petchef.co.in |
2 | 2 | $163.1K | Seed Jul 2024 |
| FAB BAG fabbag.com |
1 | 1 | $500K | Seed Feb 2013 |
| Ripsey ripsey.com |
1 | 1 | $279.4K | Seed Feb 2020 |
| Date | Investor | Company | Stage | Round size |
|---|---|---|---|---|
| May 2026 | Arian Capital Partners | The EleFant | Seed | $1M |
| May 2026 | JITO Incubation & Innovation Foundation | The EleFant | Seed | $1M |
| May 2026 | Growth SenseLED | The EleFant | Seed | $1M |
| Apr 2026 | Euro Gulf Investments | Pluckk | Series A | $10.8M |
| Feb 2025 | Kama Holdings | Nua | Series B | $4M |
| Feb 2025 | Footpathventures.com | Nua | Series B | $4M |
| Feb 2025 | Mirabilis Investment TrustLED | Nua | Series B | $4M |
| Feb 2025 | MGB AdvisorLED | The EleFant | Seed | $183.8K |
| Jan 2025 | Singularity AMCLED | Bombay Shirt Company | Series B | $1.3M |
| Oct 2024 | Euro Gulf Investments | Pluckk | Series A | $10M |
| Jul 2024 | Sporos PlatformLED | Pet Chef | Seed | — |
| May 2024 | Venture CatalystsLED | The EleFant | Seed | $750K |
| May 2024 | Z Nation Lab | The EleFant | Seed | $750K |
| May 2024 | Kedia Organic Chemicals | The EleFant | Seed | $750K |
| May 2024 | Agre Global FZE | The EleFant | Seed | $750K |
| May 2024 | Shakuninsight | The EleFant | Seed | $750K |
| May 2024 | Shakun Snazzy | The EleFant | Seed | $750K |
| May 2024 | Shakun Universal | The EleFant | Seed | $750K |
| May 2024 | Kurlon | The EleFant | Seed | $750K |
| May 2024 | Malpani VenturesLED | The EleFant | Seed | $750K |
Subscription Commerce investors in other cities
Other markets in Mumbai
Individual angels in the same market