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Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE MUMBAI EDITION 2026

Mumbai’s
adtech industry,
in focus.

The companies, capital and talent shaping adtech in Mumbai. Find the leaders. Understand the segments. See where the activity is.

Explore in Radar Read the key signals
Snapshot: Funding in USD
Illustrated cover for AdTech Industry Landscape of Mumbai
IN
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

AdTech illustration
Companies tracked 421AdTech ecosystem in Mumbai Disclosed funding $257.47M49 companies · all recorded rounds Companies hiring 46With open roles at the snapshot Tracked open roles 10319 employers posted in the preceding 30 days
MEET THE COMPANIES

Explore Mumbai’s adtech leaders

23 featured companies from the funding, hiring, revenue and team-size leaderboards.

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Explore the full landscape
AdTech company highlights in Mumbai, snapshot 5 August 2026
Company
Komlikomli.com$97M—608—
WebEngagewebengage.com$32.68M6 roles418Financial figure available in RadarView in Radar
Vservvserv.com$23.94M—56$6.46MFYFY2025 filing
Intelligence Nodeintelligencenode.com$17.91M—111—
Wondrlabwondrlab.com$14.94M—26—
Flickstreeflickstree.com$9.55M—46—
POKKTpokkt.com$8.5M—100—
Zribblezribble.in$8.43M———
AppVersalappversal.com—8 roles——
Netcore Cloudnetcorecloud.com—6 roles501—
Parity Cubeparitycube.com—6 roles35$6.91MFYFY2025 filing
Scatterscatter.co.in—5 roles31$2.1MFYFY2025 filing
Vertozvertoz.com—5 roles124$6.02MFYFY2025 filing
Enagoenago.com—4 roles713Financial figure available in RadarView in Radar
KANALYTICSkanalytics.in—3 roles——
CACTUScactusglobal.com——756$28.44MFYFY2025 filing
Dove Softdove-soft.com——22Financial figure available in RadarView in Radar
Hurix Digitalhurix.com——519$10.64MFYFY2025 filing
Konnect Insightskonnectinsights.com——60$3.45MFYFY2025 filing
Mobavenuemobavenue.com——146—
THE CRAZY ENTREPRENEURthecrazyentrepreneur.com——57—
Tonic Worldwidetonicworldwide.com——116$3.83MFYFY2025 filing
Wrap2Earnwrap2earn.com——37Financial figure available in RadarView in Radar
23 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only

Explore the live startup set in Radar

No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.

Explore classified startups in Radar ↗
THE KEY SIGNALS

AdTech industry KPIs in Mumbai

A few useful ratios bring the size of this ecosystem into perspective.

5 August 2026
Hiring participation10.9%

46 of 421 tracked companies have open roles.

Funding participation12.6%

53 of 421 tracked companies have a recorded round.

Top 3 funding share59.7%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$269.75K

Midpoint of 82 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 59.7% of disclosed capital, while 87.4% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How Mumbai adtech has grown

Recorded company formation and disclosed funding across the complete annual series shown.

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2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

Mumbai adtech
$0$8.99M$17.98M$26.97M$35.96M2016: $3.96M20162017: $4.95M20172018: $1.72M20182019: $15.69M20192020: $5.14M20202021: $21.15M20212022: $31.54M20222023: $6.56M20232024: $5.95M20242025: $4.42M2025
View the numbers
Annual adtech funding and company formation in Mumbai
YearFunding (USD)FoundedRaising
2016$3.96M355
2017$4.95M238
2018$1.72M288
2019$15.69M2711
2020$5.14M298
2021$21.15M2511
2022$31.54M3210
2023$6.56M226
2024$5.95M263
2025$4.42M183
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Komli37.7%
  • WebEngage12.7%
  • Vserv9.3%
  • Other companies40.3%

Funding by stage

94 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel69 73.4%
Series A–B16 17.0%
Series C+ / PE1 1.1%
Grants, debt & other8 8.5%

Recent recorded rounds

Latest recorded rounds · USD
0 rounds

Swipe or scroll horizontally to browse.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

Series D06/2012
Komlikomli.com$39M

Backed by Nexus Venture Partners and Helion Venture Partners and others.

Series D10/2013
Komlikomli.com$30M

Backed by Peepul Capital and Nexus Venture Partners and others.

Series C01/2011
Komlikomli.com$15M

Backed by Nexus Venture Partners and Helion Venture Partners and others.

Series C03/2015
Vservvserv.com$11M

Backed by Chiratae Ventures and Maverick Ventures and others.

Series B07/2010
Komlikomli.com$6M

Backed by Nexus Venture Partners and Helion Venture Partners and others.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

Annual accounts for reporting companies linked to this landscape, on like-for-like currency and reporting bases.

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₹ crore · standalone

Display conversions use the dated reference rates above. Where a verified rate is unavailable, figures retain their source currency. Each reporting cohort keeps its currency and accounting basis separate.

FY2025 · annual statements grouped by reported fiscal year; exact entity periods remain on preview rows · 100 reporting entities from 129 eligible matches.

Revenue in covered accounts₹9,503.4 crore

Sum of reporting-entity revenue; not Mumbai market sales.

Net profit / loss₹230.9 crore

Combined result for the same cohort.

Aggregate net margin+2.4%

Combined net income ÷ combined revenue.

Median company revenue₹5.8 crore

The middle covered reporting entity.

Profitable entities+52.0%

52 of 100 covered entities.

Top-five concentration+74.4%

Share of covered revenue from the five largest entities.

Annual account trend

Reported cohort totals by year; coverage is stated for every period.

Bar height shows revenue. Changes in coverage can affect totals.

Profitability has two perspectives

FY2025 · 100 reporting entities

Open the company accounts

Up to eight fixed company previews show financial amounts. Search and sort the wider company list, then continue in Radar.

100 reporting entities
Continue your financial research in Radar

Explore full company accounts and filings.

View financials in Radar ↗
MUMBAI · INDUSTRY COHORTS

How does adtech compare?

Each pair uses the same year, currency and reporting basis. Cohort overlap is disclosed.

IndustryCovered / eligibleRevenue totalMedian revenueNet profit / lossAggregate marginProfitable shareOverlap

Available-account cohorts are not estimates of whole industries. Overlapping entities can occur in more than one cohort; do not add cohort totals.

Coverage, calculations & financial sources

Filed annual accounts for exact designated national identifiers. Every aggregate and peer pair uses one fiscal year, source currency and reporting basis; periods, coverage and overlap are explicit; 2026 partials are excluded.

The same up to eight reporting entities remain open across years, filters and sorts. Other company figures are available in Radar.

Source currencies and accounting bases stay separate. Missing accounts are excluded rather than treated as zero. Exact reporting periods appear on company previews. Annual totals can change with coverage and do not measure growth of a fixed company cohort.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the Mumbai companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Busiest websites

9 of the 421 companies on this page carry a measured traffic record (2.1%); these are the largest of those, by monthly visits. The median among them is 162,068 visits.

CompanyMonthly visitsAuthorityMobile
Researcher.Liferesearcher.life450,4735232%
Cuelinkscuelinks.com390,7173773.9%
CACTUScactusglobal.com272,6524028.2%
Helo.aihelo.ai224,7413298.1%
DoubleTickdoubletick.io162,0683623.3%
Tvnews4umedianews4u.com82,8774072.7%
StampJamstampjam.com36,6393325.5%
Websites.co.inwebsites.co.in24,6444071.1%
Exhibit.Socialexhibit.social52050%

Visits and authority are third-party web estimates, not company-reported figures.

Most-installed apps

31 of these companies (7.4%) publish at least one Android app — 48 apps in all, carrying 6.6M installs between them.

AppInstallsRatingStore category
R Discovery: Academic ResearchResearcher.Life2.5M4.7Education
VideoTone: Phone DialerFlickstree1.8M4Communication
OPA: Get Brand CollabsOpa565.5K—Business
BigBang.SocialBigBang.Social555.4K—Entertainment
FieldSenseQLC342.6K4.1Business
Interakt for WhatsApp BusinessInterakt273.2K3.7Communication
DoubleTick CRMDoubleTick116.2K3.3Business
Netaji Political Poster MakerNetaji App110.2K—Art & Design
PlusYou Club: The Rewards AppFlickstree62.6K3.2Entertainment
Kitaboo PlayerHurix Digital44.2K1.6Education

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q2–2025Q4).

SegmentAppsInstallsLeading appRelease trend
Marketingtech254MVideoTone: Phone Dialer 1.8M
Tech For Digital Publishers162.6MR Discovery: Academic Research 2.5M
Customer Success Management4393.4KInterakt for WhatsApp Business 273.2K
Customer Service Software3389.9KDoubleTick CRM 116.2K
Hrtech344.3KKitaboo Player 44.2K
Sales Force Automation26.9KHelpie Event: B2B Prospecting 6.2K
Localization Tech64.7KDarvin 4.1K
Marketing Services22.5KVEVE Market for Publishers 1.6K

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2022Q4: 12022Q4: 02022Q42023Q1: 12023Q1: 02023Q12023Q2: 12023Q2: 02023Q22023Q3: 22023Q3: 12023Q32024Q1: 12024Q1: 22024Q12024Q2: 12024Q2: 02024Q22024Q3: 12024Q3: 22024Q32024Q4: 12024Q4: 62024Q42025Q1: 22025Q1: 22025Q12025Q3: 42025Q3: 32025Q32025Q4: 22025Q4: 52025Q4

Darker bars are new releases, lighter bars apps updated. 40 of 48 apps carry a release date. The series ends at 2025Q4, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The Mumbai adtech market map

Explore the segments behind the headline numbers.

Expand panel +

Where companies are building

Rank segments by scale, hiring or disclosed funding.

Enterprise tech354
Enterprise software256
Saas226
Consumer digital52
Marketplaces27
Lead management27
Lead generation26
Conversion rate optimization19
Artificial intelligence19
Retail tech19
Native ai in marketing18
Commerce enablers18

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Enterprise tech

The largest measured segment in this report snapshot.

354companies
11.6%have hiring activity

41 companies hiring · $256.45M disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

Subscription299
Advertising161
E-commerce - service108
Commission on transaction67
Affiliate marketing28
Fee-for-service27
Sponsorship8
E-commerce - product6
THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

Expand panel +
Recent corporate headlines 10 dated reports
Mergers & acquisitionswhoppl.com ↗

has acquired Whoppl, one of India’s fastest-growing creator and digital-first marketing companies.

Mergers & acquisitionswondrlab.com ↗

Wondrlab has been in advanced discussions to acquire Sam Balsara’s Madison in a transaction widely pegged at around ₹1,000 crore.

Mergers & acquisitionscactusglobal.com ↗

Cactus, Inc. today announced the completion of the acquisition of a majority interest in Baker Hughes Company’s Surface Pressure Control business.

Mergers & acquisitionshashtagloyalty.com ↗

Jubilant FoodWorks Ltd, the company behind Domino’s Pizza and Dunkin’ Donuts in India, has agreed to sell its entire 31.66% stake in Hashtag Loyalty Private Ltd.

Mergers & acquisitionsvertoz.com ↗

Vertoz, a global MadTech and CloudTech company, through its US subsidiary, Vertoz Inc has signed a definitive agreement to acquire Webimax LLC, an AI-driven marketing automation company headquartered in New Jersey, US.

Funding roundsmobavenue.com ↗

Mumbai-based AI startup Mobavenue AI Tech’s board has approved plans to raise about INR 100 Cr through a preferential issue of 9.19 Lakh equity shares.

Mergers & acquisitionsintelligencenode.com ↗

IPG completed two deals: the acquisition of U.S.-based real-time e-commerce intelligence platform Intelligence Node and a smaller acquisition in the Philippines, Xiklab Digital, a digital marketing consultancy.

New productstonicworldwide.com ↗

Tonic Worldwide today announced the launch of Groth, a full-funnel marketing intelligence platform engineered to solve a common problem in modern marketing: dashboards delivering data without clear decisions.

Company announcementswebengage.com ↗

The Significant Factors capability, introduced in 2025, helps business owners understand the specific attributes and behaviors that actually drive funnel conversions beyond surface‑level metrics like click rates or open rates.

Company announcementsnetcorecloud.com ↗

Recent partnerships with Deloitte and Google Cloud produced an Agentic Marketing Platform introducing pay‑for‑performance pricing models, fundamentally changing how businesses can procure retention technology by aligning vendor success with customer outcomes.

Full recorded event mix

Top 9 categories among 156 recorded events in the 24-month window.

Leadership moves
49
Earnings
38
Mergers & acquisitions
28
Company announcements
21
New products
8
Contracts
6
Funding rounds
3
IPO activity
2
Asset acquisitions
1
4 activity cards

Swipe or scroll horizontally to browse.

Leadership moves

10 tracked people moves

Vertoz ↗
Gaurav Bhagnani (Ghanshyam)

Appointment Senior Marketing Manager

Jayesh Bhatt

Appointment Chief Information Security Officer

Mobavenue ↗
Ben John

Appointment Advisory Board Member

Wondrlab ↗
Hemant Shringy

Appointment Chief Commercial Officer & Managing Partner

Vassil Mladjov

Appointment Senior Vice President for Agentic AI and Strategy

Deepthi Nagarajan

Appointment Vice President for Marketing

CACTUS ↗
Siddharth Bhatia

Appointment Chief Growth Officer, Institutional Sales (West)

Segumento ↗
Tabrez Alam

Appointment Chief – Business Strategy & Data Alliances

Product launches

Products, platforms and features in the recorded window

Groth

full-funnel marketing intelligence platform

Dove Soft ↗
CPaaS 2.0

Cloud Communications / CPaaS

Variable Pricing Model

Agentic Marketing Platform

Agentic Marketing Stack

Marketing Technology

Impactsure ↗
SureMatch

Agentic AI platform for Global Trade

Contract wins

4 recorded customer wins

CACTUS ↗

Customer: government of indiaAI services

Vertoz ↗

Customer: Noida Metro Rail Corporation LimitedAdvertising

Wondrlab ↗

Customer: blue heavenCosmetics

Customer: GreenplyDigital Marketing

Earnings pulse

Reported company results in the recorded window.

4companies
41period observations
18.0%median reported growth

Median across 32 reported growth observations; companies may contribute multiple periods.

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
Wondrlab→madison worldAnnounced2026-03-31Not stated in snapshot
think9→Whoppl ↗Announced2026-03-19Not stated in snapshot
CACTUS→Baker Hughes Company’s Surface Pressure Control businessCompleted2026-01-01Not stated in snapshot
Mr. Karan Chechani→Hashtag Loyalty ↗Completed2025-12-29Not stated in snapshot
Karan Chechani→Hashtag Loyalty ↗Pending2025-12-29Not stated in snapshot
Vertoz→webimaxAnnounced2025-11-29$6.6M

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

230 postings in the preceding 12 months. The full 279-posting snapshot covers 44 employers.

Expand panel +

Most advertised job titles

Head Of Engineering5
Fullstack Developer4
Enterprise Sales Manager4
Senior Copywriter3
Vp Finance3
Sales Development Executive3
7 internship postings

2 tracked postings mention remote work.

The seniority mix

136 postings specify a level.

unspecified
143
manager
49
senior
41
lead
27
intern
12
entry
7

Skills employers mention

Top skills across 279 tracked postings in the available jobs snapshot.

Python
21
Javascript
20
Lead Generation
16
Communication Skills
14
Java
12
Crm
12
Excel
11
Mysql
11
Sql
10
Problemsolving
10
ADVERTISED PAY$6.0K/ year

Median across 35 postings with pay data, expressed in USD.

THE PEOPLE BUILDING THE FIELD

Founders and leaders

330 founders and chief executives across 226 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

37 profiles with education records.

IIT Bombay
14
IIM Ahmedabad
5
IIT Kharagpur
3
Wharton School
2
IIM Calcutta
2
IIM Bangalore
2
Columbia University
2
Carnegie Mellon University
1

Prior employers

6 profiles with prior-work records.

McKinsey
2
Amazon
2
eBay
1
Intel
1

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

5,795 articles in the measured 12-month window.

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5,795articles in the measured year
1,198articles in 2026Q1
89.0%positive tone in the latest complete year

News volume trends

AdTech coverage tagged Mumbai · articles per complete quarter

08621,7242,5863,4482021Q2: 6512021Q22021Q3: 2,7492021Q4: 7412022Q1: 9812022Q2: 8802022Q22022Q3: 2,9982022Q4: 9442023Q1: 1,0482023Q2: 9802023Q22023Q3: 2,3162023Q4: 1,0352024Q1: 1,0732024Q2: 1,2002024Q22024Q3: 1,4972024Q4: 1,4002025Q1: 1,6852025Q2: 8962025Q22025Q3: 2,4152025Q4: 1,2802026Q1: 1,1982026Q1
View quarterly article counts
QuarterArticles
2021Q2651
2021Q32,749
2021Q4741
2022Q1981
2022Q2880
2022Q32,998
2022Q4944
2023Q11,048
2023Q2980
2023Q32,316
2023Q41,035
2024Q11,073
2024Q21,200
2024Q31,497
2024Q41,400
2025Q11,685
2025Q2896
2025Q32,415
2025Q41,280
2026Q11,198

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
4,155 positive · 14 neutral · 266 negative
2022
5,472 positive · 7 neutral · 324 negative
2023
5,013 positive · 17 neutral · 348 negative
2024
4,718 positive · 15 neutral · 434 negative
2025
5,579 positive · 8 neutral · 683 negative

Leading coverage topics

AdTech coverage tagged Mumbai · ranked by full-period article count.

Market Research And Consumer Behavior Analysis7,006 articles in the full recorded period
1,487 recent · 1,268 prior
New Product Launches And Innovations3,221 articles in the full recorded period
978 recent · 637 prior
Technology Adoption And Digital Transformation3,041 articles in the full recorded period
843 recent · 600 prior
Strategic Partnerships And Collaborations2,759 articles in the full recorded period
770 recent · 566 prior
Competitive Analysis And Market Positioning2,728 articles in the full recorded period
811 recent · 551 prior
Executive Leadership Changes And Appointments1,963 articles in the full recorded period
546 recent · 345 prior
Industry Specific Business Trends1,464 articles in the full recorded period
453 recent · 221 prior
Industry Awards And Recognition Announcements1,432 articles in the full recorded period
305 recent · 333 prior
Social Media Marketing Campaigns1,051 articles in the full recorded period
218 recent · 205 prior
Global Marketing And Localization995 articles in the full recorded period
219 recent · 164 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

India comparison coverage

KeywordRecentPriorChange
innovative product293134119%
in-store promotions20041388%
retailtainment strategies17626577%
digital initiative1337871%
digital strategy1327869%
consumer trends12959119%
innovation12747170%
bus service changes1238054%
intercity bus routes1085983%
intercity bus connections1046073%
analytics tools93145-36%
marketing automation platforms78121-36%
sales engagement platforms5384-37%
regulatory advertising frameworks3665-45%
truth-in-advertising laws3765-43%

Event and signal lenses

India comparison coverage

All complete annual cohorts shown
Rising

Regulatory Risk

40,681 classified articles

truth-in-advertising laws, regulatory advertising frameworks, socially responsible ads

41.1% critical · 57.8% positive
Flat

Funding Momentum

10,511 classified articles

funding announcement, pre-ipo valuation, ipo prospectus

43.3% critical · 66.8% positive
Rising

Growth

43,489 classified articles

purchase intent research, consumer trends, ad revenue

19.6% critical · 67.5% positive

AdTech coverage tagged Mumbai. Topic labels describe recorded classifications and can include broad context.

UNDERSTAND THE LANDSCAPE

AdTech in Mumbai: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

KEEP EXPLORING

Put Mumbai in context

All landscapes ↗

Company ecosystem snapshot: 5 August 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon