Top startup companies in Mumbai

Mumbai is a vibrant epicentre for startup companies in today’s dynamic business landscape. This bustling financial capital of India is a breeding ground for innovation and entrepreneurship, fostering a rich ecosystem of startups across diverse industries, from groundbreaking tech-driven ventures reshaping e-commerce to pioneering healthcare solutions and sustainability initiatives. Mumbai’s startups leave an indelible mark. They not only significantly impact the local economy but also resonate on the global stage, showing Mumbai’s entrepreneurial prowess. As these startups flourish, they also influence the real estate market, driving demand for office spaces, incubators and residential properties. This article delves into Mumbai’s top startup companies, providing insights into their remarkable journeys and footprints in the real estate market.

 

Business landscape in India

Mumbai, a global megacity, plays a pivotal role in India’s business landscape. As the nation’s financial hub, it boasts a dynamic and diverse economic ecosystem spanning finance, entertainment, technology and manufacturing. The city’s stock exchange, Bollywood industry and thriving startup sector contribute to its economic vibrancy. Mumbai’s appeal lies in its mix of multinational corporations and entrepreneurial ventures, attracting professionals and investors alike. This bustling metropolis, marked by remarkable urbanisation, plays a pivotal role in India’s economic growth, illustrating the intricate relationship between urban expansion and business development in the region.

 

List of top startup companies in Mumbai

WhiteHat Jr

• Industry: Education
• Company Type: Private
• Location: Jogeshwari-Vikhroli Link Road Andheri East Mumbai, Maharashtra – 400059
• Founded in: 2018

WhiteHat Jr, founded in 2018, aims to empower the younger generation with coding skills. Its live online classes, taught by the top 1% of selected teachers, focus on fundamental coding concepts, logic, and problem-solving. WhiteHat Jr. equips children aged 6-18 with the ability to create websites, animations and apps, nurturing the next generation of tech innovators.

 

UpGrad

• Industry: Education
• Company Type: Private
• Location: Dr Annie Besant Rd, Worli, Mumbai, Maharashtra – 400018
• Founded in: 2015

UpGrad, established in 2015, addresses the need for continuous upskilling in the rapidly evolving professional landscape. Offering a range of diploma and certification courses in areas like data science, digital marketing and entrepreneurship, UpGrad provides industry-relevant education. Its immersive online learning experience prepares working professionals for the careers of tomorrow.

 

CMS IT Services

• Industry: Information Technology
• Company Type: Private
• Location: Marol Maroshi Road, Marol, Andheri East, Mumbai – 400 059
• Founded in: 2014

CMS IT Services is a leading player in Managed IT services and system integration. CMS IT specialises in cloud, digital, automation, and cybersecurity services and helps businesses optimise technologies and enhance operational efficiency. Focusing on personalised solutions, it caters to diverse sectors, including banking, insurance, manufacturing and healthcare.

 

Cogoport

• Industry: Logistics and Transportation
• Company Type: Private
• Location: Kondivita, Andheri East, Mumbai, Maharashtra – 400069
• Founded in: 2016

Cogoport simplifies international trade and logistics through its Global Trade Platform. Offering services like instant freight rates, transparent market prices, and real-time information, Cogoport streamlines freight booking processes. Its platform facilitates seamless connections between exporters, importers, and logistics providers, making global trade more accessible for businesses of all sizes.

 

Impact Guru

• Industry: Finance and Healthcare
• Company Type: Private
• Location: Gamdevi, Marol, Andheri East, Mumbai, Maharashtra – 400059
• Founded in: 2014

Impact Guru, established in 2014, is India’s leading healthcare financing platform. Focused on healthcare crowdfunding, Impact Guru empowers individuals and communities to raise funds for medical expenses. Its platform has touched millions of lives, enabling users to contribute to critical health cases and making healthcare more accessible and affordable.

 

Ketto

• Industry: Finance and Social Causes
• Company Type: Private
• Location: Sankasth Pada Welfare Society, Andheri East, Mumbai, Maharashtra – 400059
• Founded in: 2012

Ketto, a pioneering online crowdfunding platform, has been instrumental in raising funds for various social, charity and personal causes. With a dedicated team of over 200 professionals, Ketto utilises technology to connect donors with those in need. Its platform has successfully facilitated over 2.8 lakh campaigns, making a substantial social impact.

 

PhonePe

• Industry: Finance and Technology
• Company Type: Private
• Location: Matunga East, Mumbai, Maharashtra – 400019
• Founded in: 2015

PhonePe, headquartered in Bengaluru, is a digital payments and financial services company. Utilising the Unified Payments Interface (UPI), PhonePe enables users to send and receive money, recharge mobiles, pay utility bills, invest, and make various other transactions. With over 44 crore registered users, PhonePe has become a household name in the digital payments landscape.

 

Innovcare Lifesciences

• Industry: Healthcare
• Company Type: Private
• Location: Vasant Vihar Complex, Chembur, Mumbai, Maharashtra – 400074
• Founded in: 2014

Innovcare Lifesciences, founded in Navi Mumbai, specialises in nutraceuticals and functional foods. With a strong focus on research-backed healthcare solutions, Innovcare markets branded products to enhance human health. Its presence spans various medical specialities, including orthopaedics, gynaecology, diabetes, and cardiology.

 

Care24

• Industry: Healthcare and Home Services
• Company Type: Private
• Location: HMPL Surya Nagar, Vikhroli West, Mumbai, Maharashtra – 400079
• Founded in: 2014

Care24 is dedicated to providing personalised healthcare services at home. With a team of trained caregivers, nurses, and physiotherapists, Care24 ensures that patients receive high-quality medical care within the comforts of their homes. Its services encompass various healthcare needs, from post-surgery recovery to palliative care.

 

GoComet

• Industry: Logistics and Technology
• Company Type: Private
• Location: Makwana Rd, Gamdevi, Marol, Mumbai, Maharashtra – 400059
• Founded in: 2016

GoComet, an international logistics company, offers a cutting-edge platform for freight forwarding. Utilising AI and cloud-based technologies, GoComet automates various supply chain functions, including freight rate procurement, container tracking, and invoice reconciliation. Its platform enhances efficiency and transparency in international logistics, benefiting businesses across the globe.

 

KapitalTech

• Industry: Finance and Technology
• Company Type: Private
• Location: A Wing, Elphinstone (W), Mumbai, Maharashtra – 400013
• Founded in: 2014

KapitalTech, a NBFC, specialises in offering working capital loans and merchant cash advance services. Utilising proprietary binary modelling and credit analytics algorithms, KapitalTech provides unsecured loans to merchants with streamlined underwriting processes. Its innovative approach aims to simplify leading for MSMEs, ensuring quick and hassle-free access to credit.

 

Nykaa Fashion

• Industry: Retail, E-Commerce, Cosmetic, Beauty & Wellness
• Company Type: Startups
• Location: Appasaheb Marathe Marg, Century Bazaar, Prabhadevi, Mumbai, Maharashtra – 400025
• Founded in: 2012

In 2012, Falguni Nayar, a former investment banker, envisioned a platform that redefined beauty and fashion shopping in India. Thus, Naykaa Fashion was born. With a customer-centric approach, Nykaa Fashion swiftly amassed a loyal following. By 2018, the company expanded into fashion, offering a curated marketplace. Presently, Naykaa Fashion boasts 1,500+ brands and over 1.8 million products, catering to diverse demographics. Its emphasis on curation, quality, style, and innovative digital experiences has made it a trendsetter in the fashion industry. 

 

BOX8

• Industry: Food and Beverage
• Company: Private
• Location: Marol Cooperative Society, Andheri East, Mumbai, Mumbai – 400059
• Founded in: 2012

BOX8, founded in 2012 by IIT graduates Anshul Gupta and Amit Raj, started as a small outlet serving delectable Desi Meals in convenient boxes. Today, it has grown into a powerhouse delivering over 22,000+ meals daily across multiple cities. Its unique selling points include chef-crafted options, desi taste, efficient technology, and superfast delivery in under 38 mins. BOX8’s blend of technology, logistics, and focus on customer support has made it a favourite among Mumbaikars, ensuring a delightful dining experience every time.

 

Pepperfry

• Industry: E-commerce
• Company type: Private
• Location: Surya Nagar, LBS Road, Vikhroli West, Mumbai, Maharashtra – 400083
• Founded in: 2011

Pepperfry, an online furniture and home decor marketplace, emerged in 2011 to evoke the feeling of ‘home’ worldwide. Ambareesh Murty and Ashish Shah, the visionaries behind Pepperfry, infused technology and homely comfort into its offerings. With products ranging from furniture to kitchen supplies, Pepperfry’s online marketplace became a go-to destination for home essentials. Pepperfry apart is its ability to blend online and offline experience seamlessly. The company’s innovative use of technology, including AR/VR has transformed the way consumers visualise and purchase products for their home.

 

Commercial real estate demand in Mumbai

Office space: Mumbai’s startup wave is reshaping the demand for office spaces. From cosy co-working hubs to high-rise corporate suites, startups scout diverse spaces to foster innovation and collaboration. This quest for the perfect workplace fuels Mumbai’s commercial real estate market, creating a dynamic environment for businesses to thrive.

Rental property: Mumbai’s magnetic pull for startups is reflected in its rental market. Entrepreneurs, driven by ambition, seek affordable yet stylish spaces. The city’s competitive rental scene accommodates these aspirations, offering a spectrum of options that cater to the varying needs of startups, thereby catalysing their growth.

The burgeoning demand for commercial real estate in Mumbai isn’t just a property trend; it’s a city-wide transformation. This surge influences not only the skyline but also the entrepreneurial spirit. It’s not merely about renting a space; it’s about creating innovation hubs, propelling Mumbai as the startup capital and reshaping the city’s economic identity.

 

Impact of startup companies on Mumbai

Startup companies have significantly impacted Mumbai, transforming it into India’s startup hub. They’ve created job opportunities, attracted talent and boosted the local economy. The city’s infrastructure and services have evolved to support these startups, improving living conditions. These startups have contributed to the city’s dynamism, with co-working spaces, tech hubs and networking events becoming commonplace. Mumbai’s skyline is now dotted with the offers of promising startups, further solidifying its reputation as a hub for entrepreneurial growth and economic development.

 

FAQs

How does Mumbai support startups?

Mumbai offers co-working spaces, accelerators, and access to venture capital, fostering a supportive environment for startups.

Which sectors are prominent among startups in Mumbai?

Startups in Mumbai thrive in sectors like fintech, healthcare, e-commerce, and entertainment.

Who are some notable startup companies in Mumbai, and what industries do they operate in?

WhitHat Jr (EdTech), UpGrad (EdTech). CMS IT Services (IT Services), Cogoport (Logistics). Impact Guru (Finance and Healthcare), Ketto (Finance and Social Causes), PhonePE (Finance and technology), Innovcare Lifesciences (Healthcare), Care24 (Healthcare and Home Services), GoComet (Logistics and Technology), KapitalTech (Finance and Technology).

Are there networking events for startups in Mumbai?

There are several networking events in Mumbai, including— Startup pitch sessions, Hackathons, Industry-specific meetups, Facilitating collaboration and knowledge sharing.

How can startups in Mumbai access funding?

Startups can access funding through angel investors, venture capitalists, and government initiatives.

What are some notable startup companies in Mumbai’s education sector?

WhiteHat Jr. and Up Grad are leading startups in Mumbai's education sector, offering coding skills and upskills programs.

What are some challenges faced by startups in Mumbai?

Challenges include high living costs, competition, and the need for continuous innovation.

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com