Mumbai
Metro area · India · Pop. 22.9M · #25 city by EV
Enterprise value
How much Mumbai’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Mumbai, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
VC investment
How much venture capital flows into Mumbai
VC investment into Mumbai-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Startup funnel
Mumbai's startup funnel
Companies headquartered in Mumbai at each stage today, by total VC raised. Hover a bar for the split.
Source: Dealroom.co
Quarterly report
Mumbai's latest quarter in venture capital
VC raised by Mumbai-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by Mumbai-headquartered companies…
Largest rounds
Largest funding rounds in Mumbai
A live treemap of the largest VC rounds. Each cell is one round into Mumbai-headquartered companies, grouped by Dealroom sector.
Largest rounds in Mumbai - 2026
Academia
Mumbai's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Mumbai.
| # | University | City | Based here | Companies |
|---|---|---|---|---|
| 1 | 🇮🇳IIT Bombay | Mumbai | 22 | 1,927 |
| 2 | 🇮🇳IIT Delhi | New Delhi | 18 | 943 |
Location comparison
How Mumbai stacks up
Compare Mumbai with peers from the same country (India) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top cities in India ranked by combined EV. Mumbai's row is highlighted (#2).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Bengaluru | $298B | 6.4× | 53 | $6.1B | 3,742 |
| 2 | Mumbai | $244B | 14.8× | 27 | $2.8B | 2,053 |
| 3 | Delhi | $229B | 6.1× | 30 | $3B | 2,507 |
| 4 | Pune | $36.9B | 12.1× | 8 | $335M | 543 |
| 5 | Chennai | $30.4B | 6.0× | 10 | $522.9M | 551 |
| 6 | Hyderabad | $30.2B | 6.6× | 4 | $164.4M | 664 |
| 7 | Jaipur | $9.8B | 11.9× | 0 | $27.9M | 129 |
| 8 | Ahmedabad | $8.6B | 11.3× | 2 | $346M | 257 |
More data
Explore Dealroom data →Get the full Mumbai ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.