Mumbai
Metro area · India · Pop. 22.9M · #25 city by EV
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
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
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.
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 | $300B | 6.4× | 53 | $6.1B | 3,725 |
| 2 | Mumbai | $244B | 15.4× | 27 | $2.8B | 2,048 |
| 3 | Delhi | $230B | 6.6× | 30 | $3B | 2,497 |
| 4 | Pune | $37.5B | 14.0× | 8 | $334.8M | 542 |
| 5 | Hyderabad | $29.6B | 6.5× | 4 | $164.4M | 662 |
| 6 | Chennai | $29.4B | 6.9× | 9 | $522.9M | 552 |
| 7 | Jaipur | $9.8B | 11.9× | 0 | $27.9M | 129 |
| 8 | Ahmedabad | $8.3B | 10.9× | 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.