Maharashtra is a major center for business in India, with a strong presence in finance, logistics, and technology. The region is home to both new ventures and established industry leaders.
Companies like PhonePe and Zepto have attracted significant investment, raising $2.6 billion and $2.4 billion respectively. This list explores the top 100 companies defining the state's economic landscape.
Below is our list of 100 Maharashtra startups worth keeping an eye on.
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Get the Sheet for $50Zepto operates a quick-commerce platform that delivers groceries and other daily essentials. The company uses a network of strategically placed fulfillment centers to get orders to a customer's door within minutes.
| Year Founded | 2021 |
| Founders | Aadit Palicha, Kaivalya Vohra |
| Funding Amount | $2.4B |
| Startup Size | Enterprise Organization (5,001+) |
| Last Funding Status | Secondary Market |
| Top Investors | General Catalyst, Lightspeed Venture Partners, Nexus Venture Partners, Y Combinator, Goodwater Capital |
MarketsandMarkets publishes strategic analysis reports for a global B2B clientele. The firm provides quantified market research and consulting to help companies navigate emerging industries and opportunities.
| Year Founded | 2010 |
| Founders | Sandeep Sugla |
| Funding Amount | $56M |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Private Equity |
| Top Investors | FTV Capital, Zodius Capital |
Jupiter offers a digital banking app that provides smart insights based on spending habits. The platform includes features designed to help users make better sense of their personal finances.
| Year Founded | 2019 |
| Founders | Jitendra Gupta |
| Funding Amount | $169.5M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | QED Investors, Peak XV Partners, Z47, 3one4 Capital, Tiger Global Management |
Weaver Services develops a fintech platform that provides financial solutions for the affordable housing market. Their software aims to simplify the home loan process, making it more accessible to customers.
| Year Founded | 2024 |
| Founders | Satrajit Bhattacharya |
| Funding Amount | $170M |
| Startup Size | — |
| Last Funding Status | Venture Round |
| Top Investors | Lightspeed India Partners, Gaja Capital, Premji Invest |
Akasa Air launched as India's newest airline, offering affordable flights to major cities across the country. The carrier is building a reputation for dependable service and a focus on the customer experience.
| Year Founded | 2021 |
| Founders | Aditya Ghosh, Aditya Ghosh, Anand Srinivasan, Belson Coutinho, Bhavin Joshi, Neelu Khatri, Niraj Dube, Praveen Iyer, Sanjay Dube, Vinay Dube |
| Funding Amount | $160M |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | 360 ONE Asset, Claypond Capital, Premji Invest, AJ Capital, Rakesh Jhunjhunwala |
InCred operates a financial services platform designed to streamline the process of securing personal, education, and business loans. Their technology-driven approach offers a more accessible and efficient borrowing experience for a wide range of customers.
| Year Founded | 2016 |
| Founders | Bhupinder Singh |
| Funding Amount | $428.3M |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Debt Financing |
| Top Investors | Yubi, Neo Asset Management, OAKS Asset Management, Paragon Partners, India, FMO |
The National Stock Exchange of India operates the country's leading stock exchange with a fully-automated, screen-based trading system. The platform enables investors to trade a wide range of financial instruments, from equities and derivatives to debt securities.
| Year Founded | 1998 |
| Founders | — |
| Funding Amount | ₹21.1B |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | Citi, General Atlantic, TA Associates, Morgan Stanley, Goldman Sachs |
Air India operates an extensive network of passenger and cargo flights, connecting India with destinations across the globe. The legacy carrier offers both domestic and international air transport services.
| Year Founded | 1932 |
| Founders | Jehangir Tata |
| Funding Amount | $1.4B |
| Startup Size | Enterprise Organization (5,001+) |
| Last Funding Status | Debt Financing |
| Top Investors | Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Singapore Airlines, Tata Sons, Bank of India |
PhonePe offers a digital payments platform that allows users to transfer money, pay bills, and manage their finances from their smartphones. The app has become one of India's leading solutions for digital transactions, simplifying commerce for millions of people across the country.
| Year Founded | 2015 |
| Founders | Burzin Engineer, Rahul Chari, Sameer Nigam |
| Funding Amount | $2.6B |
| Startup Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | General Atlantic, Ribbit Capital, Tiger Global Management, Tencent, Walmart |
Flipspaces operates as a design-tech firm that handles the interior design and execution for commercial spaces. They are known for a VR-enabled platform that allows businesses to visualize and experience their new interiors before construction starts.
| Year Founded | 2011 |
| Founders | Ankur Muchhal, Kunal Sharma |
| Funding Amount | $60.7M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | SMBC Asia Rising Fund, Iron Pillar, Panthera Growth Partners, Unitus Capital, Crescent Enterprises |
90 Additional Maharashtra Startups Worth Following
The top 10 are just a small slice of what’s happening across Maharashtra right now. Founders are building in many areas, especially in fintech and retail, raising over $50 billion combined.
Some companies are just getting started, while others are scaling quickly. Here’s a look at the other startups that make the state's ecosystem so strong.