The Startup Ecosystem of Mumbai
Mumbai has 1,445 startups in our sample database. This represents about 13% of India’s startups. Mumbai is the 3rd best startup ecosystem in India.
CITY RANKING
In 2024, the startup scene of Mumbai developed considerably and increased in the Global Ecosystem Index by 5 spots.
National Ranking
In India
Regional Ranking
In South Asia
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
With a growing number of startups being created in India each year, the country is bustling with more startup energy than ever. The Mumbai startup ecosystem is playing a very important role in India’s burgeoning startup scene and is its financial capital.
The startups in the Mumbai Startup Ecosystem mostly revolve around the financial, consumer services, media and retail sector. The abundance of venture capitalists, growth funds, educational institutions and incubators has propelled Mumbai’s growth in the startup scene.
One of the success stories in Mumbai’s startup ecosystem is one Acko General Insurance, a digital insurance company with a license to underwrite and distribute bite-sized insurance products which succeeded to exceed US $1 billion in valuation. Another example is Upstox, a fintech company that allows innovative investment options for its users. These success stories are proof showcasing Mumbai`s specialization in the fintech industry.
Mumbai also houses the head offices of a number of giant corporations, which means easy access to capital and experienced professionals. The city also offers startups an interesting mix of management and engineering talent, new as well as old. Every year, the city attracts students from all over India, who choose to study in the city owing to its many cosmopolitan attractions and opportunities. The city is home to premier institutes for engineering as well as management.
Startups
Mumbai Top Startup Industries
94 startups
197 startups
71 startups
Unlock with pro
Ecosystem HealthCheck
Mumbai Ecosystem Health Check
The health check tables allow you to look at the performance Mumbai has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
Browse the startup ecosystem database of Mumbai
Become our Mumbai Ecosystem Partner
Startup Ecosystem Charts
Startup Funding in Mumbai2017 - 2024
Startup Funding in Mumbai 2017 - 2024
From 2022 to 2023, startup funding in Mumbai has decreased by 45.14%. During this period, the number of deals in Mumbai has decreased by 38.03%. Since 2017, total startup funding in Mumbai exceeded US$ $39.69B.
Average Funding in 2023
$11.05M
Funding in 2023
$2.43B
Deals in 2023
220
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Mumbai
Global Rank
Mumbai is ranked within the top 30 startup ecosystems globally.
Top Industries
Mumbai’s startups excel particularly in Edtech where it ranks 10 and in Fintech, and Foodtech. Find out more
Top Cities for Startups in India - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 8th 0 | 68.148 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 11th + 2 | 55.680 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 20th + 5 | 36.843 | 00.00 | 00.00 | 00.00 | |
4th + 1 | 65th + 24 | 10.644 | 00.00 | 00.00 | 00.00 | |
5th - 1 | 76th + 2 | 9.576 | 00.00 | 00.00 | 00.00 | |
6th 0 | 81st + 21 | 9.365 | 00.00 | 00.00 | 00.00 | |
7th + 1 | 125th + 70 | 5.912 | 00.00 | 00.00 | 00.00 | |
8th - 1 | 153rd + 28 | 4.232 | 00.00 | 00.00 | 00.00 | |
9th 0 | 209th + 30 | 2.334 | 00.00 | 00.00 | 00.00 | |
10th + 1 | 231st + 156 | 2.034 | 00.00 | 00.00 | 00.00 |
ECOSYSTEM
Why should you join Mumbai's Startup Ecosystem?
Overview
Within Mumbai there is an increased attraction for entrepreneurs to set up their startups in industries such as Edtech, Fintech, Foodtech. These three industries represent about 25% of the startups represented on the Startup Ecosystem Map of Mumbai.
3rd
National Rank
3rd
Regional Rank
Overview
Mumbai is India's 3rd best startup ecosystem and is ranked 3rd in South Asia. With a population of 10M+ people, Mumbai is ranked 20th in the world. The city has some notable startup success stories including PhonePe.
ECOSYSTEM
Startup Infrastructure in Mumbai
BLOG
Recent Posts
Thu Mar 06 2025
The Impact of Government Support on Startups
A robust startup ecosystem creates a sense of community that brings entrepreneurs together and helps them feel less isolated. It gives them access to mentors, advisors, fellow entrepreneurs, and talents. The foundation of such an ecosystem largely relies on government support. Good policies create a fair and supportive environment that helps startups grow. Bad policies […]
Thu Feb 20 2025
Learning from Bulgaria: Stakeholder Engagement in Startup Ecosystems
In this episode of the Startup Ecosystem Podcast, we’re traveling back in time by revisiting an old recording to explore the state of Bulgaria’s startup ecosystem in 2022. This episode features an interview by Eli David Rokah, CEO of StartupBlink, with Momchil Vassilev, the Managing Director of Endeavor Bulgaria, discussing how different stakeholders’ engagement in […]
Wed Feb 12 2025
Top Cities & Countries for Foodtech Startups
Our new report, Winners in the Foodtech Startup Industry, highlights the top 20 countries and 40 cities leading worldwide in the full report. Additional data on 195 cities and 33 countries is available to StartupBlink Pro users. Using extensive data from sources like Semrush and Crunchbase, this report uncovers the leading ecosystems, most promising startups, […]