The startup picture in Surat

Venture capital is present but thin. Only 132 tracked companies have ever raised outside money, and just 59 are at seed stage. GVFL's ₹13.3 crore backing of Canvaloop, turning farm waste into textiles, is the kind of deal Surat needs more often.

Startups in Surat - Funding, Founders & Investors

Everything startup in one place: who's building, how the landscape clusters, the people and investors behind it, and whether the capital is real.

Garden Silk Mills

Pioneer in Indian polyester textile industry

est. 1920 · 3,198 staff · raised outside money

Praful A Shah — Founder & CEO

Alok Shah — Owner

SMT

Medical Instrument Manufacturer with Wide Portfolio

est. 1998 · 1,041 staff · raised outside money

Bhargav Dhirajlal Kotadia — Managing Director

Ganesh Prasad Sabat — Co-CEO

Aether

Advanced intermediates and speciality chemicals manufacturer with a focus on sustainable growth

est. 2013 · 943 staff · raised outside money

Ashwin Desai — Managing Director

Kalamandir Jewellers

Jewellery brand offering unique collections of bridal, diamond, gold, silver, and antique gold pieces

est. 1986 · 915 staff · raised outside money

Chirag Porwal — CEO

Milan Shah — Owner

Goldi Solar

Manufacturer of solar photovoltaic modules and provider of engineering, procurement, & construction services

est. 2011 · 783 staff · raised outside money

Dhruv Dholakiya — Co-Founder & Director

Ishver Dholakiya — Co-Founder & Managing Director

GIPCL

Gujarat Industries Power Company Ltd (GIPCL), power generation, diversified portfolio, solar projects.

est. 1985 · 653 staff · raised outside money

Vatsala Vasudeva — Managing Director

SISA Group

Traditional security and cash management company with 23 years of experience

est. 1994 · 398 staff · raised outside money

Sameer Sharma — Managing Director · MBA Symbiosis International University

Srinivasa Reddy — CEO

Zota Healthcare

Research-driven pharma company with a strong focus on innovation.

est. 2000 · 392 staff · raised outside money

Moxesh Zota — CEO & MD

Magicrete

Innovative Construction Solutions for Faster and Cheaper Home-Building

est. 2008 · 368 staff · raised outside money

Sidharth Bimal Bansal — Co-Founder · Master of Business Administration Indian Institute of Management Lucknow

Sourabh Bansal — Co-Founder & Managing Director · Master of Technology Indian Institute Of Technology Kharagpur

Vikram Nuvotech

Provider of diversified fabrics manufacturing services

est. 1991 · 343 staff · raised outside money

Anil Chaudhary — CEO

KPI Green Energy

Developer of renewable power plants

est. 2008 · 315 staff · raised outside money

Faruk Patel — Founder & Managing Director & Chairman

Alok Das — Group CEO

XYXX

XYXX - Premium Innerwear made with LenzingMicroModal fabric

est. 2017 · 287 staff · raised outside money

Yogesh Kabra — Co-Founder · Bachelor of Business Administration Bangalore University

Siddhartha Gondal — Co-Founder & CSO · Bachelor of Technology IIT Bombay

JB Ecotex

Manufacturer of recycled polyester staple fiber and food grade resins

est. 2012 · 279 staff · raised outside money

Ayodhyaprasad Singhal — Co-Founder & Director

Jitendrakumar Arya — Co-Founder

Sumeet Industries

Diversified conglomerate in the Indian Polyester Industry

est. 1988 · 259 staff · raised outside money

Sumeet Somani — CEO & MD

Rayzon Solar

Manufacturer of photovoltaic solar modules

est. 2017 · 203 staff · raised outside money

Hardik Kothiya — Co-Founder & Managing Director

K P Energy

Leading BOP Solutions Provider in Wind Energy Industry

est. 1994 · 183 staff · raised outside money

Ashish A Mithani — Director & CEO

Globela Pharma

Globela Pharma- High Quality Raw Materials for Formulation Products and True Customer Service

est. 1996 · 156 staff · raised outside money

Bhanu Vaghashia — CEO & MD · - Unknown

Navitas Solar

Traditional solar energy manufacturing and services company

est. 2013 · 147 staff · raised outside money

Ankit Singhania — Co-Founder & Director of Sales

Vineet Mittal — Co-Founder · Master of Business Administration SPJIMR

Cosmic Pv Power

Solar PV Modules Manufacturing & Renewable Energy Co.

est. 2020 · 132 staff · raised outside money

Jenish Ghael — Co-Founder & Managing Director

French Crown

Premium mens wear with a classic twist from a global brand

est. 2019 · 95 staff · raised outside money

Ilesh Ghevariya — Co-Founder & CEO · Master of Business Administration Lal Bahadur Shastri

Bhavdip Ghevariya — Co-Founder · Bachelor of Commerce VNSGU

GrowiT

Innovative Agri product manufacturer for sustainable and efficient agriculture practices

est. 2020 · 91 staff · raised outside money

Akshay Agarwal — Co-Founder & Technical Director

Saurabh Agarwal — Co-Founder & CEO · Bachelor of Business Administration Cardiff University

Envision Scientific

Provider of nanotechnology-based drug delivery systems

est. 2008 · 75 staff · raised outside money

Manish Doshi — Founder & CEO

Avimee Herbal

Avimee Herbal: Traditional Herbal Hair Oil

est. 2021 · 74 staff · raised outside money

R Choudhary — Co-Founder

Shakuntala Choudhary — Co-Founder

DhiWise

Programming platform for automating app development using AI

est. 2021 · 67 staff · raised outside money

Vishal Virani — Co-Founder & CEO · Bachelor of Engineering GUJARAT TECHNOLOGICAL UNIVERSITY

Rahul Shingala — Co-Founder

cluster · 749 companies

Retail

354 founded since 2018 · 24 funded

Sub-themes

fashion tech · 384apparel brands · 63b2b e-commerce · 61wholesalers · 42b2c e-commerce · 40e-commerce support services · 39

e.g. Pratibha Fabrics, Jinaam, XYXX

cluster · 672 companies

Business Services

247 founded since 2018 · 4 funded

Sub-themes

it services · 427marketing services · 116erp services · 23management consulting services · 19hr services · 17iot services · 16

e.g. Stpl3D, SISA Group, ASK-EHS Engineering & Consultants

cluster · 648 companies

Consumer

329 founded since 2018 · 18 funded

Sub-themes

fashion tech · 382b2c e-commerce · 50apparel brands · 45b2b e-commerce · 35logistics tech · 32b2c fashion e-commerce · 31

e.g. eZee Reservation, eZee Technosys, Artoon Solutions

cluster · 402 companies

Consumer Goods

161 founded since 2018 · 22 funded

Sub-themes

apparel brands · 120fashion accessories · 113food & beverage products · 56fashion tech · 50home furnishing products · 34beauty & personal care products · 29

e.g. Laxmipati Sarees, Kalamandir Jewellers, Pratibha Fabrics

cluster · 268 companies

Enterprise Applications

154 founded since 2018 · 8 funded

Sub-themes

marketingtech · 62hrtech · 38enterprise resource planning · 36sales force automation · 33saas · 25enterprise software · 25

e.g. eZee Absolute, CORE EHS, eZee iFeedback

cluster · 204 companies

Healthcare

78 founded since 2018 · 4 funded

Sub-themes

biopharma outsourcing · 33hospitals · 32pharmaceutical distributors · 31traditional pharmaceuticals · 27clinics · 14clinic chains · 10

e.g. Kiran Hospital, Zota Healthcare, CTX Lifesciences

cluster · 171 companies

Chemicals And Materials

45 founded since 2018 · 7 funded

Sub-themes

textile yarn · 61diversified chemicals · 27polymers · 15dyes pigments and inks · 13chemical distributors · 7cleaning chemicals · 6

e.g. ArcelorMittal, Garden Silk Mills, Colourtex

cluster · 158 companies

Fintech

104 founded since 2018 · 13 funded

Sub-themes

investment tech · 43finance & accounting tech · 40payments · 32alternative lending · 22cryptocurrencies · 10internet first insurance platforms · 4

e.g. NJ Wealth, NJ Technologies, Paisa Nikal

cluster · 142 companies

Real Estate And Construction

42 founded since 2018 · 4 funded

Sub-themes

building materials · 33real estate & infrastructure developers · 30facility management services · 16architects · 15real estate brokers · 10interior designers · 10

e.g. Neo Structo Construction, Magicrete, Rajhans

cluster · 139 companies

Food And Agriculture

58 founded since 2018 · 9 funded

Sub-themes

food & beverage products · 51food distributors · 20food service chains · 16food processing · 15crop inputs · 7restaurants · 6

e.g. Euro India Fresh Foods, Schmitten, Sugar N Spice

Founder & Background	Role	Company
Ashwin Desai Anupam Rasayan India.	Managing Director	Aether
Ashwin Desai Anupam Rasayan India.	Managing Director	Aether
Milan Shah Kalamandir Jewellers	Owner	Kalamandir Jewellers
Dhruv Dholakiya Co-Founder & Director-Goldi Solar	Co-Founder & Director	Goldi Solar
Ishver Dholakiya Co-Founder & Managing Director-Goldi Solar \| Ex-SRK EXPORT	Co-Founder & Managing Director	Goldi Solar
Sameer Sharma Managing Director-SISA Group	Managing Director	SISA Group
Srinivasa Reddy CEO-SISA Group	CEO	SISA Group
Rajesh Paul CEO & COO-sisa security	CEO & COO	SISA Group
Sidharth Bimal Bansal Ex-Lighthouse Funds, McKinsey. IIM Lucknow MBA 2008	Co-Founder	Magicrete
Sourabh Bansal IIT Kharagpur BTech MTech 2007	Co-Founder & Managing Director	Magicrete
Puneet Mittal Navitas Green Solutions, RENON INDIA, Coppermint Global, ikoverk Co-working. SPB college 2005, Veer Narmad South Gujarat Universit	Co-Founder	Magicrete
Faruk Patel KP Group.	Founder & Managing Director & Chairman	KPI Green Energy
Alok Das CEO-KP Group \| Ex-Suzlon Group,Reliance Energy,NEPC INDIA \| IIT Kanpur	Group CEO	KPI Green Energy
Yogesh Kabra Gee Aar tex. Bangalore University BBA 2009, Hult International Business School MBA 2014	Co-Founder	XYXX
Siddhartha Gondal Ex-CARS24, Aditya Birla Fashion & Retail, Covestro, Tata Strategic Management Group. IIT Bombay BTech 2009, Indian School of Busin	Co-Founder & CSO	XYXX
Ayodhyaprasad Singhal Jb Craft Paper \| Jai Narain Vyas University, 1999	Co-Founder & Director	JB Ecotex
Jitendrakumar Arya Co-Founder-JB Ecotex	Co-Founder	JB Ecotex
Hardik Kothiya Gujarat University BE 2015.	Co-Founder & Managing Director	Rayzon Solar
Ashish A Mithani Ex-Director & CEO- KP Group of Companies Ex-Director- VSM Projects Ex-Business Head- Harsh Distributors Ex-Executive- Reliance	Director & CEO	K P Energy
Bhanu Vaghashia - Unknown	CEO & MD	Globela Pharma

backgrounds shown where available

1,002 investors are on record backing Surat companies. The most committed:

Most active — backed 2+ companies

Gujarat Venture Finance

Speed And Scale Incubators

Gaurav Singhvi

IVY Growth Associates

Illuminati Clan

GSV

3Puneet Mittal

3NJ Finbuzz

3Abhishek Dalmia

3Gaurav Juneja

3Softsol Mediatech

3We Founder Circle

Institutional

Gujarat Venture Finance · VC fundSpeed And Scale Incubators · accelerator / incubatorIlluminati Clan · VC fundGSV · VC fundWe Founder Circle · VC fundDholakia Ventures · VC funda4X · accelerator / incubatori-Hub · accelerator / incubatorempoWer · accelerator / incubatorPlug and Play Tech Center · VC fundUpaya Social Ventures · accelerator / incubatorGujarat University Startup and Entrepreneurship Council · accelerator / incubatorCanbank Venture Capital Fund · VC fundDSG Consumer Partners · VC fund+ 70 more

Private & corporate backers

Gaurav SinghviIVY Growth AssociatesPuneet MittalNJ FinbuzzAbhishek DalmiaGaurav JunejaSoftsol MediatechSaurabh AgrawalRaj RaniVimal Ambani+ 908 more

hover a name to see who they backed

Funded startups — peer cities

Pune

1,313

Ahmedabad

881

181Indore

132Surat

108Nagpur

Companies that have raised

Company	Industry	Rounds	Latest Round	Founded
SMT	medical devices	5	2023-01	1998
Navitas Solar	renewables & environment	2	2023-05	2013
Kalamandir Jewellers	luxury goods & jewelry	1	2011-03	1986
Winsome Diamonds and Jewellery	electrical/electronic manufacturing	0	—	1985
Wishbook	information technology and services	2	2019-02	2014
Wobble Base Bioresearch	biotechnology	1	2014-09	2013
WooHoo	marketing and advertising	0	—	2015
Xsquads	information technology and services	0	2025-08	2016
XYXX	apparel & fashion	9	2025-02	2017
Responscity	computer software	1	2018-02	2016
Rivera Foods	food production	0	—	2018
RoboFunLab	education management	1	2022-08	2016
Rocket	computer software	0	2025-09	2021
RoyalPOS	consumer services	1	2023-02	2018
Inddus	textiles	1	2024-01	2011
Bigbloc Building Elements	building materials	0	2022-07	2022
Madhav Solar Energy	renewables & environment	0	2026-01	2017
11za	computer software	2	2023-06	2022
Aaron Industries	mechanical or industrial engineering	0	—	2013
Ace Tours- Ace1World	leisure, travel & tourism	1	2010-06	1996
AdKrity	marketing and advertising	1	2023-05	2021
Aether	chemicals	2	2023-07	2013
Alpino Health Foods	food production	4	2024-09	2016
Ami organics	pharmaceuticals	1	—	2007
AP Lifescience	medical devices	0	2019-05	2020

round amounts sparse for tier-3 cities — counts shown, dollar totals withheld

Company	Industry	Founded	Employees
Artha.link	internet	2026	—
Fayda Bazaar	apparel & fashion	2026	—
ShipReward	logistics and supply chain	2026	—
Toolsindia.net	automotive	2025	—
Diamor	luxury goods & jewelry	2025	—
Apycue	hospitality	2025	—
Safgen	medical devices	2025	—
Xylm	legal services	2025	—
Saral AI	human resources	2025	—
Actiza Industry	pharmaceuticals	2025	—
AnyStory	computer software	2025	—
Aqaba.ai	computer software	2025	—
Aristos Advisory	investment banking	2025	—
Artha Job Board	computer software	2025	—
BlinkPic	internet	2025	—
CashNquiz	entertainment	2025	—
Dayno.ai	internet	2025	—
Drigya Technology	industrial automation	2025	—
DS Fashion	apparel & fashion	2025	—
Ethnic N More	apparel & fashion	2025	—

The startup picture in Surat

Garden Silk Mills

SMT

Aether

Kalamandir Jewellers

Goldi Solar

GIPCL

SISA Group

Zota Healthcare

Magicrete

Vikram Nuvotech

KPI Green Energy

XYXX

JB Ecotex

Sumeet Industries

Rayzon Solar

K P Energy

Globela Pharma

Navitas Solar

Cosmic Pv Power

French Crown

GrowiT

Envision Scientific

Avimee Herbal

DhiWise

Retail

Business Services

Consumer

Consumer Goods

Enterprise Applications

Healthcare

Chemicals And Materials

Fintech

Real Estate And Construction

Food And Agriculture

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