The startup picture in Gwalior

Venture capital is thin but no longer invisible: only 13 of 361 tracked companies have ever raised outside money. Home Essentials supplied a rare bright headline with an approximately $7.6 million pre-Series B round.

Startups in Gwalior - 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.

Davars

Food processing using traditional methods

est. 1982 · 375 staff · raised outside money

Puneet Davar — CEO & Managing Director

My Mandi

B2B marketplace for cart-pushers, providing a one-stop-shop and value-added services

est. 2021 · 50 staff · raised outside money

Suryansh Rana — Co-Founder · Bachelor of Science University of California

Mahanaaryaman Scindia — Co-Founder

iTokri

iTokri: Indiau2019s only crafts and artwork retailer

est. 2011 · 20 staff · raised outside money

Jia Pamnani — Co-Founder

Nitin Pamnani — Co-Founder · Hindu College

Enviraj

Smart Irrigation Based on Realtime Weather Conditions for efficient water utilization in diverse fields

est. 2017 · raised outside money

Rajdeep Pandey — Founder · BE ITM University

Home Essentials

Digital-first D2C brand offering home organization, kitchen items, and decor

est. 2024 · raised outside money

Divyam Jain — Co-Founder & CMO

Tanishq Jain — Co-Founder & CEO · Harvard University

Instant Rasoi

Provider of ready to eat food products

est. 2016 · raised outside money

Shraddha Khare — Founder & CEO

Muskaan Dreams

Muskaan Dreams: transforming education through digital learning

est. 2014 · raised outside money

Rishi Raj — Co-Founder

Abhishek Dubey — Founder & CEO

Roten.X

Developer of AI-powered prosthetics and assistive devices

est. 2025 · raised outside money

Ayush Sharma — Co-Founder & CFO

Anshit Mishra — Co-Founder & CEO

Savings Point

Online financial planning & investment management platform for investors

est. 2017 · raised outside money

Ashish Bhansali — CEO

Talkfever

Talkfever - One stop platform for social, business & entertainment needs

est. 2020 · raised outside money

Preeti Gupta — Co-Founder

Shivram Verma — Co-Founder & CEO · Mechanical Engineering Example

Saiganesh Enzytech Solutions

Provider of industrial enzymes manufacturing services

est. 2022 · 7 staff · raised outside money

UPROCKET Manufacturing And Consultancy

Manufacturer of smart weighing solutions with AI, IoT, and ERP

est. 2023 · raised outside money

Eminence India

Internet first brand offering multi-category innerwear products for men and women

est. 2008 · raised outside money

Prem Motors

Traditional automobile dealership with physical showrooms and workshops.

est. 1990 · 4,000 staff

Vikash Sharma — CEO

Tropolite

Manufacturer and supplier of bakery, dairy, and culinary ingredients

est. 1982 · 310 staff

Puneet Davar — CEO & Managing Director · Cornell University

FTRpoker

Online portal to play poker

est. 2015 · 238 staff

Vatsal Thirani — Co-Founder

Masti Zone

Gaming zone chain offering a wide range of attractions for all ages

est. 2014 · 152 staff

Ankur Maheshwary — Founder & CEO · Master of Business Administration Esade

Vivaan Solar

Solar powered water solutions for remote areas.

est. 2012 · 67 staff

Ashish Agrawal — Co-Founder

Amit Bansal — Co-Founder

Fidelity Agro

Provider of dairy products

est. 2014 · 59 staff

Rebant Aggarwal — Managing Director

Plus91labs

SaaS-focused system implementor for enterprises

est. 2017 · 56 staff

Jyoti Singh — Co-Founder

Prashant Rana — Co-Founder

Amrutam

Amrutam - Ayurvedic Lifestyle Brand and Wellness Community

est. 2006 · 46 staff

Chandrakanta Gupta — Co-Founder

Ashok Gupta — Co-Founder

Chirayu Pharmaceuticals

Chirayu: Traditional Ayurvedic Remedies for Modern World

est. 1927 · 39 staff

Mahendra Gupta — Owner

Arihant Roadlines

Private equity firm focused on multiple sectors

est. 2005

Achla Mital — Co-Founder

Amit Mittal — Co-Founder

DIGIANA MINING

Provider of salt mining and quarrying services

est. 2014

Tejinder Ghumman — Managing Director

Sukhdev Ghuman — Managing Director

cluster · 47 companies

Business Services

12 founded since 2018

Sub-themes

it services · 23marketing services · 9iot services · 3legal services · 3bpo services · 3digital transformation services · 2

e.g. Plus91labs, d-sys data solutions pvt ltd, Bannstudio Agency

cluster · 40 companies

Consumer

21 founded since 2018 · 3 funded

Sub-themes

local services · 8fashion tech · 6social platforms · 6road transport tech · 4auto e-commerce & content · 4professional consumer services · 3

e.g. iTokri, Aerbabe Service, Carsavaar Transportation Solutions

cluster · 33 companies

Retail

22 founded since 2018 · 5 funded

Sub-themes

horizontal e-commerce · 8fashion tech · 6retailers · 4coupons and deals · 3beauty tech · 3consumer electronics e-commerce · 2

e.g. My Mandi, Amrutam, iTokri

cluster · 31 companies

Enterprise Applications

15 founded since 2018 · 1 funded

Sub-themes

hrtech · 10enterprise resource planning · 6marketingtech · 5k-12 edtech · 5manufacturing tech · 2higher education tech · 2

e.g. UPROCKET Manufacturing And Consultancy, Addmen, Business Junction

cluster · 31 companies

Education

7 founded since 2018

Sub-themes

k-12 schools · 15higher education institutions · 7continuing education centres · 2academic tutoring · 2k-12 edtech · 2educational support services · 2

e.g. ITM University, SriRam College of Engineering And Management, Admen Group

cluster · 26 companies

Edtech

12 founded since 2018

Sub-themes

k-12 edtech · 15enterprise resource planning · 5higher education tech · 5test preparation tech · 5continued learning · 4academic tutoring · 2

e.g. Aaradhyai, Acadiv, Addmen

cluster · 23 companies

Food And Agriculture

7 founded since 2018 · 2 funded

Sub-themes

food & beverage products · 10food processing · 7services for crop farming · 3field crops · 1food service chains · 1restaurant franchisees · 1

e.g. Davars, Tropolite, Fidelity Agro

cluster · 22 companies

Healthcare

10 founded since 2018

Sub-themes

hospitals · 4clinics · 4alternative medicine products · 3home healthcare · 3traditional nutraceuticals · 2medical device distributors · 1

e.g. Kailash Super Speciality Hospital, Chirayu Pharmaceuticals, Modern Health Products

cluster · 21 companies

Consumer Goods

7 founded since 2018 · 4 funded

Sub-themes

food & beverage products · 10home furnishing products · 4apparel brands · 3beauty & personal care products · 2beauty tech · 1diversified consumer electronics brands · 1

e.g. Davars, Tropolite, Fidelity Agro

cluster · 15 companies

Media & Entertainment

8 founded since 2018 · 1 funded

Sub-themes

social platforms · 6internet first media · 3healthcare it · 2online health information · 2book tech · 2tech for digital publishers · 1

e.g. FTRpoker, Bookadda, Buks Kart

Founder & Background	Role	Company
Puneet Davar Tropilite Foods. Cornell University MBA	CEO & Managing Director	Davars
Suryansh Rana Ex-Canoo, Romeo Power Technology. UCLA BS 2019	Co-Founder	My Mandi
Mahanaaryaman Scindia Green Rider Technology, ex-Undersounds Entertainment, ex-Boston Consulting, The Doon school, 2014	Co-Founder	My Mandi
Jia Pamnani Co-Founder-iTokri	Co-Founder	iTokri
Nitin Pamnani Hindu College Delhi MS 2004	Co-Founder	iTokri
Rajdeep Pandey Ex-Leuven MindGate, Arcadis. ITM University BE 2014	Founder	Enviraj
Divyam Jain Co-Founder & CMO-Ecommify Media,Digi Clan \| Jaypee Institute Of Information Technology, Noida BTech 2022	Co-Founder & CMO	Home Essentials
Tanishq Jain Co-Founder & CEO-HomeEssentials	Co-Founder & CEO	Home Essentials
Rishi Raj ITM UNIVERSITY, GWALIOR 2019	Co-Founder	Muskaan Dreams
Abhishek Dubey Forbes. ITM UNIVERSITY, GWALIOR BTech 2016	Founder & CEO	Muskaan Dreams
Ayush Sharma ITM Gwalior BTech 2025	Co-Founder & CFO	Roten.X
Anshit Mishra Co-Founder Glanceme.Ai. ITM University Gwalior BTech 2025	Co-Founder & CEO	Roten.X
Preeti Gupta Co-Founder-Talkfever	Co-Founder	Talkfever
Shivram Verma Co-Founder & CEO TALKFEVER \| Institute of Mechanical Engineers 1996	Co-Founder & CEO	Talkfever
Puneet Davar Cornell University	CEO & Managing Director	Tropolite
Vatsal Thirani Quadnet Poker Network, ex-Quadrific Media, ex-Ftr Poker, Manipal University, 2011	Co-Founder	FTRpoker
Ankur Maheshwary IAAPI, ex-Amdocs, Infosys Technologies. Delhi College of Engineering BE 2005, Esade MBA 2010	Founder & CEO	Masti Zone
Ashish Agrawal Ex-ICRA. Visvesvaraya Technological University BE 2005, IIM Kozhikode MBA	Co-Founder	Vivaan Solar
Amit Bansal Co-Founder HYGENCO. IIT Bombay - Shailesh J. Mehta School of Management MBA 2010	Co-Founder	Vivaan Solar
Aashish Gupta Co-Founder HYGENCO, ex-BlueSky Travel Systems. The University of Edinburgh MS 2007	Co-Founder	Vivaan Solar

backgrounds shown where available

32 investors are on record backing Gwalior companies. The most committed:

Most active — backed 2+ companies

Ratan Tata

Sandeep Narang

Institutional

Real Time Accelerator Fund · accelerator / incubatorIIMA Ventures · VC fundVenture Up India · VC fundStartup Incubation and Innovation Centre · accelerator / incubatorTIDES · accelerator / incubatorIndia Quotient · VC fund

Private & corporate backers

Ratan TataSandeep NarangPuneet DavarMeera DavarLetsVentureAngel ListThe Rise FundSumant Bharat RamShashwat GuptaEarthfinancialadvisors+ 16 more

hover a name to see who they backed

Funded startups — peer cities

Indore

181

Bhopal

14Agra

13Gwalior

12Prayagraj

Companies that have raised

Company	Industry	Rounds	Latest Round	Founded
Davars	food & beverages	1	2011-05	1982
Saiganesh Enzytech Solutions	chemicals	1	2023-01	2022
UPROCKET Manufacturing And Consultancy	industrial automation	0	—	2023
Eminence India	apparel & fashion	0	—	2008
Enviraj	environmental services	0	—	2017
Home Essentials	retail	0	2026-02	2024
Instant Rasoi	food production	0	—	2016
iTokri	retail	1	2015-03	2011
Muskaan Dreams	non-profit organization management	0	—	2014
My Mandi	computer software	3	2023-09	2021
Roten.X	medical devices	0	—	2025
Savings Point	financial services	0	—	2017
Talkfever	information technology and services	0	2025-11	2020

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

Company	Industry	Founded	Employees
CoachingKhojo	e-learning	2025	—
Gwalior Distilleries	beverages	2025	—
Zeno	computer software	2025	—
Kabadigo	environmental services	2025	—
LitAmor	social/platform software	2025	—
New Ak Traders	construction	2025	—
Roten.X	medical devices	2025	—
Thefoundationschool	education management	2025	—
Vape Smoke India	consumer goods	2025	—
XPI	financial services	2025	—
Alexia Bio Consult	pharmaceuticals	2024	—
Bharattapp	marketing and advertising	2024	—
Ekanga	health, wellness and fitness	2024	—
Home Essentials	retail	2024	—
Hariram Rochiram Auto	automotive	2024	—
LetsWear	apparel & fashion	2024	—
NaniWeavers	apparel & fashion	2024	—
Pillswift	pharmaceuticals	2024	—
Praavi	financial services	2024	—
Pramonster Protein	health, wellness and fitness	2024	—

The startup picture in Gwalior

Davars

My Mandi

iTokri

Enviraj

Home Essentials

Instant Rasoi

Muskaan Dreams

Roten.X

Savings Point

Talkfever

Saiganesh Enzytech Solutions

UPROCKET Manufacturing And Consultancy

Eminence India

Prem Motors

Tropolite

FTRpoker

Masti Zone

Vivaan Solar

Fidelity Agro

Plus91labs

Amrutam

Chirayu Pharmaceuticals

Arihant Roadlines

DIGIANA MINING

Business Services

Consumer

Retail

Enterprise Applications

Education

Edtech

Food And Agriculture

Healthcare

Consumer Goods

Media & Entertainment

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