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Prism Geo · India · Madhya Pradesh · Indore · The startup picture in Indore
Startups · Indore

The startup picture in Indore

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

AI verdict · codex · ground-checked

Venture funding exists but remains a thin layer. Only 181 of 3856 tracked companies have ever raised outside money, while just 59 are at seed; most of the stage mix is unfunded or deadpooled.

WATCH Watch whether seed-stage firms graduate into repeat funding rather than joining the shutdown count.
AI verdict · codex · ground-checked

Indore's startup pipeline is energetic but fragile. Since 2018, 1417 companies were founded, yet 14.9% of all tracked companies have shut down; only 59 sit at seed, while the stage mix is dominated by unfunded and deadpooled firms.

WATCH Watch whether recent founders survive long enough to move beyond seed.
Who's building in Indore
Pratibha Syntex logo
PS

Pratibha Syntex

Sustainable Knitted Textile Production with Farmer Integration

est. 1997 · 5,062 staff · raised outside money
Shiv Chaudhary — Founder
Shreyaskar Chaudhary — Managing Director · Bachelor of Science The University of Manchester
Sayaji Hotels logo
SH

Sayaji Hotels

Owns and operates The Sayaji Group of hotels

est. 1987 · 1,550 staff · raised outside money
Raoof Razak Dhanani — CEO & CSR
InfoBeans logo
I

InfoBeans

Creating Wow

est. 2000 · 1,380 staff · raised outside money
Siddharth Sethi — Co Founder & CEO
Velnik India logo
VI

Velnik India

Velnik: Traditional Personal Care Products with Good Scalability Potential

est. 2017 · 1,244 staff · raised outside money
Sukhdev Gehlot — Founder & Managing Director · MBA The University of Delhi
Yellow Diamond logo
YD

Yellow Diamond

Prataap Snacks - Traditional Indian Namkeens & Snacks

est. 2003 · 1,215 staff · raised outside money
Arvind Mehta — Co-Founder
Amit Kumat — Co-Founder & CEO
Pushp logo
P

Pushp

Brand of spices & seasonings

est. 1974 · 1,085 staff · raised outside money
Mahendra Surana — Co-Founder
Surendra Surana — Co-Founder
ShopKirana logo
S

ShopKirana

Online distributor for multi-brand products to retailers

est. 2015 · 670 staff · raised outside money
Tanutejas Saraswat — Co-Founder & CEO
Sumit Ghorawat — Co-Founder · Bachelor of Engineering BITS Pilani
Swastika logo
S

Swastika

Swastika Investmart Limited - tech-enabled traditional investment firm

est. 1992 · 658 staff · raised outside money
Sunil Nyati — CEO & Managing Director
STI India logo
SI

STI India

Lotterycodex: Optimizing Lottery Strategies with Informed Decisions

est. 1984 · 591 staff · raised outside money
R B Baheti — Co-Founder
K N Garg — Co-Founder
Tradingo logo
T

Tradingo

Trading app with low brokerage built for speed and safety by IIT alumni and stock veterans

est. 2016 · 578 staff · raised outside money
Parth Nyati — Founder & CEO · BTech IIT Delhi
Simran Farms logo
SF

Simran Farms

Simran Farms: Tech-Enabled Poultry Industry with Automation Systems

est. 1984 · 551 staff · raised outside money
Harender Bhatia — Founder & CEO
Symbiotec logo
S

Symbiotec

Symbiotec: Traditional API Manufacturing with Tech-Enabled Sustainability

est. 2002 · 545 staff · raised outside money
Anil Satwani — Founder & Managing Director
Karthik Srinivasan
Webdunia logo
W

Webdunia

Multi-lingual news platform from India

est. 2000 · 529 staff · raised outside money
Vinay Chhajlani — Founder & CEO
Vippy Spinpro logo
VS

Vippy Spinpro

Cotton yarn spinning industry with state-of-the-art technology

est. 1992 · 375 staff · raised outside money
Piyush Mutha — CEO & MD
Avi Agri logo
AA

Avi Agri

Manufacturer and trader of agri commodities

est. 2009 · 310 staff · raised outside money
Mahendra L Jalori — Director
ArihantPlus logo
A

ArihantPlus

Online stock broker & share trading platform

est. 2021 · 292 staff · raised outside money
Satyartha Srivastava — CEO
EnKing logo
E

EnKing

Carbon credits & business excellence consultancy with global reach

est. 2008 · 232 staff · raised outside money
Manish Dabkara — CEO
Sylph Technologies logo
ST

Sylph Technologies

Software development services firm

est. 1994 · 194 staff · raised outside money
Rajesh Jain — Owner
Serosoft Solutions logo
SS

Serosoft Solutions

Academia - A Comprehensive Student Information System for Educational Institutions

est. 2008 · 190 staff · raised outside money
Arpit Badjatya — Founder & CEO · BS Purdue University
Aakash Global Foods logo
AG

Aakash Global Foods

Aakash Namkeen: Traditional Indian Snacks Manufacturer since 1936

est. 1932 · 175 staff · raised outside money
Rajnish Gupta — CEO & Director
Rajendra Gupta — Co-Founder
TradingBells logo
T

TradingBells

Low cost high value trading experience

est. 2016 · 142 staff · raised outside money
Amit Gupta — Founder & CEO · BCom University of Mumbai
Kimirica logo
K

Kimirica

Personal care brand offering vegan & premium skincare loved by top luxury hotels worldwide

est. 2017 · 126 staff · raised outside money
Rajat Jain — Co-Founder & Co-CEO
Mohit Jain — Co-Founder & Co-CEO · Bachelor of Engineering Rajiv Gandhi Proudyogiki Vishwavidyalaya
DigiValet logo
D

DigiValet

DigiValet: Luxury Brand Experiences through Digital Guest-Room Platform

est. 2008 · 121 staff · raised outside money
Rachana Salgia — Co-Founder
Rahul Salgia — Co-Founder & CEO
Giddh logo
G

Giddh

Automating Indian bookkeeping industry with advanced tech

est. 2012 · 74 staff · raised outside money
Pushpendra Agrawal — Founder & CEO
The startup landscape, clustered
cluster · 828 companies

Business Services

206 founded since 2018 · 18 funded

Sub-themes
it services · 450marketing services · 171hr services · 37ai services · 28management consulting services · 25bpo services · 24

e.g. InnoEye, InfoBeans, Annova Solutions

cluster · 385 companies

Consumer

190 founded since 2018 · 14 funded

Sub-themes
fashion tech · 55logistics tech · 52local services · 51matchmaking · 39wedding tech · 36road transport tech · 32

e.g. Elogistix, Duclean Facility Services, ShopKirana

cluster · 341 companies

Enterprise Applications

164 founded since 2018 · 19 funded

Sub-themes
marketingtech · 79hrtech · 73enterprise software · 45enterprise resource planning · 39saas · 36sales force automation · 33

e.g. FlylightCRM, webdunia, MQSYS Technologies

cluster · 309 companies

Retail

157 founded since 2018 · 18 funded

Sub-themes
fashion tech · 55horizontal e-commerce · 29b2b e-commerce · 29e-commerce enablers · 29beauty tech · 25e-commerce support services · 22

e.g. ShopKirana, Evitamin Business Consulting, Plantix Partner

cluster · 251 companies

Food And Agriculture

61 founded since 2018 · 20 funded

Sub-themes
food & beverage products · 85food processing · 43food distributors · 24crop inputs · 16food service chains · 15restaurants · 9

e.g. Yellow Diamond, Pushp, Kriti Nutrients

cluster · 215 companies

Consumer Goods

74 founded since 2018 · 22 funded

Sub-themes
food & beverage products · 95home furnishing products · 25beauty & personal care products · 24apparel brands · 19home care products · 14fashion accessories · 12

e.g. Commercial Syn Bags, Velnik India, Yellow Diamond

cluster · 203 companies

Healthcare

54 founded since 2018 · 9 funded

Sub-themes
clinics · 26hospitals · 25traditional pharmaceuticals · 23biopharma outsourcing · 19clinic chains · 17alternative medicine products · 13

e.g. Choithram Hospital and Research center, Annova Solutions, Symbiotec

cluster · 171 companies

Fintech

83 founded since 2018 · 17 funded

Sub-themes
investment tech · 100finance & accounting tech · 27payments · 21alternative lending · 13equity research platforms · 9banking tech · 7

e.g. Tradingo, ArihantPlus, TradingBells

cluster · 168 companies

Food And Agriculture Tech

77 founded since 2018 · 13 funded

Sub-themes
crop tech · 62online grocery · 61food tech · 50b2b e-commerce · 15livestock tech · 8food & beverage products · 7

e.g. ShopKirana, UpSale Suite, Plantix Partner

cluster · 149 companies

Real Estate And Construction

44 founded since 2018 · 5 funded

Sub-themes
real estate & infrastructure developers · 33building materials · 24architects · 21real estate brokers · 12construction management services · 12facility management services · 11

e.g. Shreeyam Power And Steel Industries, Kratika Workforce Security Services, Carryfast group

Business models in play
horizontal · 594diversified · 571application development · 331suite · 213multi category · 165full service marketing agency · 154internet first brand · 134multi-category · 132marketplace · 107ecommerce · 95retailer · 91online trading platforms · 75
The people behind them
founder & backgroundrolecompany
Shiv Chaudhary
CHAIRMAN-Pratibha Syntex
FounderPratibha Syntex
Shreyaskar Chaudhary
Managing Director-Pratibha Syntex,The Madhya Pradesh Textile Mills Association | Ex-Confederation of Indian Industry | UMIST, Manc
Managing DirectorPratibha Syntex
Siddharth Sethi
Ex-Zaplet, Bank of America. SGSITS BE 1996, IIM Indore 2006
Co Founder & CEOInfoBeans
Sukhdev Gehlot
Ex-MD Prem Henna. Delhi University MBA 1994
Founder & Managing DirectorVelnik India
Tanutejas Saraswat
Ex-Founder Napster, Co-Founder PaintLyfe.com.
Co-Founder & CEOShopKirana
Sumit Ghorawat
Ex-Procter & Gamble | BITS Pilani BE 2009,Carnegie Mellon University MChE 2011
Co-FounderShopKirana
Parth Nyati
Swastika Investmart, ex-Founder V-Defyn Dance Academy, SumTotal Systems. IIT Delhi BTech 2012
Founder & CEOTradingo
Anil Satwani
Founder & Managing Director-Symbiotec Pharmalab
Founder & Managing DirectorSymbiotec
Karthik Srinivasan
Amazon, ex-Profectus Capital, ex-Actis, Indian Institute of Management, Ahmedabad, 2007
Symbiotec
Vinay Chhajlani
Founder Jaipur Jewels, CEO Naidunia. BITS Pilani BE 1984
Founder & CEOWebdunia
Piyush Mutha
BIT BE 1990, Symbiosis Institute of Business Management MBA 1993
CEO & MDVippy Spinpro
Mahendra L Jalori
Avi Agri Business
DirectorAvi Agri
Satyartha Srivastava
Ex-Upstox, Swiggy , SAP , Quikr, Microland. Meghnad Saha Institute Of Technology BTech 2010, XLRI Jamshedpur 2015
CEOArihantPlus
Manish Dabkara
Managing Director-EKI Energy Services,EnKing International Real Estate & Developers | Ex-ASSOCHAM,CDC KMPI,Asian Development Bank
CEOEnKing
Rajesh Jain
bfxindia.com, Saptahik Malav Anchal, Rajesh Shantillal Jain & Co. The Institute of Chartered Accountants of India 1983
OwnerSylph Technologies
Arpit Badjatya
Ex-Co-Founder CampusMall, Accenture, JP Morgan. Purdue University BS 2004, Catholic University of Leuven 2005, Indian Institute of
Founder & CEOSerosoft Solutions
Rajendra Gupta
Natural Fibres Export.
Co-FounderAakash Global Foods
Rajendra Gupta
Natural Fibres Export.
Co-FounderAakash Global Foods
Amit Gupta
FinOrbit, ex-Barclays, J.P. Morgan. University of Mumbai BCom 2002, The Institute of Chartered Accountants of India CA 2003, S.P.
Founder & CEOTradingBells
Rajat Jain
Co-Founder Kimirica. Gujarat Ayurveda University Jamnagar BPharm
Co-Founder & Co-CEOKimirica

backgrounds shown where available

Investors active in Indore

633 investors are on record backing Indore companies. The most committed:

Most active — backed 2+ companies
AIC-PrestigeAIC-Prestige: 55Sixth Sense VenturesSixth Sense Ventures: 33Better CapitalBetter Capital: 33Lashit SanghviLashit Sanghvi: 33Ministry of Electronics & Ministry of Electronics & Information Technology: 33Rashmi JoshiRashmi Joshi: 22Rajesh MehtaRajesh Mehta: 22Nikhil KhandelwalNikhil Khandelwal: 22Amit KumatAmit Kumat: 22Info Edge VenturesInfo Edge Ventures: 22Angel ListAngel List: 22Nisha FamilyNisha Family: 22
Institutional
AIC-Prestige · accelerator / incubatorInfo Edge Ventures · VC fundNPTK Emerging Asia Fund · VC fundMultiply Ventures · VC fundJITO Incubation & Innovation Foundation · accelerator / incubatorGSF · VC fundPeak XV Partners · VC fundEmerge Capital · VC fundIncubate Fund India · VC fundActivate Venture Partners · VC fundAET Fund · VC fundVSS Investco · VC fundGunosy Capital · VC fund100Unicorns · accelerator / incubator+ 54 more
Private & corporate backers
Sixth Sense VenturesBetter CapitalLashit SanghviMinistry of Electronics & Information TechnologyRashmi JoshiRajesh MehtaNikhil KhandelwalAmit KumatAngel ListNisha Family+ 555 more

hover a name to see who they backed

Venture capital
Funded startups — peer cities
JaipurJaipur: 402402IndoreIndore: 181181LucknowLucknow: 111111NagpurNagpur: 108108BhopalBhopal: 8181
Companies that have raised
companyindustryroundslatest roundfounded
Pushpsupermarkets22023-121974
Prestige Rasoifood & beverages32012-031977
Wag Mobilecomputer software32015-052011
TutorCabinprofessional training & coaching12022-102017
Ignis IT Solutionsinformation technology and services12013-082013
Candytoyconsumer goods02024-112019
Calilique Technologiesautomotive02025
Bidoil Indiainformation technology and services02023
Aakash Global Foodsfood production01932
Aaroghospital & health care12018-032004
Agileaninformation technology and services02015
Agroha Enterprisesfood production22008-061997
Anaxee Technologiesinformation services62020-032007
Arc Roboticsmachinery (b2b)22024-042021
ArihantPlusfinancial services02021
Arivihane-learning22025-072019
Arogya Retailpharmaceuticals02018-052016
Artison Agrotechhome furnishings02008
Avi Agrifood production12012-032009
Blazeinformation technology and services02018
Bookzyspecialty retail02020
BuildPancomputer software32021-022019
Cargopod Solutionsarchitecture & planning02017
CarraGreenconsumer goods12022-032018
CastNXelectrical/electronic manufacturing12024-102020

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

Founded by year
2025: 372008202537
Stages
UnfundedUnfunded: 2,1002,100DeadpooledDeadpooled: 577577Funding RaisedFunding Raised: 7171PublicPublic: 6161SeedSeed: 5959AcquiredAcquired: 2525Series ASeries A: 1010PrivatePrivate: 88Series BSeries B: 33Early StageEarly Stage: 22
Recent founds (2018+)
companyindustryfoundedemployees
The Balance Martinternet2025
Hoppin Candy Toyfood production2025
Calilique Technologiesautomotive2025
Droplycosmetics2025
2dev.aie-learning2025
Acadine AIcomputer software2025
AgentsVersecomputer software2025
Airnet360telecommunications2025
Balaji Coalmining & metals2025
Bazarseinternet2025
Best Products By MKconsumer electronics2025
Cleaning Services MPconsumer services2025
Dry Bazaarautomotive2025
Eatnackfood & beverages2025
Fashcycleinternet2025
FeatureFlowcomputer software2025
Genieplex Technologieshospital & health care2025
Golden Pearl Defense Systemsdefense & space2025
Hamperfry Giftingretail2025
HRMSCloudhuman resources2025

gate: ≥150 companies & ≥20 recent founds — passed (3856/1417)