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STARTUP ANALYTICS FOR

Indian Institute of Management Ahmedabad (U-1016)

HEI Startup Ecosystem Ranking

5 th

Among all 158 Institutes of National Importance (INIs)

7

Among all 404 HEIs

Incubators

2

Startups

824

+ 0.36 %

last 12 mos

Total Investment

₹1.32T

+ 3.29 %

last 12 mos

Total Loan

₹489.38B

Total Jobs

65.55K

Aggregate Revenue

₹11.44B

FY25

1 startups

Aggregate
Valuation

₹2.35T

Total Realised
Value

₹1.82T

Unicorns

9

IPOs

8

Startup
Patents

1,373

Startup Landscape in India

Startups Incorporated

Top-10 Sectors of Startups

Startups by Age

Aggregate Startup Revenues

Startups by Technology Readiness Level (TRL)

Investment from Equity Funding

Capital from Debt Funding

Startups by Category

Startups by Funding Stage

List of all Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	Delhivery	2011	IPO	Public company — kindly refer market data for real-time information				16	—	3.70	4.08K
2	PharmEasy	2019	Series B	₹144.38B	₹422.00B (2021)	—	8	—	—	4.20	15.91K
3	FirstCry	2010	IPO	Public company — kindly refer market data for real-time information				—	—	4.46	939.60K
4	Fractal	2000	Series D and above	₹63.78B	₹74.43B (2022)	₹4.82B	4,559	31	—	4.50	201
5	CleanMax	2010	Series D and above	₹61.61B	₹21.43B (2021)	₹96.80B	—	—	—	4.40	17

1 - 5 out of 824 Startups

List of Incubated Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	JAI KISAN	2017	Series D and above	₹8.11B	₹14.91B (2022)	₹2.54B	94	—	—	3.70	356
2	AgniKul Cosmos	2017	Series D and above	₹6.41B	₹15.68B (2023)	₹208.96M	253	53	—	4.00	51
3	Kaleidofin	2017	Series D and above	₹4.10B	₹2.75B (2022)	₹195.00M	97	—	—	4.20	17
4	IdeaForge	2007	IPO	Public company — kindly refer market data for real-time information				139	Level 9 (2022-23)	4.40	211
5	Detect Technologies	2016	Series D and above	₹3.66B	₹10.97B (2022)	₹90.00M	316	7	—	4.80	57

1 - 5 out of 318 Incubated Startups

List of Faculty Founded Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	NAKAD	2021	Seed	₹534.30M	₹1.86B (2022)	—	65	—	—	—	—
2	BEFOREST	2018	—	—	—	—	27	—	—	4.40	5
3	TERITREE	2012	Struck Off, Liquidated or Dissolved	—	—	—	—	—	—	4.30	1.92K

1 - 3 out of 3 Faculty Founded Startups

List of Student Founded Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	Absolute	2016	Series D and above	₹8.77B	—	₹475.00M	150	2	—	4.80	4
2	Unbox Robotics	2019	Series A	₹874.41M	₹1.89B (2021)	₹160.00M	97	7	—	5.00	1
3	WOW Express	2014	Series A	₹513.90M	₹828.00M (2018)	—	1	—	—	4.00	3
4	HELLO ENGLISH	2010	Series B	₹381.20M	₹1.08B (2015)	—	1	—	—	0.00	—
5	Studio Sirah	2020	Seed	₹271.42M	—	—	25	—	—	4.50	2

1 - 5 out of 55 Student Founded Startups

List of Alumni Founded Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	Delhivery	2011	IPO	Public company — kindly refer market data for real-time information				16	—	3.70	4.08K
2	PharmEasy	2019	Series B	₹144.38B	₹422.00B (2021)	—	8	—	—	4.20	15.91K
3	FirstCry	2010	IPO	Public company — kindly refer market data for real-time information				—	—	4.46	939.60K
4	Fractal	2000	Series D and above	₹63.78B	₹74.43B (2022)	₹4.82B	4,559	31	—	4.50	201
5	CleanMax	2010	Series D and above	₹61.61B	₹21.43B (2021)	₹96.80B	—	—	—	4.40	17

1 - 5 out of 392 Alumni Founded Startups

List of IPO Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	Delhivery	2011	IPO	Public company — kindly refer market data for real-time information	16	—	3.70	4.08K
2	FirstCry	2010	IPO	Public company — kindly refer market data for real-time information	—	—	4.46	939.60K
3	Urban Company	2014	IPO	Public company — kindly refer market data for real-time information	—	—	3.20	4.64K
4	NYKAA.COM	2012	IPO	Public company — kindly refer market data for real-time information	—	—	—	—
5	IdeaForge	2007	IPO	Public company — kindly refer market data for real-time information	139	Level 9 (2022-23)	4.40	211

1 - 5 out of 8 IPO Startups

List of Unicorn Startups

Sl No.	Startup Name	Founded Year	Startup Status	Total Funding	Latest Available Valuation	Total Loan	No. of Jobs	No. of Patents	TRL	Avg. Public Rating	No. of Public Ratings
1	PharmEasy	2019	Series B	₹144.38B	₹422.00B (2021)	—	8	—	—	4.20	15.91K
2	Fractal	2000	Series D and above	₹63.78B	₹74.43B (2022)	₹4.82B	4,559	31	—	4.50	201
3	BharatPe	2018	Series D and above	₹60.67B	₹212.32B (2021)	₹6.15B	644	—	—	3.89	334.50K
4	OfBusiness	2015	Series D and above	₹57.79B	₹366.25B (2021)	₹28.35B	805	—	—	4.90	576
5	Purplle	2011	Series D and above	₹52.15B	₹86.02B (2022)	₹1.37B	604	—	—	—	—

1 - 5 out of 9 Unicorn Startups

List of all Incubators

Sl No.	Incubator Name	No. of Startups Supported	Startups Supported
1	IIMA VENTURES	299	4Climate, 5C Network and 297 more
2	INNOCITY ACCELERATOR MP	25	256 Bits Studio, AKRIVIA BIOSCIENCES PRIVATE LIMITED and 23 more

1 - 2 out of 2 Incubators

Govt. Funds which supported Startups

Sl No.	Govt. Fund Name	No. of Startups Supported	Startups Supported
1	CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES (CGTMSE) SCHEME, MINISTRY OF MSME	63	ACEMICROMATIC MANUFACTURING INTELLIGENCE TECHNOLOGIES PRIVATE LIMITED (in 2022, 2020), ANAKAGE TECHNOLOGIES (in 2023) and 61 more
2	T TECHNOLOGY INCUBATION AND DEVELOPMENT OF ENTREPRENEURS (TIDE) SCHEME, MINISTRY OF ELECTRONICS AND INFORMATION TECHNOLOGY	44	256 Bits Studio (in 2022), AKRIVIA BIOSCIENCES PRIVATE LIMITED (in 2024) and 42 more
3	NIDHI - ENTREPRENEUR-IN-RESIDENCE (NIDHI-EIR), DEPARTMENT OF SCIENCE AND TECHNOLOGY	36	AADIKER INFRASTRUCTURES LLP (in 2018), APURVA SULE (in 2016) and 34 more
4	STARTUP INDIA SEED FUND SCHEME (SISFS)	34	AREETE BUSINESS SOLUTIONS (in 2022), Aaizel Tech Labs (in 2023) and 32 more
5	R RKVY- RAFTAAR AGRI-ENTREPRENEURSHIP PROGRAMME, MINISTRY OF AGRICULTURE AND FARMERS' WELFARE	27	AMBYGOLD MANORAMA FOODS PRIVATE LIMITED (in 2023), AgriGator (in 2020) and 25 more

1 - 5 out of 50 Govt. Funds

Banks & FIs which supported Startups

Sl No.	Bank / Financing Institution Name	No. of Startups Supported	Startups Supported
1	HDFC BANK LIMITED	54	91Springboard (in 2024), AADIKER INFRASTRUCTURES LLP (in 2021) and 52 more
2	ICICI BANKING CORPORATION LIMITED	33	AAA 2 INNOVATE PRIVATE LIMITED (in 2022), APAC Financial Services (in 2022) and 31 more
3	A AXIS TRUSTEE SERVICES LIMITED	26	AI GROWTH PRIVATE LIMITED (in 2024, 2023), ATAMAAI TECHNOLOGY SYSTEMS PRIVATE LIMITED (in 2024) and 24 more
4	KOTAK MAHINDRA BANK LIMITED	23	APAC Financial Services (in 2024, 2022), BLOOMCHEMAG (in 2024) and 21 more
5	AXIS BANK LIMITED	23	ACEMICROMATIC MANUFACTURING INTELLIGENCE TECHNOLOGIES PRIVATE LIMITED (in 2024), APAC Financial Services (in 2024) and 21 more

1 - 5 out of 141 Debt. Funds

Angels who invested in Startups

Sl No.	Angel Name	No. of Startups Invested	Startups Invested
1	Kunal Shah	14	ANS Commerce (in 2021), Fello (in 2023) and 12 more
2	KUNAL BAHL	10	ANS Commerce (in 2021), Culture Circle (in 2025) and 8 more
3	Rohit Bansal	9	ANS Commerce (in 2021), Koparo Clean (in 2021) and 7 more
4	ABHISHEK GOYAL	7	Basil (in 2024), EATLO TECH SOLUTIONS (in 2015) and 5 more
5	RAGHUNANDAN G	7	BHIVE Workspace (in 2016), Eternz (in 2025) and 5 more

1 - 5 out of 1,163 Angels

VCs who invested in Startups

Sl No.	VC Name	No. of Startups Invested	Startups Invested
1	IIMA VENTURES	71	5C Network (in 2019), AgniKul Cosmos (in 2021, 2020) and 69 more
2	LVX VENTURES (LETSVENTURE), BENGALURU	28	AgniKul Cosmos (in 2023, 2021, 2020), BIDDANO (in 2022, 2020) and 26 more
3	BLUME VENTURES, MUMBAI	25	BHIVE Alts (in 2022), BHIVE Workspace (in 2020, 2017, 2016) and 23 more
4	ANGELLIST	24	BIDDANO (in 2022, 2021, 2019), Cell Propulsion (in 2021) and 22 more
5	VENTURE CATALYSTS ANGELS	23	ANS Commerce (in 2021), AgniKul Cosmos (in 2022) and 21 more

1 - 5 out of 978 VCs

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Information provided here has been integrated and curated from multiple public as well as proprietary sources. All efforts have been taken to make it accurate and complete.

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