Funded Energy Startups in Mumbai
Across these 11 Mumbai energy entries, the largest disclosed round is Indian Oil Tanking’s $129M (2022-11-09).
Across these 11 Mumbai energy entries, the largest disclosed round is Indian Oil Tanking’s $129M (2022-11-09). That figure dwarfs the next-largest disclosed amount at Mahindra Susten’s $298M (2022-09-18) and places the remaining disclosed rounds mostly in the single-digit millions, with only SolarSquare Energy at $40M (2024-12-11) standing out above that range. The list also shows a stage split where two-thirds are early-stage or discovery labels: Seed (Promethean Energy $2M on 2025-05-22; BRIGHTBLU $2M on 2022-02-08; ION Energy $4M on 2021-07-01) plus Series A/B (Aerem $12M on 2025-04-04; Magenta Mobility $6M on 2025-03-20; Neuron Energy $3M on 2025-11-25; SolarSquare Energy $40M on 2024-12-11).
Temporally, funding concentrates in two windows: four rounds between 2024-12-11 and 2025-11-25 (SolarSquare Energy, Aerem, Magenta Mobility, Neuron Energy), while the older cluster runs from 2022-09-18 to 2022-11-09 (Mahindra Susten, Waaree, Indian Oil Tanking). Every row lists the same city and state (Mumbai, Maharashtra), and only two entries have undisclosed amounts (SustLabs on 2023-12-19; Waaree has an Undisclosed series label on 2022-10-06), helping keep the comparisons focused on disclosed dollar figures.
Most recent rounds
11 shownRelated listings
Frequently asked
What’s the biggest disclosed round here, and how does it compare to the rest of the disclosed amounts?
Mahindra Susten closed the largest disclosed round at $298M on 2022-09-18. By comparison, the next-largest disclosed amount in the table is Indian Oil Tanking at $129M on 2022-11-09, and most other disclosed rounds fall far lower (e.g., Neuron Energy $3M on 2025-11-25 and BRIGHTBLU $2M on 2022-02-08).
Are there clear funding clusters in the recent dates shown?
Yes. Four of the 11 rows fall within 2024-12-11 to 2025-11-25: SolarSquare Energy ($40M, 2024-12-11), Magenta Mobility ($6M, 2025-03-20), Aerem ($12M, 2025-04-04), and Neuron Energy ($3M, 2025-11-25). A second cluster appears in late 2022, spanning 2022-09-18 to 2022-11-09 (Mahindra Susten $298M, Waaree $121M, Indian Oil Tanking $129M).
Which stage labels dominate, and how often is the stage unclear?
Early-stage labels appear heavily: Seed is used for Promethean Energy ($2M on 2025-05-22), BRIGHTBLU ($2M on 2022-02-08), and ION Energy ($4M on 2021-07-01). There’s also one “Series A” (Aerem $12M on 2025-04-04) and two “Series B” (Magenta Mobility $6M on 2025-03-20; Neuron Energy $3M on 2025-11-25), plus two rows with unclear/disclosure labels: SustLabs uses “Series Unknown” (undisclosed amount) and Waaree uses “Undisclosed” (amount shown as $121M).
Are any entries outliers on disclosed size despite sharing the same city?
The size outliers are concentrated in late 2022: Mahindra Susten’s $298M (2022-09-18), Waaree’s $121M (2022-10-06), and Indian Oil Tanking’s $129M (2022-11-09). Outside that window, the table shows much smaller disclosed amounts such as Neuron Energy $3M (2025-11-25) and Promethean Energy $2M (2025-05-22).
Do all companies tie to the same geography in this view, and what does that imply for city-level concentration?
All 11 rows list Mumbai, Maharashtra, India. With no alternate cities shown, the dataset signals city concentration in Mumbai for this slice of funded energy rounds, rather than cross-city comparison within the same page.
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