From Silent Player to Unicorn Factory: Pune’s Startup Evolution

Ever wonder where India’s IT giant Infosys started? 

Surprise! It wasn’t in Bengaluru, but Pune. 

That’s right. Infosys began as a small venture with $250 and seven engineers in Pune back in 1981 before relocating to Bengaluru.

But Infosys is just the tip of Pune's entrepreneurial iceberg. The city has quietly transformed into a bustling innovation hub, producing unicorns across industries and fostering a thriving startup ecosystem. 

Thanks to its rich industrial base, a steady flow of talent from top academic institutions, and strong government support, Pune’s startup scene is booming. 

So buckle up, because this edition dives deep into the city’s flourishing startup landscape, from key players to the secret sauce fueling its rise to startup stardom.

Pune’s Unicorns: Where Billion-Dollar Dreams Come True

Pune isn’t just raising startups; it's raising unicorns. Here’s a quick peek at some of its star players:

• FirstCry.com (BrainBees Solutions Ltd.) : This baby and kids’ ecommerce platform reached unicorn status in 2020 and made its stock market debut in 2024.
• Icertis : A global leader in cloud-based contract management, this company galloped into the unicorn club in 2019.
• Mindtickle : With its innovative sales-readiness platform, MindTickle became a unicorn in 2021.
• ElasticRun : Connecting retailers with suppliers and financial services, ElasticRun was valued over $1 billion in 2022.
• Rebel Foods : The world’s largest cloud kitchen company serves up culinary delights and a billion-dollar valuation.
• Xpressbees (BusyBees Logistics Solutions Pvt. Ltd.) : Buzzing through India’s logistics scene with swift deliveries, smart warehousing, and seamless fulfilment—no package too far, no job too big.
• Druva India : Guarding your data’s back with cloud-powered protection—backup, recovery, and insights all in one secure, smart platform for today’s digital world.

From Altum to Zvolv: Meet Pune’s Startup Stars

Altum Credo (2014): Making dreams of home ownership real, one affordable loan at a time—because everyone deserves a slice of real estate pie.

AmberStudent (2016): Finding student digs near universities? AmberStudent has you covered. Just like a global roommate matchmaker!

Arcatron Mobility Private Limited (2015): Designing assistive devices so sleek, even the Jetsons would be jealous. Helping people with disabilities live life on their own terms.

Attron Automotive (2015): EV components that are basically the Tesla of electric bits and bobs, promoting a greener tomorrow.

Bike Bazaar (2017): Need financing or insurance for your two-wheeler? Bike Bazaar's got your back, whether you're zipping around on a petrol or electric bike.

BiofuelCircle (2020): Bioenergy matchmaker for buyers and sellers of biomass. Fuel up sustainably without the middlemen.

Clodura.AI (2016): Why chase leads when you can let AI do the heavy lifting? B2B sales just got a major upgrade.

Dice (not the gambling kind): AI-powered decision-making, because who needs guesswork when you have tech that actually knows?

Ecozen (2010): Solar-powered cold storage and irrigation for farmers who want to save both their crops and the planet.

PPS EKA Mobility (2020): Electric buses and commercial vehicles that are as sustainable as they are snazzy. Public transport never looked so green.

eFeed Life Science (2020): Gourmet meals... for livestock. Bringing innovation to farming with nutrition solutions that even cows can appreciate.

EMotorad (2020): Gives the humble bicycle an EV upgrade at an affordable price.

Fibe.India (Formerly EarlySalary) (2015): (formerly EarlySalary) Instant loans and salary advances when payday feels a little too far away. Because we’ve all been there.

Finarkein Analytics (2016): Crunching data and spitting out insights for the financial world—AI-powered and wallet-approved.

FITTR (2016): Your pocket-sized fitness guru offering personalised coaching so you can get fit(ter), not bitter.

FlexifyMe : Flexibility and yoga training in an app—because who doesn’t want to bend it like Beckham?

Fluid Analytics.Ai (aka Fluid Robotics): Robotic solutions for managing water smarter—not wetter.

FretBox (2020): Campus management that takes the “fret” out of, well, campus. Think safety, automation, and a dash of awesome.

Hour4u : Need someone to fix a leaky pipe or assemble Ikea furniture? Hour4u connects you with the pros, pronto.

Kanlet : Real estate transactions that are as easy as swiping right. Streamlining the market with AI smarts.

Kinetic Green (2015): Electric two- and three-wheelers with a dash of eco-friendly swag.

Matel: Making the construction industry greener with energy-efficient solutions—because sustainability isn't just for tree huggers.

Mantra Tech ventures Pvt Ltd (2012): Putting money into healthcare, real estate, and telecom—basically, the sectors you can’t live without.

Nikitek Systems: Industrial automation solutions that cut costs and boost efficiency, so your factory runs like clockwork.

Noccarc (2017): Making affordable medical devices like ventilators—because healthcare should be for everyone, not just the privileged.

Nurturev : Natural, plant-based products that scream “sustainable living”, because green is the new black.

OneCard (2018): A sleek, metal, mobile-based credit card that’s as stylish as it is no-fee. Financial flexibility never looked so good.

Origgo (Backed by 100x.vc) : Organic, sustainably sourced food that’s basically a farm-to-table love letter to the planet.

Serigen Mediproducts (Official account) : Leading the charge in regenerative medicine, because science is basically magic for healing.

Source.One (2018): B2B platform simplifying bulk chemical procurement—because sourcing shouldn’t be rocket science.

Spolto (2020): The go-to platform for managing sports tournaments. Think of it as the coach’s digital assistant.

Tork Motors (2009): Electric bikes for the urban rider looking to revolutionise their daily commute (without breaking a sweat).

Two Brothers Organic Farms® (2014): Sustainable agriculture straight from the field to your table. Organic with a side of authenticity.

Vayana TradeXchange (2017): Simplifying trade finance for SMEs because small businesses deserve big solutions.

Zvolv (2018): Low-code automation that makes business workflows run smoother than butter on hot toast.

Fueling Growth: Incubators, VCs, and Everything in Between

Pune's ecosystem is supercharged with incubators like Venture Center and COEP's Bhau Institute of Innovation, Entrepreneurship and Leadership , offering startups the support they need to scale. Meanwhile, VCs like Guild Capital and Snow Leopard Ventures are pouring funds into promising early-stage companies. With over 54 VC firms managing portfolios of 500+ companies, the city has the financial backing to propel startups from idea to impact.

Why Pune? It’s Got All the Ingredients!

Pune’s startup appeal goes beyond talent and technology. Its industrial proximity, affordable operations, and strong community support make it a magnet for entrepreneurial talent. Whether you're attending hackathons or sipping coffee at a Pune OpenCoffee Club meetup, the city’s dynamic startup culture is alive and kicking.

The Future is Bright

With its mix of talent, resources, and innovation, Pune is not just a city of ideas—it’s a city of execution. The next generation of unicorns is likely already being dreamed up in one of its co-working spaces. 

So, keep an eye on Pune—this startup powerhouse is just getting started!

Writing: Ryan Frantz , Reeta Jose

Editing: Teja Lele