About Maharashtra State Innovation Society
Maharashtra State Innovation Society, an accelerator and incubator program founded in 2017, is based in Mumbai, India. With a presence in 4 countries, it has supported around 155 startups in sectors like Enterprise Applications, Food and Agriculture Tech. As of Apr 2026, Maharashtra State Innovation Society has witnessed 3 portfolio exits. Most notable companies in
its portfolio include Arya.ag, Chakr Innovation and Big Bang Boom Solutions. The program is backed by a team of 30 people who primarily support Grant (prize money) startups based in India. Its latest investment was a ₹10L Grant (prize money) round in Shashvi Ayurveda on May 01, 2025.
Key Metrics
Founded Year
2017
Location
Mumbai, India
Portfolio Companies
Sectors of Investment
Stages of Investment
Grant (prize money)
Locations of Investment
Maharashtra State Innovation Society's List of Top Investments
Maharashtra State Innovation Society has a portfolio of 155 companies. Their most notable investments include Arya.ag and Chakr Innovation.Their portfolio spans across India, United States, Australia and 1 more locations. They have invested in Enterprise Applications, Food and Agriculture Tech, High Tech and 32 other sectors, across stages such as Grant (prize money) stage. Here is the list of top investments by Maharashtra State Innovation Society:
1. Arya.ag
Agritech platform offering integrated services to bridge gaps in the agricultural value chain. It operates an integrated grain commerce platform, providing a range of services that help bridge gaps in the agricultural value chain. The platform enables buyers and sellers to find the best prices for commodities and offers secure storage solutions.
Key facts about Arya.ag
- Founded Year: 2013
- Location: Noida (India)
- Annual Revenue: ₹353Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $134M
- Employee Count: 842 as on Aug 31, 2025
- Investors: HSBC, Lightrock India and 27 Others
- Latest Funding Round: Series D, Jan 02, 2026, $*****
- Highlight: Editors' Pick
Manufacturer of retrofit emission control devices for diesel generator sets. The company's devices reduce emissions from diesel generators, promoting cleaner air. These devices are designed to integrate with existing diesel generators. The company aims to provide sustainable and scalable technologies.
Key facts about Chakr Innovation
- Founded Year: 2016
- Location: Gurugram (India)
- Annual Revenue: ₹125Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $43.6M
- Employee Count: 383 as on Aug 31, 2025
- Investors: Saama Capital, Indian Angel Network and 82 Others
- Latest Funding Round: Series C, Sep 17, 2025, $*****
- Highlight: Editors' Pick
Provider of combat weapon systems. It provides users with a company that builds unmanned tanks with a specific information bus for integration with an engine and transmission, hybrid combat armors, anti-drone defense systems, as well as drones for riot control and battle interfaces. It also offers drones for law enforcement agencies to prevent and punish crimes such as drug usage, arson, petty theft, spray paint or graffiti, and public urination.
Key facts about Big Bang Boom Solutions
- Founded Year: 2018
- Location: Chennai (India)
- Annual Revenue: ₹11.3Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $35.2M
- Employee Count: 107 as on Aug 31, 2025
- Investors: Bay Capital, Sarcha Advisors and 89 Others
- Latest Funding Round: Series C, Sep 20, 2024, $*****
- Highlight: Editors' Pick
4. Presolv360
Online dispute resolution platform. It connects consumers with lawyers to resolve legal disputes. It offers solutions to get an agreement reviewed, and resolve an existing dispute. It streamlines arbitration process through AI-driven research, algorithmic case allocation, smart case management, task automation, and more. Its solutions include arbitration, mediation, and negotiation.
Key facts about Presolv360
- Founded Year: 2017
- Location: Mumbai (India)
- Annual Revenue: ₹18.8Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $5.78M
- Employee Count: 130 as on Aug 31, 2025
- Investors: MGA Ventures, Inspira Enterprise and 14 Others
- Latest Funding Round: Series A, Sep 10, 2025, $*****
- Highlight: Editors' Pick
5. Hesa
Provider of fintech and agritech company to connect rural communities with urban businesses. It provides users with a company to bridge the rural-urban gap by providing a unified commerce platform, leveraging technology to facilitate transactions and promote economic growth in rural areas.
Key facts about Hesa
Maharashtra State Innovation Society's Year-on-Year Investment Trends
Maharashtra State Innovation Society has invested in 155 companies over the last 8 years, with an average of 5 new investments annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Shashvi Ayurveda.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 23 | 0 | 23 |
2020 | 22 | 0 | 22 |
2019 | 20 | 0 | 20 |
2018 | 23 | 0 | 23 |
Maharashtra State Innovation Society's Investments by Stage
Maharashtra State Innovation Society has made 89 investments in Grant (prize money) stage with an average round size of $12.6K.Maharashtra State Innovation Society's Investments by Sector
Maharashtra State Innovation Society has a diverse portfolio, with companies operating in the Enterprise Applications, Sustainability Tech, Consumer, Environment Tech and High Tech. Notably, it has invested in 112 Tech companies, 97 Enterprise (B2B) companies, 66 Software companies and at least 47 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 32 |
Sustainability Tech | 20 |
Consumer | 18 |
Environment Tech | 15 |
High Tech | 15 |
Others | 134 |
Note: We have considered here, only first round of investments
Maharashtra State Innovation Society's Investments by Geography
Maharashtra State Innovation Society has made most investments in India (88), followed by United States where it has made 1 investment.Country | No. of Investments |
|---|---|
India | 88 |
United States | 1 |
Note: We have considered here, only first round of investments
Maharashtra State Innovation Society's recent investments
Maharashtra State Innovation Society has not made any investment in 2026 so far.Here are the most recent investments by Maharashtra State Innovation Society:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 01, 2025 | India | Grant (prize money) | 5932 | - | |
Sep 23, 2021 | India | Grant (prize money) | 7636 | - | |
Sep 23, 2021 | India | Grant (prize money) | 1711 | - | |
Sep 16, 2021 | India | Grant (prize money) | 9006 | - | |
Sep 16, 2021 | India | Grant (prize money) | 4357 | - |
Acquired companies in Maharashtra State Innovation Society's Portfolio
3 companies from Maharashtra State Innovation Society's portfolio have been acquired. The most recent acquisition was Fountain Nine in Sep 2024 by Rappi for $*****.Here are Maharashtra State Innovation Society's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 05, 2024 | - | - | 6655 | |
Feb 25, 2022 | Aug 18, 2020 | Grant (prize money) | 8155 | |
Feb 22, 2021 | Jul 24, 2018 | Grant (prize money) | 7203 |
Team profile of Maharashtra State Innovation Society
Maharashtra State Innovation Society has a team of 30 members including 23 Partners and 4 Principals located in India. Maharashtra State Innovation Society's team sits on the board of 4 companies.Here is a list of top team members in Maharashtra State Innovation Society:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Bengaluru | - | ||
Partner | Mumbai | - | ||
Partner | Mumbai | - | - | |
Partner | - | - | - | |
Partner | Mumbai | - | - | |
Partner | - | - | - | |
Partner | Mumbai | - | - | |
Partner | Mumbai | - | - | |
Partner | Nagpur | - | - | |
Partner | - | - | - |
Co-investors of Maharashtra State Innovation Society
Over the past 8 years, 1324 investors have co-invested in Maharashtra State Innovation Society's portfolio companies. This includes funds and angels.
- Invested before Maharashtra State Innovation Society: Social Alpha, IIMA Ventures and 584 others have invested in rounds before Maharashtra State Innovation Society. There are 5 companies where Social Alpha has invested before Maharashtra State Innovation Society and 4 companies where IIMA Ventures has invested before Maharashtra State Innovation Society.
- Top Co-investors of Maharashtra State Innovation Society: StartupTN entered a company along with Maharashtra State Innovation Society.
- Invested after Maharashtra State Innovation Society: A total of 737 investors have invested in Maharashtra State Innovation Society's portfolio after their investments. Top Investors include Rainmatter (5 companies) and Angel List (5 companies).
Recent News related to Maharashtra State Innovation Society
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Shashvi Remedies Secures Rs 10 Lakh Grant for Breast Cancer Treatment InnovationBioSpectrum India•May 01, 2025•Shashvi Ayurveda, Maharashtra State Innovation Society
