When was NCDEX founded?

NCDEX was founded in 2003 and raised its 1st funding round 7 years after it was founded.

Where is NCDEX located?

NCDEX is headquartered in Mumbai, India. It is registered at 1st Floor, Akruti Corporate Park, Near G. E. Garden, L.B.S. Road, Kanjurma, rg (West), Mumbai City, Mumbai, Maharashtra, India, 400078.

Which legal entities is NCDEX associated with?

NCDEX is associated with NCDEX LIMITED.

How many employees does NCDEX have?

As of Aug 31, 2025, NCDEX has 219 employees, reflecting a 3% year-over-year growth in headcount.

Is NCDEX a funded company?

NCDEX is a funded company, having raised a total of $113M across 4 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Mar 23, 2010.

How much is NCDEX worth?

The latest valuation of NCDEX is $***** as of Oct 07, 2025.

When was the latest funding round of NCDEX?

NCDEX's latest funding was a $***** Series B round on Aug 29, 2025, with participation from 47 investors.

What is the annual revenue of NCDEX?

Annual revenue of NCDEX is between ₹100 Cr and ₹500 Cr as on Mar 31, 2026

Where does NCDEX rank among its competitors?

NCDEX ranks 2nd amongst 14 active competitors, only 1 of which is funded. NCDEX, which secured $88M in Aug, 2025.

Who are the top competitors of NCDEX?

NCDEX's top competitors include Indian Energy Exchange, MCX and National Spot Exchange. Among them, NCDEX secured the most recent funding round in August, 2025.

NCDEX - 2026 Company Profile, Funding, Competitors & Financials

NCDEX is a series B company based in Mumbai (India), founded in 2003. It operates as an Online platform for buying, selling, and trading commodity derivatives. NCDEX has raised $113M in funding from investors like Punjab National Bank, Acacia Partners and IDFC First Bank, with a current valuation of $*****. The company has 14 active competitors, including 1 funded and 5 that have exited. Its top competitors include companies like Indian Energy Exchange, MCX and National Spot Exchange.

Company Details

Online platform for buying, selling, and trading commodity derivatives. It is a technology-driven online commodity exchange offering a platform for buying and selling commodities. The exchange provides live quotes, market data, and a range of benchmark products across agriculture and precious base metals.

Website: ncdex.com
Social
Email ID: *****@ncdex.com
Phone Number: +91 **********
Registered Address: 1st Floor, Akruti Corporate Park, Near G. E. Garden, L.B.S. Road, Kanjurma, rg (West), Mumbai City, Mumbai, Maharashtra, India, 400078

Key Metrics

Founded Year

2003

Location

Mumbai, India

Stage

Series B

Total Funding

$113M in 4 rounds

Latest Funding Round

Series B, Aug 29, 2025, $*****

Post Money Valuation

$***** as on Oct 07, 2025

Investors

Punjab National Bank & 83 more

Ranked

2^nd among 14 active competitors

Annual Revenue

₹100 - ₹500 Cr as on Mar 31, 2026

Employee Count

219 as on Aug 31, 2025

Investment & Acquisitions

National Collateral Management

Similar Companies

Xpansiv & 106 more

View NCDEX's full profile

NCDEX is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
NCDEX LIMITED CIN: U51909MH2003PLC140116 , India, Active	Apr 23, 2003	₹100 - ₹500 Cr (As on Mar 31, 2026)	219 (As on Aug 31, 2025)

NCDEX has raised a total funding of $113M over 4 rounds. Its first funding round was on Mar 23, 2010. Its latest funding round was a Series B round on Aug 29, 2025 for $*****. 47 investors participated in its latest round. NCDEX has 62 institutional investors and 22 angel investors.

Here is the list of recent funding rounds of NCDEX:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 29, 2025	9814846	Series B	9505789	7808878	4520854	3888552
Nov 06, 2013	8165685	Series A	7072088	4342477	4553221	7478190
2013	1486	PE	2467	7430	8230	Oman India Joint Investment Fund

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View details of NCDEX's funding rounds and investors

NCDEX's employee count trend

NCDEX has 219 employees as of Aug 25. The total employee count is 2.0% more than what it was in Aug 24. Here is NCDEX's employee count trend over the years:

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Top competitors of NCDEX include Indian Energy Exchange, MCX and National Spot Exchange. Here is the list of Top 10 competitors of NCDEX, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Indian Energy Exchange 2008, Noida (India), Public	Provider of power trading services	$30M	Motilal Oswal Private Equity, Bessemer Venture Partners ... & 11 others	75/100
2nd	NCDEX 2003, Mumbai (India), Series B	Online platform for buying, selling, and trading commodity derivatives	$113M	Goldman Sachs, Oman India Joint Investment Fund ... & 82 others	63/100
3rd	MCX 2002, Mumbai (India), Public	Commodity Exchange	$55M	India Capital Growth, Rare Enterprises & 2 others	61/100
4th	National Spot Exchange 2005, Mumbai (India), Unfunded	Commodity exchange	-	-	42/100
5th	GRD Groupz 2005, Kolkata (India), Unfunded	Financial services company that offers a range of brokerage services, including proprietary trading, equity and derivatives, commodities, and currency trading, to individual and institutional clients	-	-	39/100
6th	CapsGold 1901, Hyderabad (India), Unfunded	Provider of gold and silver bullion trading services	-	-	32/100
7th	Janus Corporation 1998, Mumbai (India), Public	Global provider of trading and broking services for ferrous and non-ferrous metals and minerals	-	-	31/100
8th	AROMA ENTERPRISES 1994, Ahmedabad (India), Public	Limited information available	-	-	29/100
9th	National Multi-Commodity Exchange 2002, Ahmedabad (India), Deadpooled	Commodity exchange	-	-	22/100
10th	Ace Derivatives & Commodity Exchange 2010, Mumbai (India), Unfunded	Commodity exchange	-	-	19/100

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NCDEX LIMITED, the legal entity associated with NCDEX, generated between ₹100 Cr and ₹500 Cr in revenue for the financial year ending on Mar 31, 2026. The revenue of NCDEX LIMITED has a compounded annual growth rate (CAGR) of 26% in the last 1 year.

Financial Statement Summary

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22
Income Statement
Revenue	5120	8036	9813	6124	5760
Total Sales	7167	2393	7659	2532	5868
Total Expenses	8434	1216	7967	7715	9501
Operating Expenses	1359	9758	2915	6633	3492
Employee Expenses	6356	5069	4689	7344	9166
Marketing Expenses	4743	6938	6433	6001	3788
Operating Income (EBIT)	5198	3745	5590	5971	1182
Interest Expenses	1709	4869	1416	8298	8613
Expenses from other activities	3566	8387	7829	5747	9098
Information Technology Expenses	2713	8324	4822	2069	7090
EBITDA	2614	2008	4108	7227	3851
Taxes	7855	9636	5457	8813	5163
Net Profit	2577	8204	9071	9461	6390
Balance Sheet
Assets	4360	7143	3052	3145	7307
Cash Equivalent	6307	8114	4508	6615	4912
Accounts Receivables	7550	3233	4116	2026	4082
Inventory	9247	4351	9364	2960	6744
Liabilities	8915	4308	6883	4951	8888
Total Debt	9618	1838	1280	4663	8098
Accounts Payable	4690	1398	4525	4021	6641
Equities	8243	3140	7415	4742	7158
Cashflow Statement
Cash from Operating activities	8414	1374	5860	7821	9751
Cash from Investing activities	9885	1776	1527	3426	3935
Net cash from Financing activities	2711	5924	6517	7202	9202

Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)

Funds own 14.66%, Parent Entities own 21.02%, Enterprises (largest shareholder) own 52.64% and Angels own 7.63%. The cap table displayed below is for NCDEX LIMITED which is the legal entity associated with NCDEX.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Fund	14.66%	259Cr	2766948	5175410	8506802	6945538
Oman India Joint Investment Fund	78060	59656	28407	87587	60013	25943
Parent Entity	21.02%	372Cr	7536518	6957911	5048864	8110606
Enterprise	52.64%	932Cr	9045913	1632520	4009975	3400105
Angel	7.63%	135Cr	8919275	4491562	4610835	4879178
Other People	4.05%	71.7Cr	3810	9808	9561	4869
Total	100.00%	1,770Cr	2292436	4835807	2140674	7243116