How many total Clinical Laboratory Chains companies are there in Mumbai?

As of January 2026, Mumbai has 43 active Clinical Laboratory Chains companies.

What is the total funding raised by Clinical Laboratory Chains companies in Mumbai?

Clinical Laboratory Chains companies in Mumbai have collectively raised $370M in funding till date.

Which is the highest funded Clinical Laboratory Chains company in Mumbai?

As of January 2026, GD has raised $11.5M in funding, highest among the funded Clinical Laboratory Chains companies in Mumbai.

How many exits have occurred in Clinical Laboratory Chains companies in Mumbai?

Clinical Laboratory Chains sector in Mumbai has seen 3 acquisitions and 5 IPOs.

Clinical Laboratory Chains in Mumbai, India - 2026 Market & Investments Trends

Q: How many Clinical Laboratory Chains companies in Mumbai are funded?

As of January 2026, 8 companies have received funding in this sector.

Q: Who are the top investors in Clinical Laboratory Chains companies in Mumbai?

The top investors in Clinical Laboratory Chains companies in Mumbai by number of investments are The Carlyle Group and Innoven Capital.

The Clinical Laboratory Chains sector in Mumbai, India comprises 45 companies, including 8 funded companies having collectively raised $370M in venture capital money and private equity. Out of these, 11 are Series A+ funded.

Clinical Laboratory Chains sector in Mumbai, India has seen 3 acquisitions and 5 IPOs. This represents almost 17.8% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.

This sector includes companies that operate multiple facilities to provide testing services to get useful information for diagnosis, treatment, and prevention of human diseases.

Clinical Laboratory Chains sector is also known as Clinical Laboratory Services, Pathology Laboratories or Diagnostic Labs.

Companies included in Clinical Laboratory Chains

Radiology and pathology clinical laboratory chains

Companies excluded in Clinical Laboratory Chains

Standalone Clinical Laboratories, Direct-to-Consumer Testing Platforms, Diagnostic Test Booking Platforms, At-Home Monitoring and Diagnostic Solutions, Services to Clinical Labs, Clinical Trials Testing Services, Veterinary Diagnostic Testing Facilities, Digital Diagnostic Solutions, Diagnostic Equipment and Consumables Manufacturers, Hospitals, Clinics. Non-Medical Testing Labs

Key Metrics

Total Companies

Top Companies

Thyrocare, Metropolis India & more

Total Funding

$370M

Funded Companies

Series A+ Companies

Series C+ Companies

IPOs

Acquisitions

Also known as

Clinical Laboratory Services or Pathology Laboratories

View complete details of this sector

There are more than 45 companies in Clinical Laboratory Chains in Mumbai, India. Thyrocare is the top Clinical Laboratory Chains company in Mumbai, India, ranked using Tracxn Score (what's this?).

Here are 5 of the top Clinical Laboratory Chains companies in Mumbai, India:

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Thyrocare	Chain of diagnostic and preventive care laboratories centers	Mumbai (India)	1996	Acquired	$63.6M
Metropolis India	Chain of diagnostic centers	Mumbai (India)	1981	Public	$232M
Suburban Diagnostics	Chain of diagnostic labs	Mumbai (India)	1994	Acquired	$16.3M
Igenetic	Provider molecular diagnostic solutions and services	Mumbai (India)	2013	Acquired	$24M
Aspira	Chain of pathology labs	Mumbai (India)	2015	Public	-

Get a longer list of companies

Companies founded year-on-year in the Clinical Laboratory Chains sector in Mumbai

3 Clinical Laboratory Chains startups in Mumbai were founded in 2021 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	-
2025	-
2024	-
2023	-
2022	-
2021	3
2020	-
2019	1
2018	-
2017	1

Stage-wise distribution of Clinical Laboratory Chains sector companies in Mumbai

Out of the total 45 Clinical Laboratory Chains companies in Mumbai, 8 have secured funding. Among them, 11 have reached Series A or higher, and 8 to Series B or beyond.

Founded - 45

Funded - 8

Series A+ - 11

Series B+ - 8

Series C+ - 8

Company Stage	No. of companies
Founded	45
Funded	8
Series A+	11
Series B+	8
Series C+	8

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Total funding year-on-year in the Clinical Laboratory Chains sector in Mumbai

The Clinical Laboratory Chains sector in Mumbai saw a total funding of more than $235M in the last 10 years. The most amount of funding was in 2015 at more than $137M.

Total Funding

Year	Total Funding
2023	$14M
2022	$7.3M
2020	$7.59M
2019	$1.09M
2018	$3.94M
2017	$24.3M

Recent Funding Rounds in Clinical Laboratory Chains in Mumbai

In the year 2023, till August 2023, Clinical Laboratory Chains companies in Mumbai have raised $14M in equity funding across 3 rounds.

Here are some recent, important funding rounds in Clinical Laboratory Chains companies in Mumbai:

Company	Round Raised	Amount Raised	Funding Date	Investors
Lilac Insights	Series A	3775	Aug 23, 2023	Tara Fund and 3 more
Rivaara Labs	Series A	2751	Aug 18, 2023	Amicus Capital Partners and 2 more
GD	Series A	7796	May 25, 2023	InvAscent
Rivaara Labs	Series A	9043	Oct 14, 2022	Amicus Capital Partners and 2 more
Lilac Insights	Series A	1535	Oct 31, 2020	Rajiv Dadlani and 51 more

See a more detailed list of funding rounds

The Carlyle Group is the top investor in Clinical Laboratory Chains companies in Mumbai based on number of companies invested.

Here are some top investors in Clinical Laboratory Chains companies in Mumbai:

Investor	Location	Top Portfolio Companies
The Carlyle Group	Washington, DC (United States)	Metropolis India
Innoven Capital	Mumbai (India)	Suburban Diagnostics
TCHF	Mumbai (India)	-
Brand Capital	Mumbai (India)	Thyrocare
Phi Capital	Delhi (India)	-

See a more detailed list of investors

In the year 2024, till October 2024, 1 acquisition happened in Clinical Laboratory Chains sector in Mumbai.

Here are some recent, important acquisitions in Clinical Laboratory Chains sector in Mumbai:

Company	Acquisition Type	Acquisition Date	Acquirers
Igenetic	Business Acquisition	Oct 22, 2024	-
Suburban Diagnostics	Business Acquisition	Oct 26, 2021	Dr Lal PathLabs
Thyrocare	Business Acquisition	Jun 25, 2021	API Holdings

See a more detailed list of acquisitions

Acquisition trends in Clinical Laboratory Chains sector in Mumbai

Here are the acquisition trends in Clinical Laboratory Chains sector in Mumbai:

Total Number of Acquisitions

Year	No. of companies
2026	-
2025	-
2024	1
2023	-
2022	-
2021	2
2020	-
2019	-
2018	-
2017	-

In the year 2025, till December 2025, 1 IPO happened in Clinical Laboratory Chains sector in Mumbai.

Here are some recent, important IPOs in Clinical Laboratory Chains sector in Mumbai:

Company	IPO Date	Exchange Symbol
PC Diagnostics	Dec 08, 2025	National Stock Exchange (NSE)
Clinitech Laboratory	Aug 01, 2024	Bombay Stock Exchange (BSE)
Nidan Health Care	Nov 12, 2021	National Stock Exchange (NSE)
Metropolis India	Apr 15, 2019	National Stock Exchange (NSE), Bombay Stock Exchange (BSE)
Aspira	May 12, 2017	Bombay Stock Exchange (BSE)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the Clinical Laboratory Chains in Mumbai

Most number of Clinical Laboratory Chains startups in Mumbai have been founded by alumni from Harvard Business School, Harvard University and IIM Ahmedabad.

College	No. of companies
Harvard Business School	1
Harvard University	1
IIM Ahmedabad	1
NMIMS	1
University of Chicago	1
Wharton School	1

Total funding in Clinical Laboratory Chains companies founded by alumni from top colleges in Mumbai

In the last 10 years, Harvard Business School, Harvard University and IIM Ahmedabad graduates' Clinical Laboratory Chains companies in Mumbai have raised the most funding among top colleges.