About Retail sector in Surat, India
The Retail sector in Surat, India comprises 840 companies, including 28 funded companies having collectively raised $163M in venture capital money and private equity. Out of these, 14 are Series A+ funded.
Retail sector in Surat, India has seen 12 IPOs.
This sector includes companies providing the sale of goods and services to consumers and businesses directly. It also includes companies providing tech solutions or tech based assistance to companies that help them in their business operations.
Retail sector is also known as Retail Tech, Retail IT, E-Retail, E-Retailer, E-Tailer, Electronic Retail or eRetail.
It includes companies providing FMCG, durable consumer goods, Coupons and deals platforms, cross border ecommerce etc. Companies providing solutions to businesses to manage theirs in-store or e-commerce business operations. It excludes companies providing sale and purchase of medical goods and equipment, payment solutions and service providers and manufacturing companies etc.
Top Retail Companies in Surat, India
There are 840 Retail startups in Surat, India which include XYXX, Zoivane Pets, Svaraa, Aether, Kingdom of White. Out of these, 28 startups are funded, with 14 having secured Series A+ funding.
Over the past 10 years, an average of 53 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIM Ahmedabad, IIM Calcutta and IIT Bombay.
Here is the list of top Retail startups in Surat, India
1. XYXX
Internet first brands offering inner-wear and lounge-wear. Its product catalog includes briefs, trunks, boxers, vests, t-shirts, pajamas, and more. The company claims to manufacture the products using moisture-wicking technology, breathable, and sustainable.
Key facts about XYXX
- Founded Year: 2017
- Location: Surat (India)
- Stage: Series C
- Total Funding till date: $38.8M
- Investors: Sauce, DSG Consumer Partners and 49 Others
- Latest Funding Round: Series C, Feb 15, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 1 of 67 Competitors
2. Zoivane Pets
Retailer of pet grooming, training, and care products and accessories. They offer shampoos, sprays, and odor removers for dogs, cats, puppies, and kittens. The company provides accessories such as toys, clothing, and training pads. They address pet parent problems with products designed to make pet care easier.
Key facts about Zoivane Pets
- Founded Year: 2020
- Location: Surat (India)
- Stage: Seed
- Total Funding till date: $706K
- Investors: GSV, Gujarat Venture Finance and 20 Others
- Latest Funding Round: Seed, Dec 07, 2022, $*****
- Tracxn Score: 53/100 What is this?
- Competitors Rank: 2 of 103 Competitors
3. Svaraa
Manufacturer of lab grown diamond jewelry. It is a luxury jewelry brand that offers lab grown diamond jewelry, and accessories. It offers a wide range of jewelry pieces, including casual rings, necklaces, and stud earrings.
Key facts about Svaraa
- Founded Year: 2019
- Location: Surat (India)
- Stage: Unfunded
- Tracxn Score: 51/100 What is this?
- Competitors Rank: 5 of 48 Competitors
4. Aether
Key facts about Aether
- Founded Year: 2013
- Location: Surat (India)
- Stage: Public
- Total Funding till date: $13.5M
- Investors: India Infoline, White Oak and 1 Other
- Latest Funding Round: Post IPO, Jul 10, 2023, $*****
- Tracxn Score: 49/100 What is this?
- Competitors Rank: 21 of 762 Competitors
Key facts about Kingdom of White
- Founded Year: 2021
- Location: Surat (India)
- Stage: Seed
- Latest Funding Round: Angel, Oct 14, 2024, $*****
- Tracxn Score: 49/100 What is this?
- Competitors Rank: 14 of 1,320 Competitors
Companies founded year-on-year in the Retail sector in Surat
93 Retail startups in Surat 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 |
|---|---|
2025 | 1 |
2024 | 43 |
2023 | 66 |
2022 | 67 |
2021 | 93 |
2020 | 54 |
2019 | 49 |
2018 | 49 |
2017 | 41 |
2016 | 74 |
Stage-wise distribution of Retail sector companies in Surat
Out of the total 840 Retail companies in Surat, 28 have secured funding. Among them, 14 have reached Series A or higher, and 13 to Series B or beyond.
Founded - 840
Funded - 28
Series A+ - 14
Series B+ - 13
Series C+ - 13
Company Stage | No. of companies |
|---|---|
Founded | 840 |
Funded | 28 |
Series A+ | 14 |
Series B+ | 13 |
Series C+ | 13 |
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Funding Trends in the Retail sector in Surat
Total funding year-on-year in the Retail sector in Surat
The Retail sector in Surat saw a total funding of more than $162M in the last 10 years. The most amount of funding was in 2023 at more than $107M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $4.34M |
2024 | $6.64M |
2023 | $107M |
2022 | $14M |
2021 | $22.2M |
2020 | $3.42M |
2019 | $1.78M |
2018 | $25.8K |
2017 | $620K |
Recent Funding Rounds in Retail in Surat
In the year 2025, till December 2025, Retail companies in Surat have raised $4.36M in equity funding across 4 rounds.
In the same period last year (i.e. till November 2024), Retail companies in Surat had raised $6.62M across 9 rounds.
So, 2025 has seen a 34.06% drop in funding in Retail companies in Surat as compared to 2024.
Here are some recent, important funding rounds in Retail companies in Surat:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 9601 | Dec 28, 2025 | ||
Angel | 9765 | Apr 02, 2025 | - | |
Angel | 6910 | Mar 15, 2025 | and 4 more | |
Series C | 9034 | Feb 15, 2025 | ||
Seed | 5004 | Nov 06, 2024 | and 4 more |
Top Investors in Retail in Surat
GSV is the top investor in Retail companies in Surat based on number of companies invested.
Here are some top investors in Retail companies in Surat:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Surat (India) | Zoivane Pets and Evify | |
Surat (India) | ||
Surat (India) | ||
Surat (India) | - | |
Surat (India) | - |
IPOs in Retail in Surat
In the year 2025, till April 2025, 1 IPO happened in Retail sector in Surat.
Here are some recent, important IPOs in Retail sector in Surat:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Apr 03, 2025 | Bombay Stock Exchange (BSE) | |
Jun 03, 2022 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Oct 31, 2019 | Bombay Stock Exchange (BSE) | |
Oct 17, 2016 | Bombay Stock Exchange (BSE) | |
Jul 14, 2016 | Bombay Stock Exchange (BSE) |
Colleges which produce the most Retail companies in Surat
Companies founded by alumni from top colleges in the Retail in Surat
Most number of Retail startups in Surat have been founded by alumni from IIM Ahmedabad, IIM Calcutta and IIT Bombay.
College | No. of companies |
|---|---|
IIM Ahmedabad | 1 |
IIM Calcutta | 1 |
IIT Bombay | 1 |
IIT Kanpur | 1 |
IIT Kharagpur | 1 |
Indian School of Business | 1 |
Massachusetts Institute of Technology | 1 |
University College London | 1 |
University of Delhi | 1 |
University of Edinburgh | 1 |
Total funding in Retail companies founded by alumni from top colleges in Surat
In the last 10 years, IIT Bombay and Indian School of Business graduates' Retail companies in Surat have raised the most funding among top colleges, and University College London alumni are third.
College | Total Funding |
|---|---|
IIT Bombay | $40.7M |
Indian School of Business | $40.7M |
University College London | $2.25M |
University of Edinburgh | $2.25M |
IIT Kanpur | $1.24M |
Massachusetts Institute of Technology | $1.24M |
University of Warwick | $1.06M |
IIM Calcutta | $182K |
IIM Ahmedabad | - |
IIT Kharagpur | - |
Top News in Retail in Surat
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Aether Industries to commission 15 MW solar power plant in Gujarat's BharuchMoneycontrol•Feb 07, 2024•Aether
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Madhusudan Ind Standalone December 2023 Net Sales at Rs 0.31 crore, up 4.98% Y-o-YMoneycontrol•Jan 20, 2024•Madhusudan Group
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Aether Industries partners with Novoloop for sustainable plastic managementDevdiscourse•Jan 18, 2024•Aether, Novoloop
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