Manufacturing Startups To Watch: 5 Startups That Caught Our Eye In August

India's manufacturing sector is experiencing a transformation, driven by policy support, private investment, and growing domestic capabilities. The sector accounts for 16-17% of India's GDP and employs over 2.7 crore people, with manufacturing GVA growing at a CAGR of 10.88% from FY23 to FY26. In July, merchandise exports reached $44.24 billion, while manufacturing output grew by 7.8% in June 2026.

The electronics sector has seen significant growth, with production rising 15.8% year-on-year to ₹13.11 lakh crore in FY26. The government has also approved 12 semiconductor manufacturing projects with investments exceeding ₹1.64 lakh crore. The Ministry of Electronics and Information Technology (MeitY) has approved 31 additional projects under the Electronics Component Manufacturing Scheme, with a projected production value of ₹82,243 crore.

Five manufacturing startups that stood out in August include Tulon Materials, TSUYO Manufacturing, Revamp Moto, and two other unnamed startups. Tulon Materials, founded by Asesh Sarkar, Rabindranath Mandal, and Harsh Bhatt, focuses on upcycling waste into high-performance chemical products for various industries, such as paints, coatings, printing inks, adhesives, plastics, polymers, and paper and textile processing.

TSUYO Manufacturing, led by Lalit L Baid, Vijay Kumar, and Tripurari Kumar, designs and manufactures complete electric drivelines for electric vehicles, including motors, controllers, gearboxes, transmissions, axles, and e-axles. Revamp Moto, founded by Jayesh Sahebrao Tope, Pritesh Prakash Mahajan, and Pushkaraj Narendra Salunke, develops modular electric two-wheelers for commercial and personal applications, including cargo carriers, insulated delivery boxes, and temperature-controlled units.