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Tech funding drops to 12-month low in Oct
In Short
Meanwhile, late-stage funding dropped 72 per cent, though the number of funding rounds rose to 104 from 81, according to data from Tracxn.
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Tech funding drops to 12-month low in Oct
New Delhi: Funding for Indian tech companies declined 24.3 per cent month-on-month to the lowest level in the past 12 months to $592 million in October. Tech companies raised $592.5 million during the month, compared to $782.8 million in September.
Meanwhile, late-stage funding dropped 72 per cent, though the number of funding rounds rose to 104 from 81, according to data from Tracxn. Funding was down 56 per cent year-on-year from $1.35 billion in October 2025, when 180 rounds were recorded. Late-stage funding dropped to $153 million in October from $539.8 million in September and $877.4 million a year ago, the data showed. Early-stage funding, by contrast, rose 114 per cent sequentially to $361.6 million from $168.6 million and was up 10.8 per cent from $326.4 million in October 2025. Early-stage rounds accounted for 61 per cent of the month’s funding.
Seed-stage funding rose 4.8 per cent to $77.9 million from $74.3 million in September, but was down 45.4 per cent from $142.6 million a year ago. During the month under review, the biggest deal was a $50 million Series B round raised by Bengaluru-based health insurance provider Even, led by Khosla Ventures.
It was followed by automotive aftermarket and vehicle service platform myTVS ($44.1 million), sports and fitness brand Boldfit ($41.5 million), healthcare advocacy services provider Baba ($40 million) and e-mobility solutions provider GreenCell Mobility ($34.5 million).
Other top deals included Inner Sky Labs ($30.9 million), QuBeats ($15 million), Cent ($15 million), Nat Habit ($14.7 million) and Clinics On Cloud ($14.3 million). As many as 12 tech companies went public in October, up from five in September and nine in October 2025. They included Zetwerk, Tonbo Imaging and SMT. The number of acquisitions was unchanged from September at six, but declined from eight a year earlier. The largest disclosed deal was Atlasclear’s acquisition of ARK Financial Services for $24.5 million. PicknGo and UpTodd were also acquired, at undisclosed prices.
