India auto tech startups raise $1.3B, down from $2.1B
Business
India's auto tech startups pulled in $1.3 billion across 97 funding rounds so far this year, a noticeable drop from last year's $2.1 billion haul.
Most of the cash came from just 10 big deals, with Rapido's massive $240 million Series F round topping the list.
Bengaluru leads with $894 million funding
Bengaluru grabbed the spotlight as India's top spot for auto tech investment, raking in $894 million, mainly thanks to Rapido and Simple Energy.
Delhi and Mumbai followed with $107 million each, while Gurugram brought in $63 million.
Most of this year's action was in later-stage deals (Series C and beyond), and there were only a handful of acquisitions or IPOs compared to last year.