Indian startups raised $969 million in November—a slight drop from last year's figure
November 2025 was a slow month for Indian startups, with funding dropping to $969 million across 108 deals—a little more than half of what was raised in October.
Most of the money came from bigger, later-stage investments ($695 million), while early-stage rounds brought in $274 million.
Who got the big bucks?
MoEngage led the pack with a huge $100 million Series F round. Other notable names like Finnable, Candi Solar, and Yubi Group also snagged sizable funding.
Giga made waves on the early-stage side with a $61 million Series A.
Fintech was the hottest sector, pulling in $202 million, followed by AI and e-commerce.
IPOs and city hotspots
Lenskart and Groww went public this month, showing growing interest in IPOs among Indian startups.
With equity funding tougher to get, about 23% of capital came through venture debt instead.
Bengaluru stayed on top as India's startup capital, attracting nearly half of all funds raised.