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Mumbai leads Indian startup funding in Q3 2025
Despite a funding slowdown, Mumbai and Bengaluru remain vibrant hubs, with e-commerce and healthtech leading Indian startup capital raising.
Indian startups secured $2.1 billion across 240 deals in Q3 2025, marking a 38% year-on-year decline. Mumbai led in funding with $617 million from 37 deals, while Bengaluru topped activity with 76 deals totaling $544 million. Sector-wise, e-commerce drew $356 million, followed by healthtech at $300 million, highlighting steady investor confidence in consumer and digital health segments. Early-stage AI ventures also saw sustained traction, reflecting ongoing interest in innovation despite a tighter funding environment.