Funding for Indian tech companies declined 24.3 per cent month-on-month to the lowest level in the past 12 months to USD 592 million in October.
Tech companies raised USD 592.5 million during the month, compared to USD 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 USD 1.35 billion in October 2025, when 180 rounds were recorded.
Late-stage funding dropped to USD 153 million in October from USD 539.8 million in September and USD 877.4 million a year ago, the data showed.
Early-stage funding, by contrast, rose 114 per cent sequentially to USD 361.6 million from USD 168.6 million and was up 10.8 per cent from USD 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 USD 77.9 million from USD 74.3 million in September, but was down 45.4 per cent from USD 142.6 million a year ago.
During the month under review, the biggest deal was a USD 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 (USD 44.1 million), sports and fitness brand Boldfit (USD 41.5 million), healthcare advocacy services provider Baba (USD 40 million) and e-mobility solutions provider GreenCell Mobility (USD 34.5 million).
Other top deals included Inner Sky Labs (USD 30.9 million), QuBeats (USD 15 million), Cent (USD 15 million), Nat Habit (USD 14.7 million) and Clinics On Cloud (USD 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 USD 24.5 million. PicknGo and UpTodd were also acquired, at undisclosed prices.
