Indian startups raised US$3.1 billion across 232 deals in Q1 2025, marking a 41% increase from the same period last year. Funding remained consistent with the previous three quarters of 2024.

Seed-stage startups secured US$188 million across 104 deals, an 18% rise from Q1 2024.

Early-stage companies, like Singulr AI and Gyaan AI, raised US$10 million and US$7.8 million, reflecting strong investor interest in SaaS and enterprise tech.

Late-stage startups saw the highest growth, with funding surging nearly 80% to over US$1.8 billion across 38 deals. Major rounds included Innovaccer’s US$275 million series F, Zolve’s US$251 million series B, and DarwinBox’s US$140 million raise.

Growth-stage startups raised US$1 billion across 68 deals, up 7% year-on-year.

Fintech led in total funding with US$739 million, followed by ecommerce at US$610 million and enterprise tech at US$458 million.

M&A activity rose 73% year-on-year, with 26 deals, including Hindustan Unilever’s acquisition of Minimalist and Everstone’s US$200 million majority stake in Wingify.