Indian startup funding October 2026: $678M, no $100M round
Indian startups raised about $678M in October 2026, down 47.5% from September, with no $100M round. Top deals, sectors, cities and IPOs inside.
Ishaan Vardhan7 Nov 2026 · 8 min read
Indian startups raised about $678 million in October 2026, according to Entrackr’s monthly funding report published on 2 November. That is 47.5% less than in September and 60.8% less than in October 2025, and no startup raised $100 million or more. The two largest rounds went to chip-engineering firm Tessolve ($75 million) and Bengaluru hospital operator Even Healthcare ($50 million).
Inc42 counts just over $686 million across 104 deals. Below: both counts side by side, the top rounds, the stage, sector and city split, October’s listings and acquisitions, and what it means if you are raising. For live deal numbers, see our funding tracker.
Key takeaways
- Entrackr counts $677.8 million across 108 deals in October 2026 (99 with disclosed amounts), down from about $1.29 billion in September and $1.73 billion in October 2025.
- Inc42 counts over $686 million across 104 deals, down almost 10% from its own September figure of $760.7 million.
- No round reached $100 million. In Entrackr’s count, only Tessolve and Even Healthcare raised $50 million or more.
- Bengaluru took $420 million, about 62% of the month’s capital, according to Entrackr.
- Moneyview, AceVector, Zetwerk and Jio Platforms all listed in October.
How much Indian startups raised in October 2026
Indian startups raised between $678 million and $686 million in October 2026, depending on the tracker. Entrackr’s total is $677.8 million across 108 deals; Inc42’s, published on 3 November, is “over $686 million” across 104 deals.
The trackers roughly agree on October but not on September. Entrackr puts September at about $1.29 billion, so October looks like a near-halving. Inc42 puts September at $760.7 million, so on its count October fell by almost 10%. Neither explains the September gap, so compare trends within one tracker.
| Measure | Entrackr (2 Nov 2026) | Inc42 (3 Nov 2026) |
|---|---|---|
| October 2026 total | $677.8 million | Over $686 million |
| Deals | 108 (99 disclosed, 9 undisclosed) | 104 |
| September 2026 total | About $1.29 billion | $760.7 million |
| Change from September | Down 47.5% | Down almost 10% |
| Change from October 2025 | Down 60.8% (from $1.73 billion) | Not stated in the report |
| Rounds of $100 million or more | None | Not stated in the report |
Table: October 2026 Indian startup funding as counted by Entrackr (monthly report, 2 November 2026) and Inc42 (monthly round-up, 3 November 2026).
For the year so far, Entrackr puts 2026 funding at nearly $11 billion. Tracxn’s report for 1 January to 21 September 2026, per CXOToday, counted $10.3 billion of tech funding, up 7% on a year earlier, but only 1,134 rounds, down 38%. Tracxn also counted 18 rounds of $100 million or more in that period, roughly two a month. October had none.
Top deals of October 2026
The largest Indian startup round of October 2026 was Tessolve’s $75 million, followed by Even Healthcare’s $50 million, according to Entrackr.
Tessolve, a semiconductor engineering services company controlled by Hero Electronix, raised $75 million (about ₹718 crore) in a round led by Vector Line Capital, with existing backers TPG and Novo Tellus Capital Partners joining, Inc42 reported on 12 October. The money is mainly for acquisitions. (One crore is 10 million rupees.)
Even Healthcare raised a $50 million (about ₹475 crore) Series B led by existing investor Khosla Ventures, with Alpha Wave participating, Inc42 reported on 19 October. It said its valuation had tripled in 18 months, without giving a figure. The money goes into new hospitals in Bengaluru.
| Startup | Amount | Entrackr list |
|---|---|---|
| Tessolve | $75 million | Growth stage |
| Even Healthcare | $50 million | Growth stage |
| Boldfit | $42 million | Growth stage |
| DailyObjects | $35 million | Growth stage |
| RapidCanvas | $29 million | Growth stage |
| Simplify | $25 million | Growth stage |
| AuxoAI | $20.7 million | Early stage (largest) |
| Origin | $20 million | Growth stage |
Table: the eight largest disclosed rounds of October 2026, from Entrackr’s monthly report (2 November 2026).
Stage split: growth rounds vs early rounds
Growth and late-stage rounds brought in $414.6 million across 20 deals in October 2026, while early-stage startups raised $263 million across 79 deals, according to Entrackr.
By series, Entrackr counts $209.34 million in 10 Series B rounds, $135.35 million in 17 Series A rounds, $80.41 million in 41 seed rounds, $61.5 million in just three Series C rounds and $23.24 million in seven pre-Series A rounds. (The series table covers 78 deals, so some rounds have no series.) The thin Series C line shows where money was missing.
Sector split: e-commerce, AI and healthtech led
E-commerce was the most funded sector in October 2026, with $182.69 million across 27 deals, according to Entrackr. AI startups followed with $131.12 million across 22 deals, then healthtech with $104.61 million across 13 deals.
Semiconductors ($75 million) is a single deal, Tessolve. Inc42 also names AI as October’s main theme, with money flowing into spacetech, defence, semiconductors and industrial automation.
Cities: Bengaluru took about 62%
Bengaluru-based startups raised $420 million across 52 deals in October 2026, or 61.97% of the month’s capital, according to Entrackr. Delhi-NCR came second with $110.26 million across 18 deals.
Mumbai ($57.53 million), Hyderabad ($41.22 million) and Bhubaneswar ($11.5 million) followed. October was more concentrated than the year so far: Tracxn put Bengaluru’s share of January–September tech funding at 43%.
IPOs and acquisitions in October 2026
October 2026 was busier for exits than for private funding, with four notable listings and five acquisitions in Entrackr’s count.
- Moneyview listed on 1 October at ₹55.6 on the BSE, a 64% premium to its ₹34 issue price, according to Inc42’s IPO tracker.
- AceVector, Snapdeal’s parent, listed on 5 October at ₹28.30 on the BSE, 11.56% below its ₹32 issue price, after a ₹420 crore IPO subscribed 4.93 times; Free Press Journal.
- Zetwerk listed on 23 October at ₹159.25 on the NSE, a 5.46% premium to ₹151, after a ₹5,012.3 crore IPO. It closed its first day at ₹138.25 on the NSE, about 8.4% below the issue price, Inc42 reported.
- Jio Platforms, not a startup but the month’s largest listing, debuted on 28 October at ₹1,358 against an issue price of ₹1,119, a 21.36% premium, after a ₹30,213 crore IPO, the Free Press Journal reported.
Entrackr’s five acquisitions were Freshworks buying Israel-based AI startup Robusta, Cent buying Medsee, Protectt.ai taking control of AIShield, Hoola Health buying UpTodd, and Marico’s purchase in Satiya Nutraceuticals, the company behind the Plix brand. Bar & Bench reported that Marico bought a further 24.09% for ₹1,012 crore, taking its holding to 84.09%. Follow new IPO filings in our news section.
Why big rounds dried up in October
October’s drop came from missing large rounds, not from a shortage of deals. Entrackr says the absence of $100 million-plus rounds dragged the total down and that investors have become more selective, favouring stronger fundamentals and clearer paths to profitability.
Deal counts held up: in Inc42’s last October week, 32 startups raised money, up from 17 the week before, even as the dollar total fell 29.2% to $130.2 million.
Global capital is also concentrating. Open magazine, citing Crunchbase, notes that AI companies took $102 billion, or 64% of global venture funding, in Q3 2026.
What October’s numbers mean for founders raising now
For a founder raising in late 2026, October’s numbers say early rounds are still closing but cheques above $50 million are rare. This is our reading of the figures, not a forecast.
- Seed and Series A are open. Entrackr counted 41 seed and 17 Series A rounds; the 79 early-stage deals averaged about $3.3 million each ($263 million divided by 79).
- Series C is the bottleneck. Only three Series C rounds closed. Plan runway for a longer process.
- Profitability is the pitch. Entrackr says investors want clearer paths to profit; show unit economics early.
- The IPO exit is real but priced hard. Two of October’s four listings traded below their issue price on day one.
FAQ
How much funding did Indian startups raise in October 2026?
Indian startups raised about $678 million in October 2026 across 108 deals, according to Entrackr’s report of 2 November 2026, down 47.5% from September and 60.8% from October 2025. Inc42 counts slightly more: over $686 million across 104 deals. No startup raised $100 million or more.
Which Indian startup raised the most money in October 2026?
Tessolve, a Hero Electronix-controlled semiconductor engineering company, raised the most: $75 million in a round led by Vector Line Capital, with TPG and Novo Tellus joining, reported on 12 October 2026. Even Healthcare was second with a $50 million Series B led by Khosla Ventures.
Why did startup funding in India fall in October 2026?
Funding fell mainly because there were no large rounds, according to Entrackr: no Indian startup raised $100 million or more in October 2026. Entrackr adds that investors have turned more selective and want stronger fundamentals and a clearer path to profit. Deal counts held up, so the slowdown hit big growth cheques, not early rounds.
Which Indian city got the most startup funding in October 2026?
Bengaluru got the most by far: $420 million across 52 deals, or 61.97% of all capital raised in October 2026, according to Entrackr. Delhi-NCR was second with $110.26 million across 18 deals, then Mumbai with $57.53 million.
Which Indian startups listed on the stock market in October 2026?
Moneyview listed on 1 October at a 64% premium, Snapdeal parent AceVector on 5 October at an 11.56% discount, and Zetwerk on 23 October at a 5.46% premium before closing day one below its issue price. Jio Platforms, not a startup, debuted on 28 October at a 21.36% premium.
Sources
- Entrackr, “Indian startup funding nosedives 47.5% to $678 Mn in October”, 2 November 2026
- Inc42, “30 Startups To Watch: Startups That Caught Our Eye In October 2026”, 3 November 2026
- Inc42, “From Cent to Matiks: Indian Startups Raised Over $132 Mn This Week”, 31 October 2026
- Inc42, “Hero Electronix-Owned Tessolve Secures $75 Mn To Expand Semiconductor Capabilities”, 12 October 2026
- Inc42, “Even Healthcare Raises $50 Mn To Expand Hospital Network Across Bengaluru”, 19 October 2026
- Inc42, “Zetwerk Makes NSE Debut At 5.5% Premium After ₹5,012 Cr IPO”, 23 October 2026
- Inc42, “Indian Startup IPO Tracker 2026”, 1 November 2026
- Free Press Journal, “AceVector Shares Debut At Rs 28.30 On BSE, Snapdeal Parent Lists At 11.56 Per Cent Discount”, 5 October 2026
- Free Press Journal, “Jio Shares Lists At 21% Premium; Market Cap Hits ₹12.5 Lakh Crore”, 28 October 2026
- Bar & Bench, “Vertices Partners advises PLIX as Marico acquires additional stake for ₹1,012 crore”, 9 October 2026
- CXOToday, “Tracxn 9M 2026 Report: India Tech Funding Rises 7% to $10.3B Despite 38% Drop in Deal Volume”, 24 September 2026
- Open, “Seven Things to Know About Why India’s Startup Funding Fell in October”, 2 November 2026
- Deccan Chronicle, “Startup funding drops 60% in Oct”, 2 November 2026
Related stories
Sources (13)
- Entrackr 2 Nov 2026October total, deal count, MoM/YoY, stage, series, sector, city split, top deals, M&A list, reasons
- Inc42 3 Nov 2026Inc42 October total ($686M+, 104 deals), September $760.7M, MoM change, sector themes
- Inc42 31 Oct 2026Last-week deal count and value, Cent/Simplismart/Matiks context
- Inc42 12 Oct 2026Tessolve round: amount, investors, use of funds
- Inc42 19 Oct 2026Even Healthcare Series B: amount, investors, valuation tripled, hospitals
- Inc42 23 Oct 2026Zetwerk listing price, premium, issue size, day-one close
- Inc42 1 Nov 2026Moneyview listing; Indian IPO pipeline
- Free Press Journal 5 Oct 2026AceVector listing, issue price, subscription
- Free Press Journal 28 Oct 2026Jio Platforms listing price, issue price, premium, IPO size
- Bar & Bench 9 Oct 2026Marico additional 24.09% stake in Satiya Nutraceuticals (Plix)
- CXOToday 24 Sep 2026Tracxn 9M 2026: $10.3B, 1,134 rounds, 18 $100M+ rounds, Bengaluru 43%
- Open 2 Nov 2026Global AI concentration (Crunchbase Q3 2026), reasons for October fall
- Deccan Chronicle 2 Nov 2026Corroborates Entrackr totals, Bengaluru and sector figures
