According to data compiled by TheKredible, Indian startups raised a total of $969 million across 108 deals in November.
Chennai: After a steady October that ranked as the second highest funded month of the year, Indian start-ups missed the $1 billion mark in November in the absence of large deals. However, the start-up ecosystem was more concerned about making market debuts in the month.
According to data compiled by TheKredible, Indian startups raised a total of $969 million across 108 deals in November. In comparison, October attracted $1.73 billion, making it the second highest month of the year after January’s $1.76 billion. Across the first 11 months of 2025, Indian start-ups crossed the $1 billion monthly mark on five occasions. On a year on year basis, November 2025 attracted almost similar funding as November 2024, which saw $970 million.
MoEngage’s $100 million was the largest investment of the month. Fintech led the segment wise charts in November with $202.57 million raised across 13 deals, accounting for 20.90 per cent of the total funding. AI followed with $104.49 million from 13 deals, contributing 10.78 per cent. Bengaluru led city wise funding in November with 45 deals that brought in $446.53 million or 46.07 per cent.
The month, however, saw five start-ups getting listed in the bourses. Lenskart, Groww, PhysicsWallah, Pine Labs, and Capillary Technologies made their market debuts. The IPO momentum is building as more start-ups prepare to go public. Late-stage start-ups are increasingly looking to public markets for liquidity. December is expected to see new debuts from Meesho, Wakefit, Aequs and a few others.
November was also among the most impact-heavy months, with Porter and Junglee Games together laying off around 650–700 employees. Agri-tech start-up BharatAgri also shut down operations citing multiple challenges. In total, the month recorded six start-up exits.
