Indian startups pulled in $1.65 billion (₹14,418 crore) in funding in February 2025, with median valuations hitting $83.2 million, according to Tracxn data.
With this, total startup funding for FY25 (April 2024–February 2025) has climbed to $25.4 billion across 2,200 deals. February’s funding also marked a 19.5% jump from January’s $1.38 billion but was 20% lower than the $2.06 billion raised in February 2024.
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Bengaluru vs. Mumbai: Who Got More Money?
Bengaluru remained the country’s startup funding hub, raising $353 million, with a median round size of $2 million. Mumbai, while securing lesser total funding at $102 million, saw a higher median round size of $5 million, indicating larger individual investments.
Biggest Fundraises in February 2025
The month saw major funding rounds, led by fintech player Oxyzo, which secured ₹100 crore in debt financing. Close behind was B2B marketplace udaan, which bagged $75 million in Series G equity funding, with M&G Plc as the lead investor.
Other notable deals included:
- SpotDraft
- Cashfree Payments
- Zeta
- Geniemode
Key Acquisitions That Made Headlines
- Head Digital Works bought Deltatech Gaming (Adda52’s parent company) for ₹491 crore.
- Bengaluru’s Perfios acquired fraud detection platform Clari5.
- Motilal Oswal Alternate Investment Advisors (MO Alts) took a majority stake in pharma company Megafine for ₹460 crore.
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The IPO Buzz: 16 New Listings
A total of 16 IPOs hit the market in February, with a median IPO market cap of $26.5 million.
Some of the big names that debuted on the stock exchange:
- Hexaware
- AJAX
- Ken India
- Dr. Agarwal’s Eye Hospital
- Royal Arc
Who Wrote the Biggest Checks?
The most active startup investors in February included:
- Ritesh Agarwal (OYO)
- Anupam Mittal (Shaadi.com)
- Aman Gupta (boAt)
- Peyush Bansal (Lenskart)
Among venture capital firms, Blume Ventures, Eximius Ventures, Unicorn India Ventures, Peak XV, Accel, and Nexus Venture Partners led the charge.
Startup Funding: 2024 vs. 2023
In total, Indian startups raised $30.4 billion in 2024, reflecting a 6.5% drop from $32.5 billion in 2023.
