ETtech Deals Digest: Startups have raised $777 million so far in January, a 14% decrease from the previous year

Indian Startups Raise $777 Million in January, Funding Drops 14% Year-on-Year

Indian startups raised about $777.2 million between January 1 and 30, marking a 13.8% decline compared with $901 million raised during the same period last year.

According to data from market intelligence platform Tracxn, startups secured funding across 112 rounds this month. Funding activity was also 29% lower than December 2025, when companies had raised around $1.09 billion across 78 rounds.

In the last week alone — between January 24 and 30 — startups raised nearly $102.2 million, reflecting a slower pace of deal activity.

Top deals of the month

• GreenCell Mobility: The electric bus operator, backed by Eversource Capital, raised $89 million from the International Finance Corporation (IFC), British International Investment (BII), and Tata Capital.

• Emergent: The AI coding startup secured $70 million from Khosla Ventures and SoftBank, valuing the seven-month-old company at around $300 million.

• Juspay: The digital payments firm raised $50 million from WestBridge Capital at a valuation of about $1.2 billion, becoming the first Indian unicorn of 2026.

• Pee Safe: The women’s hygiene and wellness brand closed a $32 million round led by healthcare-focused private equity firm OrbiMed, comprising both primary and secondary investments.

• Sukino: The healthcare startup raised $31 million in a round led by Bessemer Venture Partners, with participation from Zerodha’s Rainmatter.

Despite the monthly slowdown, investors continue to back sectors such as mobility, artificial intelligence, fintech, healthcare, and consumer wellness, signalling sustained interest in high-growth segments of India’s startup ecosystem.