Funding in India’s technology ecosystem increased 7% year-on-year to $10.3 billion during the first nine months of 2026, even as the number of funding rounds fell sharply, according to Tracxn.
Total funding increased from $9.7 billion during the corresponding period of 2025 and $10 billion in January–September 2024.
Deal volume, however, declined 38% to 1,134 funding rounds from 1,838 a year earlier.
Early-stage funding increased 27% to $4.2 billion, while late-stage funding edged up 4% to $5.4 billion. Seed-stage funding declined 37% to $698 million.
First-time funded companies fell 30% to 338, while additions to the soonicorn club dropped 53% to 76.
The period recorded 18 funding rounds of at least $100 million. The report cited Nxtra’s $1 billion private-equity round and Neysa’s $600 million Series B among the major transactions.
Enterprise applications attracted $3.5 billion, up 49%, while enterprise infrastructure funding increased nearly five-fold to $1.6 billion. Fintech funding rose 13% to $2.2 billion, while AI infrastructure attracted $1.2 billion.
Six new billion-dollar companies were created during the period, compared with four in the corresponding period of 2025.
