Deals made by Venture Capitalists in India during the initial months of 2025: Overview
The Indian startup ecosystem has demonstrated resilience in the first half of 2025, despite a slight decline in venture capital (VC) funding compared to recent years. According to data analysed by our website, approximately 621 VC deals were recorded, with funding totalling between $5.7 billion and $6.7 billion.
Compared to the first half of 2024, there was an 11% decrease in VC funding, falling from $6.4 billion to around $5.7 billion. The drop was more pronounced when compared to the second half of 2024, with a 21% decrease in funding from $7.2 billion to approximately $5.7 billion.
One report noted that Indian startups raised around $6.72 billion in H1 2025, closely tracking last year's trend with steady VC inflows supported by large deals exceeding $100 million. However, another source cited a figure of $4.8 billion raised, marking a 25% year-on-year decline. Despite this, India still ranked as the third largest global recipient of tech startup funding in early 2025.
The decline in funding has been primarily due to fewer high-value deals, with only 8 startups raising over $100 million in H1 2025, compared to a higher number in previous periods.
Despite the decline, the VC environment remains robust, with strong investor interest and some large deal activity. The improvement in the initial three months of 2025 contributed significantly to the increase in venture capital deals, marking a positive trend after two consecutive years of decline.
The focus is on companies like Goldi Solar, which has sustained rapid growth and attracted a strategic investor. The searchlight is also on PE-backed Apollo Pharmacies, which maintained its revenue growth but remained in the red.
It's worth noting that local investors surpassed offshore peers in the flow of Limited Partner (LP) money into Indian Private Equity (PE) and credit funds. However, the article does not provide specific figures for this flow.
The analysis did not provide details about the sectors or types of startups that were involved in the venture capital deals. Furthermore, the article does not discuss the reasons for the decline in venture capital deals in the previous two years, nor does it provide information about future trends of venture capital deals involving Indian startups.
In conclusion, the Indian startup VC environment in early 2025 shows a resilient picture, with slightly lower funding volumes but steady deal activity compared to recent years. The focus remains on attracting strategic investments and fostering a conducive environment for growth and innovation.
Investors are showing robust interest in Indian startups, especially in the technology sector, despite a decline in venture capital (VC) funding in H1 2025. This decline is primarily due to fewer high-value deals, with only 8 startups raising over $100 million, compared to previous periods. However, the focus remains on attracting strategic investments and fostering a conducive environment for growth and innovation, with companies like Goldi Solar sustaining rapid growth and attracting a strategic investor.
