November 15, 2025: With just a few weeks left in the year, funding activity in Indian startup space is moving at a steady but muted pace. Investors continue to pick deals selectively, and the absence of large-ticket rounds has kept overall volumes contained through November so far.
Data from the second week of the month shows startups secured around $170 million across 27 transactions, slightly higher than $143 million recorded in the previous week. While the rise offers some movement, the overall level of activity remains modest compared to busier periods earlier this year.
The first half of November indicates a return to funding levels below the $200 million weekly mark, figures that have become common through most of 2023 and 2024. October had stood out as an exception, with each week comfortably crossing $250 million, driven largely by a handful of major growth-stage rounds.
Indian Startup Funding Trend Slips in November second week
In the latest week, only one deal crossed the $50 million mark: a round raised by Finnable. This breaks a five-week stretch in which at least one Indian startup had managed to draw $100 million or more in a single transaction.
The quieter trend suggests that both investors and founders are continuing to operate cautiously. Year-end periods are typically slow due to holidays and internal closures across global funds, adding another layer of drag on deal momentum. With only a few weeks left in the calendar year, most firms appear to be focusing on ongoing portfolio decisions rather than new high-value commitments.
Many startup operators now expect funding conditions to improve next year, hoping that 2026 brings more clarity across global markets and helps restore confidence for larger growth rounds.
Key Deals of the week
HRS Navigation, a medtech startup, raised $5 million from GVFL, Physis Capital, Sathguru Catalysers, India EXIM Bank, and KITVEN.
Finnable, a fintech lending platform, raised Rs 500 crore (approx. $56.4 million) from Z47 and TVS Capital.
Varaha, a climatetech company, secured $30 million from Mirova.
Tetr College, an edtech venture, closed an $18 million round led by Owl Ventures and Bertelsmann India Investments.
Bombay Shaving Company received Rs 136 crore (approx. $15.3 million) from Sixth Sense Ventures, Patni Family Office, and angel investors.
