India’s technology companies raised $10.3 billion in the first nine months of 2026, marking a 6.2% increase from the $9.7 billion raised during the same period last year, according to Tracxn’s India Tech 9M 2026 report.
The headline growth, however, came alongside a sharp decline in the number of funding rounds. Companies closed 1,134 rounds during the period, down 38% from 1,838 a year earlier, indicating that investors are concentrating capital in fewer, larger bets.
There were 18 funding rounds worth at least $100 million, including Nxtra’s $1 billion private-equity round, Neysa’s $600 million Series B and CRED’s $540 million Series H.
Enterprise infrastructure was the fastest-growing sector, with funding jumping 436% to $1.6 billion. Enterprise applications attracted $3.5 billion, while fintech received $2.2 billion.
AI infrastructure led individual business segments with $1.2 billion in funding, followed by digital lending at $799 million and payments at $773 million.
Seed funding declined 37% to $698 million, while early-stage funding increased 27% to $4.2 billion. First-time funded companies also fell 30% to 338.
Bengaluru remained the leading funding hub with $4.4 billion, accounting for 43% of total capital. Mumbai followed with $1.8 billion, while Gurugram recorded $1.6 billion, helped largely by Nxtra’s mega-round.
