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India

Asia · Pop. 1450.9M · #4 startup ecosystem by EV

A public taster of the full India ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

🦄 New unicorns by year
4
Annual $1B+ outcomes, unsmoothed
🐎 Cumulative thoroughbreds
122
Company revenue history, 2016-2025
Enterprise value
$933B
Actual EV series, 2015-2025

Largest rounds

Largest funding rounds in India

A live treemap of $100M+ rounds from the Dealroom API. Each cell is one round into a India-headquartered company, grouped by Dealroom sector.

Largest rounds in India - 2026

Every $100M+ VC round into India-headquartered companies in 2026, grouped by Dealroom sector.
- rounds · - raised
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Startup hubs

Inside India: top 8 startup hubs

Sub-national ecosystems ranked by combined enterprise value, paired with their 5-year growth multiplier.

By enterprise value
1 Bengaluru $294B
2 Mumbai $244B
3 Delhi $228B
4 Pune $36.8B
5 Chennai $31.3B
6 Hyderabad $27.8B
7 Jaipur $9.8B
8 Ahmedabad $8.6B
By 5-yr EV growth
1 Mumbai 15×
2 Pune 12×
3 Jaipur 12×
4 Ahmedabad 11×
5 Bengaluru 6.3×
6 Delhi 6.1×
7 Hyderabad
8 Chennai 5.9×

Startup funnel

India's power-law funnel

From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.

Pre-Seed
3,262
Seed
2,217
Series A
1,446
Series B
696
Series C
391
Unicorn
121
Decacorn
6

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

VC investment

How much venture capital flows into India

VC investment into India-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage. Live from the Dealroom Next Gen API.

Notable companies

Top private companies in India

Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.

Decacorns $10B+ valuation 6
LenskartZomatoFlipkartGrowwLaurus LabsPersistent Systems
Unicorns $1B+ valuation 121
Eruditus Executive EducationVeritas FinanceFirstCryAptus Value Housing Finance IndiaDMI FinanceOYOShareChatLeadSquaredVedantuHasuraCARS24BoAtElasticRunBharatPeBigbasketDruvaDealShareGames24x7BlueStoneRazorpay+101 more
Thoroughbreds+ $100M+ revenue 122
OfBusinessZomatoInfra.MarketStar HealthSwiggyZetwerkMankind PharmaPersistent SystemsTeamLease ServicesMeeshoZeptoDelhiveryTejas Networks IndiaHero FinCorpNykaaFirstCryMakeMyTripDigit InsuranceOne97Dream11

Academia

India's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to India.

University ranking By alumni-founded unicorns & companies
# University City Unicorns Companies
1 🇮🇳IIT Bombay Mumbai 90 1,754
2 🇮🇳IIT Delhi New Delhi 75 931
3 🇮🇳Indian Institute of Science (IISc) Bengaluru 28 345
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Location comparison

How India stacks up

Compare India with similarly sized ecosystems in Asia — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.

$5.8T
India
$924B
$602B
$430B
$319B
$233B
$179B

Combined enterprise value of each ecosystem.

Patent intelligence

India startup IP portfolio: 26K patent families

Granted patent families assigned to startups headquartered in India. Aggregated across the country's hub-level filings — Bay Area, Boston, etc. roll up under the United States row, the same way Tokyo and Osaka roll up under Japan.

Granted patent families
26K
Filed by tracked startups headquartered in the country.
18.0 patents per million residents · #42 globally
Top patenting hubs
1 Mumbai Metropolitan Region 15.6K
2 Pune Metropolitan Region 3,377
3 Greater Delhi 2,984
4 Bengaluru Metropolitan Area 2,267
5 Hyderabad Metropolitan Region 766
6 Ahmedabad 706

Sector concentration

Where India punches above its weight

Sectors in which India's share of the global unicorn pool is bigger than its overall share. A 5× over-index means India is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.

🎓 Edtech
5.85×
7 unicorns · 18.4% of global sector
3.27×
18 unicorns · 10.3% of global sector
🥗 Food
2.84×
5 unicorns · 8.9% of global sector
1.67×
16 unicorns · 5.2% of global sector
❤️‍🩹 Health Tech & Medtech
1.34×
6 unicorns · 4.2% of global sector
💸 Fintech
1.30×
13 unicorns · 4.1% of global sector
1.22×
1 unicorns · 3.8% of global sector
🤖 AI
0.89×
9 unicorns · 2.8% of global sector

Premium analytics

What we don't show on this page (yet)

Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full India dataset — or see a sample on the Dealroom app.

Sector breakdown
Where India's unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
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Capital autonomy
India's domestic vs foreign capital mix
% domestic VC by stage
Cross-border lead investors
Sovereign-fund participation
Foreign-LP exposure
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Recent momentum
India's VC investment trajectory by stage
2024 vs 2025 by stage
Round-size trends
Stage-conversion deltas
Quarterly velocity
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Founder origins
Where India's startup founders come from
By country of origin
Per capita
Top universities
Top alumni-factory companies
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AI talent
Top employers of AI talent in India
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
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Deal flow
Live deal flow & funding rounds in India
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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Get the full India ecosystem on Dealroom

Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.