Monthly report · May 2026
Indian startups raised $3.34 billion in May
110 funding rounds · ▲ 127% vs April · about ₹29,429 crore
By Startup Enthusiast ·
110funding rounds
$3.34 billiondisclosed
38first cheques
$3.7 millionmedian round
Key findings
- Indian startups raised $3.34 billion across 110 rounds in May 2026, up 127% from April 2026.
- The biggest cheque went to Neysa Networks: USD 1.2 billion, Growth (Series D+).
- Commerce & Consumer Brands had the most rounds (26), ahead of AI & Deep Tech (16) and Financial Services (14).
- Peak XV Partners backed the most startups (5).
- 38 rounds were first cheques (seed or earlier). The median disclosed round was $3.7 million.
Every round, day by day
Each bubble is one round, placed on the day it was announced. Bigger bubble, bigger cheque. Dashed rings are rounds with no amount disclosed. Tap a stage to isolate it.
How May compares
Every month we have reported. Tap a month to open its report.
See the numbers
| Month | Disclosed | Rounds | First cheques |
|---|---|---|---|
| January 2026 | $1.80 billion | 146 | 60 |
| February 2026 | $1.14 billion | 159 | 75 |
| March 2026 | $1.92 billion | 136 | 48 |
| April 2026 | $1.47 billion | 120 | 49 |
| May 2026 | $3.34 billion | 110 | 38 |
| June 2026 | $3.13 billion | 115 | 42 |
| July 2026 | $1.74 billion | 119 | 52 |
| August 2026 | $3.74 billion | 152 | 50 |
| September 2026 | $2.35 billion | 141 | 54 |
Where the money went
Sectors by number of rounds, or by money raised.
See the numbers
| Sector | Rounds | Disclosed |
|---|---|---|
| Commerce & Consumer Brands | 26 | $132 million |
| AI & Deep Tech | 16 | $1.61 billion |
| Financial Services | 14 | $497 million |
| Professional & Local Services | 12 | $131 million |
| Healthcare & Life Sciences | 9 | $11.9 million |
| Enterprise Software & IT | 7 | $79.8 million |
| Mobility & Logistics | 5 | $487 million |
| Consumer Internet & Media | 4 | $109 million |
| Education & Skilling | 4 | $92.9 million |
| Government, Defense & Space | 4 | $66.0 million |
| Agriculture & Food Systems | 3 | $13.1 million |
| Climate, Energy & Sustainability | 2 | $77.0 million |
| HR & Future of Work | 1 | $250K |
From first cheque to growth
Rounds and money at each stage. Early stages bring most of the rounds; late stages bring most of the money.
Rounds
Money raised
See the numbers
| Stage | Rounds | Disclosed |
|---|---|---|
| Seed and earlier | 38 | $44.7 million |
| Pre-A and Series A | 26 | $256 million |
| Series B | 8 | $422 million |
| Series C | 6 | $311 million |
| Growth (Series D+) | 12 | $1.49 billion |
| Other or undisclosed | 20 | $821 million |
The ten biggest cheques
- 1N
- 2Z
- 3
- 4
- 5
- 6
- 7
- 8S
- 9S
- 10
Who wrote the most cheques
Investors that backed two or more startups this month. One dot per startup.
Where the startups are
One square per round, coloured by stage.
Bengaluru
16 · $626 million
Mumbai
9 · $1.33 billion
Gurugram
6 · $38.2 million
Delhi
3 · $26.1 million
Hyderabad
3 · $8.1 million
Noida
2 · $15.6 million
Nagpur
1 · $739K
California
1 · $70.0 million
Beyond funding
Acquisitions
Ziptrrip acquires HelloTravel to expand into MICE and business leisure travel25 May 2026Marico buys majority stake in Cosmix23 May 2026Innovaccer acquires CaduceusHealth for $66 million21 May 2026UpGrad to acquire Unacademy in all-stock deal19 May 2026Oxyzo acquires GoldenPi for ₹42.4 Cr to enter retail fixed income market19 May 2026Numero AI acquires Chennai-based Royu14 May 2026Raise acquires GreenLife to expand insurance distribution13 May 2026InCred Capital buys Singapore fund manager S Cube Capital12 May 2026IPO news
Pushp Brand files DRHP for Rs 800-1,000 crore IPO27 May 2026Zepto targets $1B IPO listing by July 202621 May 2026Amagi files for IPO after 18 years21 May 2026Paramotor Digital Technology files for IPO17 May 2026Flipkart defers IPO to 2028 and pauses fundraising15 May 2026Square Yards plans $250-300 Mn IPO11 May 2026Zepto gets SEBI nod for up to $1.2 billion IPO8 May 2026Ola Consumer board approves IPO process despite losses8 May 2026Shutdowns and layoffs
Innovaccer cuts 340 jobs in shift to AI-native operations15 May 2026Devotional startup DevDham ceases operations15 May 2026Adda247 cuts 200 staff in restructuring ahead of IPO11 May 2026Cloudflare cuts 20% workforce in AI restructuring8 May 2026OnePlus to shut Bengaluru office, consolidate in Gurugram7 May 2026Apna Mart cuts 10% staff amid AI automation push6 May 2026Pocket FM cuts 10% of workforce in performance review6 May 2026Freshworks cuts 500 staff and posts Q1 results6 May 2026Every round in May 2026
All 110 rounds
| Date | Company | Amount | Stage | Sector |
|---|---|---|---|---|
| 1 May | Oolka | $14M | Pre-A and Series A | Financial Services |
| 1 May | Kimbal | $22 Mn | Series B | Climate, Energy & Sustainability |
| 2 May | Primebook | $3 million | Other or undisclosed | Enterprise Software & IT |
| 2 May | Swapnow | ₹1.5 Cr | Seed and earlier | Healthcare & Life Sciences |
| 2 May | Nuvie | $450K | Seed and earlier | Commerce & Consumer Brands |
| 2 May | Snabbit | $56M | Growth (Series D+) | Professional & Local Services |
| 2 May | MeMeraki | ₹1 crore | Seed and earlier | Commerce & Consumer Brands |
| 3 May | Coratia Technologies | ₹22 Cr | Seed and earlier | AI & Deep Tech |
| 28 May | Zerodrag | ₹6.5 crore | Seed and earlier | AI & Deep Tech |
| 4 May | Kisah | ₹35.9 Cr ($3.8M) | Pre-A and Series A | Commerce & Consumer Brands |
| 4 May | Healthy Master | $60K+ | Seed and earlier | Commerce & Consumer Brands |
| 4 May | PIL Gaming | ₹80 Lakhs | Other or undisclosed | Education & Skilling |
| 4 May | GoPadFree | ₹20 Cr | Pre-A and Series A | Commerce & Consumer Brands |
| 4 May | BlissClub | Rs 200-250 crore | Series C | Commerce & Consumer Brands |
| 4 May | Aurm | ₹42 Cr | Pre-A and Series A | Professional & Local Services |
| 4 May | Tsavorite Scalable Intelligence | $5M | Series B | AI & Deep Tech |
| 4 May | Blue Tokai Coffee Roasters | ₹175 Cr ($19M) | Growth (Series D+) | Commerce & Consumer Brands |
| 4 May | Rosier Foods | Undisclosed | Other or undisclosed | Agriculture & Food Systems |
| 4 May | Banza | $1M | Seed and earlier | AI & Deep Tech |
| 5 May | Vobiz.ai | $1M | Seed and earlier | AI & Deep Tech |
| 5 May | Safe Security | $70 Mn | Series C | Enterprise Software & IT |
| 5 May | HyugaLife | ₹100 Cr (~$10.5 Mn) | Pre-A and Series A | Commerce & Consumer Brands |
| 5 May | Jurisphere.ai | $2.2M | Seed and earlier | Enterprise Software & IT |
| 5 May | Manjha Technologies | $128,480 | Seed and earlier | Agriculture & Food Systems |
| 6 May | MochaTrade | Undisclosed | Seed and earlier | Financial Services |
| 6 May | MedVital | ₹18 crore | Growth (Series D+) | Healthcare & Life Sciences |
| 6 May | Nia.one | $2.5M | Seed and earlier | Professional & Local Services |
| 6 May | Travel Buddy | Undisclosed | Other or undisclosed | Professional & Local Services |
| 6 May | BazaarNow | Rs 72.3 crore (~$7.8M) | Pre-A and Series A | Commerce & Consumer Brands |
| 6 May | JobsUPI | $250,000 | Seed and earlier | HR & Future of Work |
| 6 May | AI Library | $560K | Seed and earlier | Enterprise Software & IT |
| 6 May | Pronto | $45M | Series B | Professional & Local Services |
| 6 May | Gubbachhi | ₹1.5 crore | Seed and earlier | Commerce & Consumer Brands |
| 6 May | BigEndian Semiconductors | $6M | Other or undisclosed | Government, Defense & Space |
| 7 May | Blunav | $1 million | Seed and earlier | Enterprise Software & IT |
| 7 May | General Autonomy | ₹32 Cr (~$3.3 Mn) | Seed and earlier | AI & Deep Tech |
| 7 May | Alphadroid | ₹36 Cr ($3.8 Mn) | Pre-A and Series A | AI & Deep Tech |
| 8 May | Figtree Pharmacy | Undisclosed | Seed and earlier | Healthcare & Life Sciences |
| 8 May | Z47 | $300M-$400M | Other or undisclosed | Financial Services |
| 9 May | WomenLikeU | $150K | Seed and earlier | Commerce & Consumer Brands |
| 11 May | DailyObjects | ₹300 crore | Growth (Series D+) | |
| 11 May | Sindhuja Microcredit | $5M (₹47 crore) | Growth (Series D+) | Financial Services |
| 11 May | Dil Foods | ₹72 Cr (~$7.7 Mn) | Series B | Commerce & Consumer Brands |
| 11 May | Kathy's Beverages Pvt Ltd | INR 6 crore (approx USD 638,000) | Pre-A and Series A | Commerce & Consumer Brands |
| 11 May | Nori | $350K | Seed and earlier | Commerce & Consumer Brands |
| 11 May | Skyroot | $60 Mn | Growth (Series D+) | Government, Defense & Space |
| 11 May | Wingreens Farms | ₹120 Cr ($12.6 Mn) | Growth (Series D+) | Commerce & Consumer Brands |
| 11 May | Flo Mobility | $2.5 Mn | Pre-A and Series A | Mobility & Logistics |
| 11 May | Centricity | $30M | Pre-A and Series A | Financial Services |
| 11 May | Sahi | $33M | Series B | Financial Services |
| 12 May | Scikiq | $1.5M (Rs 14 crore) | Pre-A and Series A | Enterprise Software & IT |
| 12 May | Mekr Technologies | ₹67 crore ($7 million) | Pre-A and Series A | Professional & Local Services |
| 12 May | HrdWyr | $13M | Pre-A and Series A | AI & Deep Tech |
| 12 May | LifeSigns | Undisclosed | Other or undisclosed | Healthcare & Life Sciences |
| 13 May | Instafix | ₹7.55 crore | Seed and earlier | Professional & Local Services |
| 13 May | The EleFant | $1M | Other or undisclosed | Commerce & Consumer Brands |
| 13 May | Ease My AI | $50 million USD | Pre-A and Series A | AI & Deep Tech |
| 13 May | SportVot | ₹32.7 Cr | Other or undisclosed | Consumer Internet & Media |
| 13 May | Nivasa Finance | $3 million | Seed and earlier | Financial Services |
| 13 May | Nirmalaya | ₹6 crore | Other or undisclosed | Professional & Local Services |
| 14 May | The Indus Valley | $6 Mn | Pre-A and Series A | Commerce & Consumer Brands |
| 14 May | The Sweet Change | Rs 70 lakh | Other or undisclosed | Healthcare & Life Sciences |
| 14 May | Sarvam AI | $300M | Series B | AI & Deep Tech |
| 15 May | Craon | $1 Mn | Seed and earlier | AI & Deep Tech |
| 15 May | Gabify | over ₹1 crore | Other or undisclosed | Healthcare & Life Sciences |
| 15 May | Legend of Toys | ₹21 Cr | Pre-A and Series A | Commerce & Consumer Brands |
| 15 May | Rapido | $240M | Other or undisclosed | Mobility & Logistics |
| 15 May | Ola Electric | ₹2,000 Cr | Other or undisclosed | Mobility & Logistics |
| 15 May | Simple Energy | ₹126.7 crore | Other or undisclosed | Mobility & Logistics |
| 16 May | ONDC | ₹70 crore | Growth (Series D+) | Commerce & Consumer Brands |
| 18 May | Finspring.ai | Undisclosed | Seed and earlier | |
| 18 May | Edubuk | $50M | Growth (Series D+) | Education & Skilling |
| 18 May | Cellogen Therapeutics | Rs 20 crore | Seed and earlier | Healthcare & Life Sciences |
| 18 May | Trackk | $3.7M | Seed and earlier | Financial Services |
| 18 May | Owners ID | $260K | Seed and earlier | Professional & Local Services |
| 19 May | Kalpi | ₹3.75 Cr | Seed and earlier | Financial Services |
| 19 May | Damroo | Rs 5 crore | Other or undisclosed | Consumer Internet & Media |
| 19 May | ONO | $1.2M | Pre-A and Series A | |
| 19 May | NODWIN Gaming | $100-200 Mn | Series C | Consumer Internet & Media |
| 20 May | Mythik | $5M | Seed and earlier | Consumer Internet & Media |
| 20 May | Green Tiger Mobility | ₹21 crore | Seed and earlier | Mobility & Logistics |
| 20 May | ANSCER Robotics | ₹45 Cr | Pre-A and Series A | AI & Deep Tech |
| 20 May | upGrad | Rs 361 cr (~$38 M) | Growth (Series D+) | Education & Skilling |
| 20 May | Sychedelic | $3.5M | Seed and earlier | Healthcare & Life Sciences |
| 20 May | Solfin Sustainable Finance | ₹280 Cr | Pre-A and Series A | Financial Services |
| 21 May | Scapia | $63M | Series C | Financial Services |
| 21 May | Neysa Networks | USD 1.2 billion | Growth (Series D+) | AI & Deep Tech |
| 22 May | Gabit | ₹36.2 Cr ($3.7 Mn) | Pre-A and Series A | Healthcare & Life Sciences |
| 22 May | Finodaya Capital | $2.5M | Seed and earlier | Financial Services |
| 23 May | SolarSquare | $55M to $60M | Series C | Climate, Energy & Sustainability |
| 25 May | Yes Madam | ₹50 Cr | Pre-A and Series A | Professional & Local Services |
| 25 May | Fraganote | ₹8 Cr | Pre-A and Series A | Commerce & Consumer Brands |
| 25 May | GIVA | Undisclosed | Series C | Commerce & Consumer Brands |
| 25 May | StrainX Bioworks | ₹124 Cr ($13 Mn) | Other or undisclosed | Agriculture & Food Systems |
| 25 May | Abcoffee | Rs 61 crore | Series B | Commerce & Consumer Brands |
| 25 May | Paytm | €9M | Other or undisclosed | Financial Services |
| 25 May | Pramatra Space | Undisclosed | Seed and earlier | Government, Defense & Space |
| 26 May | Yoho | ₹23 crore | Series B | Commerce & Consumer Brands |
| 26 May | Flexprice | $1.5M | Seed and earlier | Enterprise Software & IT |
| 26 May | Fairdeal.Market | $15 Mn (₹139.5 Cr) | Pre-A and Series A | Commerce & Consumer Brands |
| 26 May | Leverage Edu | ₹43 crore | Growth (Series D+) | Education & Skilling |
| 26 May | Human Archive | $8.2M | Pre-A and Series A | AI & Deep Tech |
| 26 May | Quantum Tiger | Undisclosed | Seed and earlier | AI & Deep Tech |
| 26 May | Bucketlistt | Rs 1.07 crore | Seed and earlier | Commerce & Consumer Brands |
| 27 May | Kalories | $1 Mn | Other or undisclosed | Commerce & Consumer Brands |
| 27 May | Tiea Connectors | ₹77 crore ($8 Mn) | Pre-A and Series A | Professional & Local Services |
| 28 May | Eazzy | over $440K | Seed and earlier | Professional & Local Services |
| 28 May | C2i Semiconductors | $16.7M | Pre-A and Series A | AI & Deep Tech |
| 29 May | Frex | ₹9.5 Cr | Seed and earlier | Financial Services |
| 31 May | InterCosmos | Undisclosed | Other or undisclosed | Government, Defense & Space |
How these numbers are counted
- Equity funding rounds raised by Indian startups and announced in May 2026.
- Debt, bonds, IPO proceeds, rights issues and rounds still in talks are left out. A round reported more than once is counted once.
- Totals add only disclosed amounts. Rupee amounts are converted at ₹88 per US dollar.
- Figures can change as companies update them.
Cite as: StopDown, “Indian startup funding report: May 2026”, stopdown.in/report/2026-05