Indian Startup Funding Falls 45% Yearly
Boldfit and GreenCell Mobility lead a $231.5 million funding week as early-stage deals account for more than half of capital raised.
Indian technology and startup companies raised $231.5 million across 26 funding rounds during the week ended October 16, 2026, according to data from Tracxn reported by The Economic Times. The total more than doubled from the previous week but was 45.3% lower than the corresponding period a year earlier.
Fitness and sports products brand Boldfit led the weekly funding activity with $41.5 million, followed by electric mobility company GreenCell Mobility with $34.5 million. Inner Sky Labs raised $30.9 million, while speciality chemicals startup Scimplify secured $25 million.
Boldfit raised approximately ₹400 crore from The Wealth Company Alternates, part of the Pantomath Group. Founded in 2018 by Pallav Bihani, the company sells sportswear, athletic footwear, sports equipment and fitness accessories. It plans to use the capital to expand its offline presence, invest in product development and manufacturing, and pursue acquisitions.
GreenCell Mobility raised ₹330 crore in equity funding from Impact Fund Denmark. The electric-bus platform plans to deploy around 4,500 additional electric buses over the next six to eight quarters, potentially taking its fleet beyond 5,000 buses across 105 cities.
Scimplify secured $25 million in a funding round led by Hitachi Ventures to expand its advanced materials business and US operations. The Bengaluru-based company plans to invest around $10 million in the United States over the next two years, focusing on semiconductors, batteries and critical minerals.
Personal-care brand Nat Habit raised ₹142 crore, or approximately $14.7 million, in a round led by Trident Growth Partners. The company plans to use the all-equity funding to expand its product portfolio and distribution through quick-commerce platforms and offline retail.
Other notable transactions during the week included a $20 million fundraise by Origin, $10.5 million raised by Spill Games and $10 million secured by MakeO. Accel backed Scimplify, Origin and CosmoChute, while Elevation Capital invested in Mesa School of Business and Spill Games. Pantera Capital backed Fission Labs.
Early-stage deals accounted for 51.3% of the capital raised during the week. Late-stage transactions represented 38.9%, while seed-stage companies accounted for the remaining 9.8%. The distribution shows that early-stage businesses attracted the largest share of weekly funding, even as overall investment remained below the year-earlier level.
The latest figures point to a mixed fundraising environment for Indian startups. The weekly rebound suggests capital continued to flow into businesses across consumer products, electric mobility, advanced materials and other sectors, but the year-on-year decline indicates that funding activity remains more subdued than during the comparable period last year.