ETtech Deals Digest: Startups raise $1 billion in December so far; up 6% on-year

Indian startups raised about $1.09 billion in funding between December 1 and 26, marking a 6.4% increase from December 2024, when they had raised a total of $1.02 billion across 180 rounds.

This month, startups across multiple stages secured funding through 78 rounds, according to data from market intelligence platform Tracxn.

However, the number is lower compared to the previous month. In November 2025, startups raised around $1.7 billion from 103 rounds.


Last week alone — between December 20 and 26 — startups raised around $138.4 million.

Top deals of the month

Harness: Enterprise artificial intelligence (AI) firm Harness, founded by serial entrepreneur Jyoti Bansal, closed a $240 million round, valuing it at $5.5 billion. This includes a $200 million primary investment led by Goldman Sachs and a purchase of shares worth $40 million by US-based venture firms IVP, Menlo Ventures, and Unusual Ventures from the company’s employees.

MoEngage: Enterprise software-as-a-service (SaaS) startup MoEngage closed an additional $180 million as part of its ongoing funding round, taking the total deal size to $280 million. The latest infusion was led by private equity (PE) major ChrysCapital and Singapore’s Dragon Fund, which is backed by Japan's largest bank, Mitsubishi UFJ Financial Group.

Sensa Core: The Hyderabad-based medical devices company raised $72 million from investment platform Motilal Oswal Alternates.