ETtech Deals Digest: Startups raise $460 million in July so far, down 47% on-year

Indian startups raised about $460.5 million in funding between July 1 and 25, marking a 47.3% decrease from the full month last year, when they had raised a total of $874.2 million across 161 rounds.

So far this month, startups, primarily in the seed, early, and late stages, secured funding through 80 rounds, according to data from market intelligence platform Tracxn.

In contrast, May 2025 saw stronger momentum, with startups raising approximately $896.7 million across 74 rounds.


Last week—from July 19 to July 25—funding stood at $211.3 million, accounting for nearly half of the month’s total so far.

Top deals of the month

Gupshup: Conversational messaging platform Gupshup raised $60 million, with the majority in the form of equity funding from venture capital firm Globespan Capital Partners and the rest as debt from EvolutionX Debt Capital.

MedGenome: Genomic diagnostics services firm MedGenome raised $47.5 million in a funding round co-led by private equity firm Maj Invest, along with investment firms Novo Holdings and Sofina.

PayU: Digital payments firm PayU received a capital infusion of $35.1 million from its parent, Prosus, the Dutch-listed arm of South African technology investor Naspers.

QpiAI: Quantum computing startup QpiAI raised $32 million in a funding round led by Avataar Venture Partners and India’s National Quantum Mission.

Composio: Agentic artificial intelligence (AI) startup Composio has raised $25 million in funding led by Lightspeed Venture Partners. The round also saw participation from existing investors, such as Elevation Capital and Girish Mathrubootham's Together Fund, in addition to angel investors, such as Gokul Rajaram, Rubrik cofounder Sohum Mazumdar, HubSpot founder Dharmesh Shah, and others.