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India’s business-to-consumer e-commerce sector has raised $1.3 billion in funding this year, bringing total all-time investment to over $57 billion, according to a report released today by market intelligence platform Tracxn. Spinny led 2025 funding with a $171 million Series F round, followed by jewellery brand GIVA’s $68 million and fintech firm TMRW’s $50 million Series C. Quick-commerce platform Zepto raised $49 million across three Series G rounds. The sector comprises over 34,000 startups, with more than 22,000 founded between 2016 and 2025. Bengaluru remains the top funded city with $33.8 billion in cumulative investment, followed by Delhi NCR at $16.7 billion. The sector has recorded 102 mega deals exceeding $100 million each, with Flipkart remaining the most funded startup at $12.1 billion, followed by Ola, Swiggy and OYO. Women-led startups have collectively raised over $8 billion across 1,900 rounds, with seven achieving unicorn status. GIVA and Foxtale secured $68 million and $30 million respectively this year. The ecosystem has produced 31 unicorns to date, with Rapido being the most recent in July 2024. The sector has also witnessed 235 acquisitions and 64 IPOs, including recent listings by Zappfresh, Urban Company and BlueStone Jewellery. Nearly 1,100 venture capital firms have invested in the sector, led by Accel, Blume Ventures and Fireside Ventures. Tracxn Technologies Ltd. tracks over five million entities across 2,900 feeds globally. Tracxn is among the world’s top players in terms of the number of private companies and web domains profiled, making it a key source of startup and venture funding data Published on October 23, 2025
