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India Auto Tech companies raised USD 1.3 billion across 97 rounds between January 1 and October 15, 2026, down from USD 2.1 billion across 195 rounds in 2025, according to Tracxn Technologies’ India Auto Tech - 2026 Report. The figures cover US dollar equity funding and exclude debt, grant, post-IPO and ICO funding. The report records no new unicorn in the period.
Funding is concentrated in a few large rounds. Ten rounds of USD 34 million or more totalled USD 900 million, about 70% of the year’s funding. The other 87 rounds raised about USD 400 million. Rapido’s USD 240 million Series F in May 2026 was the largest, about 18% of the total, followed by Simple Energy’s USD 180 million Series C in September and Rideriver’s USD 102 million Series C. Rapido, a Bengaluru-based bike taxi ride-hailing company, has raised USD 798 million in all. WestBridge Capital, Prosus and Invus were among the eight investors in its round.
Later-stage rounds dominate. Series C and later rounds made up 8 of the 10 largest rounds and totalled USD 810 million, about 60% of the funding. The other two were Ecofy’s USD 55 million Series B in March and Yuma Energy’s USD 35 million Series A in September. Six of the eight later-stage companies are based in Bengaluru with Euler Motors in Delhi and GreenCell Mobility in Mumbai.
Bengaluru leads by a wide margin. The city raised USD 894 million, about 70% of the total. Delhi and Mumbai followed with USD 107 million each and Gurugram with USD 63 million. Euler Motors’ USD 48 million Series E was Delhi’s largest round, while Ecofy’s Series B and GreenCell Mobility’s USD 34 million Series D made up most of Mumbai’s total.
Exits slowed. The sector recorded four acquisitions in 2026 YTD against five in 2025. Gurugram-based Cars24 made two of them, acquiring CarInfo for USD 44.4 million in January and Vehicleinfo in March. Roadzen acquired VehicleCare in January and 91trucks acquired MotorFloor in March.
IPOs halved. Three companies listed, against six in 2025 with a combined market capitalisation of about USD 52 million. Sotefin had the highest at USD 35 million, followed by Victory EV India at USD 11 million and AutoFurnish at USD 6 million.
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