Mumbai raised $587 Mn across 60 deals in H1 2026, down 31% in value year on year, tracking a national total of $5.2 Bn across 501 deals
India’s healthtech startups raised about $700 Mn across 54 deals in 2025, down from 78 deals in 2024, slipping from fourth to eighth by capital raised
PharmEasy ($1.96 Bn), Piramal Group ($771.89 Mn) and Medikabazaar ($192.55 Mn) lead the city’s funding table, ahead of Ascent ($181.26 Mn) and Truemeds ($176.47 Mn)
Only four rounds of $100 Mn-plus closed nationally in H1 2026, against 11 a year earlier; Datalabs projects healthtech to grow at a 39% CAGR to $37 Bn by 2030
Mumbai, India’s financial capital, hosts a substantial concentration of healthtech startups, led by names such as PharmEasy and Medikabazaar. The city raised $587 Mn across 60 deals in H1 2026 (January to June), a 31% decline in value year on year, tracking the wider national slowdown that pulled India’s total funding down 9% to $5.2 Bn across 501 deals over the same period. Only four rounds of $100 Mn or more closed nationally in H1 2026, against 11 a year earlier, and Mumbai felt that pullback in large cheques.
Healthtech remains a meaningful part of the city’s deal flow. India’s healthtech startups raised about $700 Mn across 54 deals in 2025, down from 78 deals in 2024, with the sector slipping from fourth to eighth by capital raised; Datalabs still projects a 39% CAGR to $37 Bn by 2030. In 2024, healthtech pulled in $0.7 Bn across 78-plus deals. Mumbai’s healthtech base spans diagnostics, insurance-linked care, online pharmacy and hospital software.
Policy continues to support the base. Maharashtra’s startup framework targets INR 5,000 Cr in early-stage funding and offers patent-filing incentives of up to an 80% rebate, designed to attract innovators to set up in the state.
With that, here are the top 30 funded healthtech startups in Mumbai, ranked by total funding raised.
