India, April 17 -- While the funding raised by Indian startups remained flat quarter-on-quarter at $3.1 Bn in the first quarter of 2025, investors continued to accumulate dry powder. A total of 23 funds worth over $3.2 Bn were launched in the March quarter to back Indian startups, as per Inc42's 'Indian Tech Startup Funding Report, Q1 2025'.

Amid the ongoing debate over the lack of deeptech innovations in the country, a limited investor interest in deeptech was seen in new fund launches in Q1 as well.

Only three out of the 23 funds launched for startups in Q1 2025 focussed on the deeptech sectors such as robotics, frontier models in AI, semiconductor, EV infrastructure, next-gen healthcare, defence tech, aerospace and drones, and more....