India’s B2C e-commerce raises $1.3 billion in 2025; women-led startups cross $8 billion milestone
As per Tracxn, women-led startups have raised over $8 billion across more than 1,900 rounds, with seven unicorns, 60+ acquisitions, and 10 public listings emerging from this segment.
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India’s B2C e-commerce sector has raised $1.3 billion in funding so far in 2025, underscoring steady investor confidence in the country’s digital commerce ecosystem, according to market intelligence platform Tracxn.
Over the past decade (2016–2025), annual funding in the segment has surged from $2.1 billion in 2016 to a peak of $11.6 billion in 2021.
Top funding rounds this year include Spinny’s $171 million Series F ($131 million + $40 million), followed by Zepto at $ 170 million and $49 million, respectively, GIVA, which raised $68 million across Series C ($62 million) and Series B ($6 million), and TMRW’s $50 million Series C.
Women-led innovation continues to be a key force in shaping India’s e-commerce evolution. As per Tracxn, women-led startups have raised over $8 billion across more than 1,900 rounds, with seven unicorns, 60+ acquisitions, and 10 public listings emerging from this segment.
India’s B2C e-commerce ecosystem currently comprises over 34,000 startups, of which 22,000 were founded between 2016 and 2025, accounting for nearly two-thirds of the total. The sector’s expansion has been driven by smartphone adoption, digital infrastructure growth, and shifting consumer behaviour.
Flipkart remains India’s most-funded B2C startup with $12.1 billion raised to date, followed by Ola ($3.8 billion), Swiggy ($3.6 billion), and OYO ($3.5 billion). Zepto has raised nearly $3 billion YTD, while other notable players include Snapdeal ($1.8 billion), Zomato ($1.7 billion), Meesho ($1.4 billion), Cars24 ($1.1 billion), and Lenskart ($1.1 billion).
Around 1,100 venture capital firms have invested in India’s B2C e-commerce sector to date. Accel leads with 132 rounds, followed by Blume Ventures (129), Fireside Ventures (102), and Peak XV Partners (97).
The sector has recorded 235 acquisitions so far. Recent deals include Pepperfry (acquired by TCC Concept), Dusminute (acquired by Star Localmart), Shunya (acquired by Reliance Consumer Products), Zodiz (acquired by Kothari Industrial Corporation), and Rubans (acquired by Ananta Capital). These reflect continued strategic consolidation within the ecosystem.
“Funding in India’s B2C e-commerce space continues to reflect a phase of steady maturity. The surge in digital infrastructure, improved access to capital, and growing investor confidence in long-term consumer behaviour have shaped a more stable funding environment,” said Neha Singh, Co-Founder, Tracxn.
