Total funding for India’s pharma and healthcare sectors in November 2025 amounted to $38.6 million across 10 rounds. This reflects a 71.14 per cent decrease compared with October 2025 and a 34.22 per cent increase compared with November 2024.
Early-stage funding accounted for 73.6 per cent of total investments, while seed-stage funding contributed 26.4 per cent.
The top funding rounds in November 2025 were Pandorum at $10.0 million, followed by Mindtalk at $7.3 million, ImmunitoAI at $6.1 million, HRS Navigation at $5.0 million and Morphie at $5.0 million.
Investor activity included Inflexor participating in one round for Morphie, Gujarat Venture Finance in one round for HRS Navigation, and Rainmatter backing one round for Praan.
Key observations include a month-over-month decline of more than 71 per cent, positioning the month as one of the lowest in the past year. Funding increased 34.22 per cent compared with November 2024. All investment activity occurred in early-stage and seed-stage categories, with early-stage receiving the larger share.