India’s pharma and healthcare startup ecosystem recorded a total funding of $254.7 million across 10 rounds in May 2025, according to the Express Pharma & Healthcare Funding Snapshot – May 2025 released by Tracxn. This represents a 462.36 per cent increase from April 2025 and a 44.20 per cent rise compared to May 2024.
Seed-stage funding accounted for 61.9 per cent of the total funding during the month. Early-stage investments contributed 18.0 per cent, while late-stage funding comprised 20.1 per cent of the overall capital raised.
PB Healthcare secured the largest funding deal of the month at $156 million. Other significant deals included Vetic ($26.2 million), Pharmazz ($25.0 million), CureBay ($21.0 million), The Good Bug ($11.9 million), and DentCare ($10.6 million).
Several venture capital firms made strategic investments in May. Bessemer Venture Partners backed Vetic, Bertelsmann India Investments supported CureBay, and SIG Venture Capital invested in The Good Bug. Each of these firms participated in one funding round.
Tracxn’s data highlights three key trends: a significant recovery in funding compared to April 2025, a high concentration of seed-stage rounds, and the dominant share of the PB Healthcare deal in total capital raised.
These developments indicate a return of investor confidence and continued interest in India’s pharma and healthcare startup segment.