About IT Services sector in India
The IT Services sector in India comprises 67.2K companies, including 1.41K funded companies having collectively raised $6.54B in venture capital money and private equity. Out of these, 731 are Series A+ funded, and 2 have achieved unicorn status.
IT Services sector in India has seen 368 acquisitions and 295 IPOs.
This sector includes physical consulting teams, technical field technicians, and hardware deployment engineers providing manual setup, physical server installation, cabling, and localized hardware maintenance for enterprises.
IT Services sector is also known as IT Engineering Services or Technology Services.
Companies providing IT outsourcing services for software application development, software testing, big data, networking, security, virtualization, IT operations, data center, cloud, storage, hosting. Also includes companies distributing or reselling IT infrastructure equipment. Companies providing services related to management/strategy consulting, AR/VR consulting, and Enterprise services such as HR, Marketing, Legal, Telecom, BPO etc are excluded.
Top IT Services Companies in India
There are 67,189 IT Services startups in India which include Fractal Analytics, GirnarSOFT, Infosys, Datamatics, Happiest Minds Technologies. Out of these, 1,406 startups are funded, with 731 having secured Series A+ funding, and 2 achieving unicorn status.
2026 has seen the creation of 1,936 IT Services startups in India. Over the past 10 years, an average of 3,455 new companies have been launched annually. Notably, several of these startups have been founded by alumni of BITS Pilani, IIT Delhi and IIT Bombay.
Here is the list of top IT Services startups in India
Provider of enterprise artificial intelligence solutions across multiple industries. The company offers artificial intelligence, engineering, and design expertise to solve business problems. It assists enterprises in overcoming artificial intelligence barriers and scaling beyond initial pilot programs. The company delivers value for artificial intelligence investments through automated solutions and scalable platforms.
Key facts about Fractal Analytics
- Founded Year: 2000
- Location: New York City (United States)
- Stage: Public
- Total Funding till date: $685M
- Investors: TA Associates, Khazanah Nasional Berhad and 21 Others
- Latest Funding Round: Series D, Jan 05, 2022, $*****
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 1 of 13,362 Competitors
2. GirnarSOFT
Provider of website, web & mobile application development, BI, and digital marketing services. Its other services include cloud computing, mobility consulting, enterprise application development, lead management, and UI & UX designing.
Key facts about GirnarSOFT
- Founded Year: 2007
- Location: Jaipur (India)
- Stage: Series E
- Total Funding till date: $620M
- Investors: Peak XV Partners, Hillhouse and 43 Others
- Latest Funding Round: Convertible Debt, Oct 12, 2021, $*****
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 83,794 Competitors
3. Infosys
Provider of consulting, data analytics, and IT services. Its portfolio includes business process outsourcing & consulting, content management, legal functions, IoT, digital transformation, AI, and cloud services. It provides their solution across various industries including aerospace and defense, agriculture, automotive, chemical manufacturing, communication services, education, and engineering.
Key facts about Infosys
- Founded Year: 1981
- Location: Bengaluru (India)
- Stage: Public
- Investors: Nepean Capital, Seaside Private Capital and 1 Other
- Latest Funding Round: Post IPO, Apr 2008, $*****
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 3 of 159,061 Competitors
4. Datamatics
Provider of digital technologies, business process management, analytics, and automation services. The company delivers information technology solutions, business process management services, and engineering and analytics offerings to help enterprises digitize operations and decision-making. Its portfolio spans digital transformation, finance and customer experience transformation, cloud and application modernization, and artificial intelligence-driven platforms, including intelligent document processing and robotic process automation. Additional services include data management and analytics, business research, demand generation, and outsourced finance and accounting operations for corporate and professional services clients.
Key facts about Datamatics
- Founded Year: 1975
- Location: Mumbai (India)
- Stage: Public
- Total Funding till date: $3M
- Investors: IIML
- Latest Funding Round: PE, Jan 06, 2004, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 6 of 189,390 Competitors
IT outsourcing firm focusing on six lines of businesses, namely IT services, R&D services, product engineering services, remote infrastructure management, testing and consulting. Along with technology solutions and services, provides SaaS solutions such as ComplianceVigil, ThreatVigil, IdentityVigil and CyberVigil. These products provide cloud based compliance management, on-demand threat management and remediation, identity & access governance, identity management and a cyber security platform solution. For the quarter-ended March 31, 2015 the company reached an annualized revenue rate of $50M with 60%+ of business coming from US and has also reported it broke-even during the quarter. Headquartered in Bangalore, it has fourteen offices spread over major business centres in the USA, UK, Singapore, Canada and Australia. Its investors include JPMorgan Private Equity Group, Canaan Capital and Intel Capital. Acquired IoT services company Cupola Technology for an undisclosed amount in May 2017 and US-based digital transformation firm OSSCube in June 2017.
Key facts about Happiest Minds Technologies
- Founded Year: 2011
- Location: Bengaluru (India)
- Stage: Public
- Total Funding till date: $64.8M
- Investors: Canaan, Trident Trust and 37 Others
- Latest Funding Round: Post IPO, Jul 18, 2023, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 7 of 177,841 Competitors
Companies founded year-on-year in the IT Services sector in India
1,936 new startups have been founded so far in 2026 in the IT Services sector in India. 6,841 IT Services startups in India were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 1,936 |
2025 | 897 |
2024 | 1,203 |
2023 | 1,922 |
2022 | 2,402 |
2021 | 3,553 |
2020 | 6,841 |
2019 | 6,200 |
2018 | 5,434 |
2017 | 4,169 |
Stage-wise distribution of IT Services sector companies in India
Out of the total 67,189 IT Services companies in India, 1,406 have secured funding. Among them, 731 have reached Series A or higher, and 689 to Series B or beyond.
Founded - 67,189
Funded - 1,406
Series A+ - 731
Series B+ - 689
Series C+ - 679
Company Stage | No. of companies |
|---|---|
Founded | 67,189 |
Funded | 1,406 |
Series A+ | 731 |
Series B+ | 689 |
Series C+ | 679 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the IT Services sector in India
Total funding year-on-year in the IT Services sector in India
The IT Services sector in India saw a total funding of more than $4.87B in the last 10 years. The most amount of funding was in 2017 at more than $2.7B. There has been a total funding of $100M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $100M |
2025 | $117M |
2024 | $255M |
2023 | $121M |
2022 | $582M |
2021 | $342M |
2020 | $5.8M |
2019 | $418M |
2018 | $224M |
2017 | $2.7B |
Recent Funding Rounds in IT Services in India
In the year 2026, till August 2026, IT Services companies in India have raised $24.3M in equity funding across 10 rounds.
In the same period last year (i.e. till August 2025), IT Services companies in India had raised $105M across 17 rounds.
So, 2026 has seen a 76.88% drop in funding in IT Services companies in India as compared to 2025.
Here are some recent, important funding rounds in IT Services companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 7660 | Aug 11, 2026 | ||
Seed | 2500 | Jun 04, 2026 | - | |
Seed | 2407 | May 12, 2026 | - | |
Series A | 1597 | May 08, 2026 | ||
Seed | 3843 | May 07, 2026 |
Top Investors in IT Services in India
Kerala Startup Mission is the top investor in IT Services companies in India based on number of companies invested.
Here are some top investors in IT Services companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Thiruvananthapuram (India) | ||
Palo Alto (United States) | ||
Bengaluru (India) | ||
Menlo Park (United States) | ||
Bengaluru (India) |
M&A activity in IT Services sector in India
In the year 2026, till August 2026, 15 acquisitions happened in IT Services sector in India. Last year, in 2025, a total of 24 acquisitions happened in IT Services sector in India.
Here are some recent, important acquisitions in IT Services sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Aug 18, 2026 | ||
Business Acquisition | Aug 10, 2026 | ||
Business Acquisition | Jun 29, 2026 | ||
Business Acquisition | Jun 23, 2026 | ||
Business Acquisition | Jun 04, 2026 |
_1583135622377.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Acquisition trends in IT Services sector in India
Here are the acquisition trends in IT Services sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 15 |
2025 | 24 |
2024 | 33 |
2023 | 30 |
2022 | 50 |
2021 | 37 |
2020 | 18 |
2019 | 20 |
2018 | 17 |
2017 | 21 |
IPOs in IT Services in India
In the year 2026, till August 2026, 8 IPOs happened in IT Services sector in India.
Here are some recent, important IPOs in IT Services sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Aug 21, 2026 | Bombay Stock Exchange (BSE) | |
Jul 30, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Jul 07, 2026 | Bombay Stock Exchange (BSE) | |
Jul 02, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Apr 20, 2026 | National Stock Exchange (NSE) |
Colleges which produce the most IT Services companies in India
Companies founded by alumni from top colleges in the IT Services in India
Most number of IT Services startups in India have been founded by alumni from BITS Pilani, IIT Delhi and IIT Bombay.
College | No. of companies |
|---|---|
BITS Pilani | 109 |
IIT Delhi | 100 |
IIT Bombay | 67 |
IIT Kharagpur | 52 |
IIT Madras | 51 |
IIT Kanpur | 44 |
IIT Roorkee | 32 |
IIM Calcutta | 30 |
IIM Ahmedabad | 29 |
IIM Bangalore | 28 |
Total funding in IT Services companies founded by alumni from top colleges in India
In the last 10 years, IIT Madras graduates' IT Services companies in India have raised the most funding among top colleges. IIM Ahmedabad alumni are second, and IIT Delhi alumni are third.
College | Total Funding |
|---|---|
IIT Madras | $692M |
IIM Ahmedabad | $690M |
IIT Delhi | $646M |
IIT Bombay | $257M |
BITS Pilani | $170M |
IIT Roorkee | $127M |
IIT Kanpur | $103M |
IIT Kharagpur | $36.8M |
IIM Bangalore | $15.4M |
BIT Mesra | $11.5M |
Top News in IT Services in India
•
Kyndryl and Broadcom deepen partnership for AI-ready private cloudsVerdict•Aug 28, 2026•Broadcom, Kyndryl
•
Hexaware and Ashoka Innovators Partner to Support Social Entrepreneurs in IndiaBusinessnewsthisweek•Aug 25, 2026•Hexaware
•
•
•
•
Hexaware Introduces Zero Friction Enterprise Framework Bundling AI ServicesSiliconAngle•Aug 17, 2026•Hexaware
•
•
Mphasis Achieves EcoVadis Silver Medal 2026, Ranking Among Top Global CompaniesBusinessnewsthisweek•Aug 10, 2026•Mphasis
•
Hexaware Joins Microsoft Intelligent Security Association (MISA)Businessnewsthisweek•Aug 06, 2026•Hexaware
•
