About Vertical SaaS sector in India
The Vertical SaaS sector in India comprises 18.1K companies, including 1.91K funded companies having collectively raised $16.3B in venture capital money and private equity. Out of these, 564 are Series A+ funded, and 13 have achieved unicorn status.
Vertical SaaS sector in India has seen 252 acquisitions and 27 IPOs.
This sector includes companies building Software-as-a-Service platforms purpose-built to manage operational workflows unique to a single industry vertical.
Vertical SaaS sector is also known as Vertical Software or Industry-Specific SaaS.
It includes specific salon booking and point-of-sale software, dedicated construction project scheduling software, restaurant kitchen management dashboards, and customized hotel property management platforms. It excludes generic horizontal cloud software lines (like general Salesforce CRM, broad Microsoft Excel tools, or horizontal QuickBooks accounting applications).
Top Vertical SaaS Companies in India
There are 18,080 Vertical SaaS startups in India which include Shiprocket, Razorpay, Petpooja, Ekincare, GreytHR. Out of these, 1,911 startups are funded, with 564 having secured Series A+ funding, and 13 achieving unicorn status.
2026 has seen the creation of 1,141 Vertical SaaS startups in India. Over the past 10 years, an average of 912 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, BITS Pilani and IIT Bombay.
Here is the list of top Vertical SaaS startups in India
1. Shiprocket
Provider of e-commerce shipping, fulfillment, marketing, and financial services. The business offers tools for domestic and cross-border shipping, including integrations with courier partners. Fulfillment services encompass warehousing, packaging, and shipping. Marketing solutions include checkout optimisation and customer engagement tools. Financial services provide capital and credit score assessment.
Key facts about Shiprocket
- Founded Year: 2012
- Location: Delhi (India)
- Stage: Public
- Total Funding till date: $322M
- Investors: Temasek, Bertelsmann India Investments and 63 Others
- Latest Funding Round: Series E, Dec 23, 2024, $*****
- Tracxn Score: 87/100 What is this?
- Competitors Rank: 1 of 1,521 Competitors
2. Razorpay
Provider of payment and business banking solutions for enterprises. The company offers tools for payment acceptance, automated payroll, and business banking. Solutions include payment gateways, current accounts, and corporate credit cards. It also provides developer resources such as API documentation and integration tools.
Key facts about Razorpay
- Founded Year: 2014
- Location: Bengaluru (India)
- Stage: Series F
- Total Funding till date: $742M
- Investors: Peak XV Partners, GIC and 36 Others
- Latest Funding Round: Series F, 2022, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 3 of 8,883 Competitors
3. Petpooja
All-in-one software powering SME growth with POS, payroll, and more. They offer integrated solutions for small and medium businesses, specializing in restaurant POS software, payroll management, GST billing, invoice processing, and task automation. Their ecosystem empowers SMEs through industry expertise and creative problem-solving, driving efficiency and unlocking new possibilities. They provide solutions for attendance tracking, payroll management, leave monitoring, inventory management, and task management. They focus on simplicity, continuous innovation, transparent pricing, and dedicated support. Their offerings include POS, billing, inventory management, online ordering, CRM, menu management, and reporting. They cater to various outlet types, including fine dining, QSR, cafes, and cloud kitchens. They are a technology company offering SaaS solutions.
Key facts about Petpooja
- Founded Year: 2011
- Location: Ahmedabad (India)
- Stage: Series C
- Total Funding till date: $27M
- Investors: Gujarat Venture Finance, udaan and 34 Others
- Latest Funding Round: Series C, Sep 26, 2025, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 3 of 4,616 Competitors
4. Ekincare
Provider of employee health benefits platform offering health and wellness programs. The platform facilitates health checks, telemedicine, pharmacy delivery, and mental health support. It also provides access to fitness centers, medical rooms, and healthcare financing options. The platform offers customized engagement and data-driven insights through real-time dashboards.
Key facts about Ekincare
- Founded Year: 2015
- Location: Hyderabad (India)
- Stage: Series B
- Total Funding till date: $28M
- Investors: Ventureast, HealthQuad and 43 Others
- Latest Funding Round: Series B, Jan 30, 2026, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 3 of 1,329 Competitors
5. GreytHR
Provider of cloud based human resource management system and payroll software.. The software offers a suite of tools for managing human resources and payroll processes. Features include workforce management, employee relations, leave and attendance tracking, recruitment management and payroll processing. The platform also provides an employee self service portal for tasks such as accessing payslips and managing leave requests. The software automates manual processes, manage performance in HR and payroll operations. It includes reporting capabilities and integrates with existing IT infrastructure. It is a tool available on the subscription based pricing model.
Key facts about GreytHR
- Founded Year: 1994
- Location: Bengaluru (India)
- Stage: Acquired
- Total Funding till date: $47.4M
- Investors: New Enterprise Associates, Info Edge and 14 Others
- Latest Funding Round: Series F, Sep 03, 2024, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 4 of 3,348 Competitors
Companies founded year-on-year in the Vertical SaaS sector in India
1,141 new startups have been founded so far in 2026 in the Vertical SaaS sector in India. 1,261 Vertical SaaS 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 | 1,141 |
2025 | 813 |
2024 | 780 |
2023 | 749 |
2022 | 736 |
2021 | 922 |
2020 | 1,261 |
2019 | 1,009 |
2018 | 852 |
2017 | 865 |
Stage-wise distribution of Vertical SaaS sector companies in India
Out of the total 18,080 Vertical SaaS companies in India, 1,911 have secured funding. Among them, 564 have reached Series A or higher, and 379 to Series B or beyond.
Founded - 18,080
Funded - 1,911
Series A+ - 564
Series B+ - 379
Series C+ - 323
Company Stage | No. of companies |
|---|---|
Founded | 18,080 |
Funded | 1,911 |
Series A+ | 564 |
Series B+ | 379 |
Series C+ | 323 |
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Funding Trends in the Vertical SaaS sector in India
Total funding year-on-year in the Vertical SaaS sector in India
The Vertical SaaS sector in India saw a total funding of more than $13.3B in the last 10 years. The most amount of funding was in 2021 at more than $3.98B. There has been a total funding of $549M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $549M |
2025 | $1.12B |
2024 | $1.28B |
2023 | $831M |
2022 | $2.69B |
2021 | $3.98B |
2020 | $964M |
2019 | $1.17B |
2018 | $499M |
2017 | $235M |
Recent Funding Rounds in Vertical SaaS in India
In the year 2026, till September 2026, Vertical SaaS companies in India have raised $538M in equity funding across 94 rounds.
In the same period last year (i.e. till September 2025), Vertical SaaS companies in India had raised $960M across 165 rounds.
So, 2026 has seen a 44% drop in funding in Vertical SaaS companies in India as compared to 2025.
Here are some recent, important funding rounds in Vertical SaaS companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 9574 | Sep 24, 2026 | ||
Seed | 5457 | Sep 17, 2026 | ||
Series D | 4347 | Sep 15, 2026 | ||
Series A | 6760 | Aug 28, 2026 | ||
Series A | 6871 | Aug 27, 2026 | - |
Top Investors in Vertical SaaS in India
Accel is the top investor in Vertical SaaS companies in India based on number of companies invested.
Here are some top investors in Vertical SaaS companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Redwood City (United States) | ||
Cambridge (United States) | ||
Menlo Park (United States) | ||
Bengaluru (India) |
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M&A activity in Vertical SaaS sector in India
In the year 2026, till September 2026, 17 acquisitions happened in Vertical SaaS sector in India. Last year, in 2025, a total of 22 acquisitions happened in Vertical SaaS sector in India.
Here are some recent, important acquisitions in Vertical SaaS sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Sep 17, 2026 | ||
Business Acquisition | Sep 15, 2026 | ||
Business Acquisition | Jul 06, 2026 | ||
Business Acquisition | Jun 26, 2026 | ||
Business Acquisition | May 28, 2026 |
Acquisition trends in Vertical SaaS sector in India
Here are the acquisition trends in Vertical SaaS sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 17 |
2025 | 22 |
2024 | 16 |
2023 | 18 |
2022 | 47 |
2021 | 40 |
2020 | 13 |
2019 | 22 |
2018 | 13 |
2017 | 11 |
IPOs in Vertical SaaS in India
In the year 2026, till August 2026, 3 IPOs happened in Vertical SaaS sector in India.
Here are some recent, important IPOs in Vertical SaaS sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Aug 19, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Feb 24, 2026 | Bombay Stock Exchange (BSE) | |
Jan 21, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Nov 26, 2025 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Oct 08, 2025 | Bombay Stock Exchange (BSE) |
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Colleges which produce the most Vertical SaaS companies in India
Companies founded by alumni from top colleges in the Vertical SaaS in India
Most number of Vertical SaaS startups in India have been founded by alumni from IIT Delhi, BITS Pilani and IIT Bombay.
College | No. of companies |
|---|---|
IIT Delhi | 178 |
BITS Pilani | 155 |
IIT Bombay | 152 |
IIT Kharagpur | 133 |
IIT Kanpur | 96 |
IIM Bangalore | 89 |
IIT Madras | 88 |
IIM Ahmedabad | 72 |
IIM Calcutta | 72 |
IIT Roorkee | 71 |
Total funding in Vertical SaaS companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' Vertical SaaS companies in India have raised the most funding among top colleges. IIM Ahmedabad alumni are second, and IIT Kharagpur alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $3.1B |
IIM Ahmedabad | $2.42B |
IIT Kharagpur | $1.67B |
Carnegie Mellon University | $1.33B |
XLRI- Xavier School of Management | $1.19B |
IIT Roorkee | $1.14B |
IIT Bombay | $1.1B |
Wharton School | $1.1B |
BITS Pilani | $961M |
IIT Madras | $843M |
Top News in Vertical SaaS in India
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ANSCER Robotics Secures FCC Conditional Approval for Autonomous Mobile RobotsRoboticstomorrow•Sep 19, 2026•ANSCER
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iServeU Partners with Maximize Money to Scale Gift Card OfferingsBusinessnewsthisweek•Aug 27, 2026•iServeU
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Unicommerce Reports Rs 51 Cr Revenue and Rs 4.7 Cr Profit in Q1 FY27Entrackr•Aug 13, 2026•Unicommerce
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iServeU Secures OVSE Certification from UIDAI for Offline Identity VerificationExpress Computer•Jul 03, 2026•iServeU
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