The latest Avendus Wealth–Hurun India U35 List 2026 reveals the top-funded businesses steered by young entrepreneurs, with Reliance Retail Ventures, PRISM (OYO), and Perplexity leading the pack. The report, published on October 15, highlights the substantial capital raised by these companies across various stages of growth and sectors.
The list recognizes 180 entrepreneurs aged 35 and under who are actively building or leading businesses within India. This includes first-generation founders whose companies boast valuations of at least $50 million, alongside next-generation leaders at the helm of family-owned enterprises valued at $100 million or more.
Top-Funded Businesses and Their Leaders
Reliance Retail Ventures, spearheaded by Isha Ambani, tops the funding chart, having raised an impressive $7.41 billion to date. Following closely is PRISM, the entity operating the hospitality technology platform OYO, led by founder Ritesh Agarwal, with cumulative funding of $3.71 billion. Artificial intelligence firm Perplexity, co-founded by Aravind Srinivas, ranks third, securing $1.6 billion.
These figures represent the total funding accumulated by these companies, rather than their most recent fundraising rounds or current market valuations.
Other Noteworthy Fundraisers
- OfBusiness: $890 million
- Rapido: $798 million
- Spinny: $780 million
- Razorpay (Fintech): $742 million
- Decagon AI (Artificial Intelligence): $537 million
- Ninjacart: $413 million
- Slice (Fintech): $387 million
The prominent inclusion of companies like Perplexity and Decagon AI underscores the significant investment flowing into the artificial intelligence sector. Similarly, fintech firms Razorpay and Slice demonstrate the robust growth in financial technology. Mobility and used-car markets are represented by Rapido and Spinny, showcasing capital deployment across diverse business models, from technology-driven ventures to large consumer and retail operations.
Broader Impact of the U35 Cohort
The wider U35 list encompasses a diverse group, including 40 publicly listed companies, which is the largest category by funding stage, followed by 23 companies at Series B. Collectively, businesses featured in the list boast a valuation of ₹48 lakh crore, marking a substantial 23% increase from 2025. This dynamic cohort also contributes significantly to employment, supporting over 5.88 lakh people, a 4.5% year-on-year increase.
While the funding rankings provide a clear measure of capital attracted by businesses led by young entrepreneurs, it is important to note that the amount raised does not solely indicate profitability, financial sustainability, or investment returns. These factors are influenced by operational performance, cost management, and future growth trajectories.