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Reliance Retail Ventures tops Hurun India U35 funding ranking with $7.41 billion, ahead of OYO and Perplexity
Our read
Reliance Retail Ventures will more likely than not remain the top-funded name on the Hurun India U35 list, with its $7.41 billion total well ahead of PRISM (OYO) and Perplexity.
For operators
Reliance Retail Ventures tops the Avendus Wealth–Hurun India U35 List 2026 on cumulative funding at $7.41 billion, so rival retail operators are competing against the deepest-funded name in the ranking.
Watch
Cohort valuation growth above the 23% reported, in the next Hurun U35 list, would mean funding is still compounding and rivals can narrow Reliance Retail's lead.
The report,
Reliance Retail Ventures topped the Avendus Wealth–Hurun India U35 List 2026 funding ranking with $7.41 billion raised, ahead of PRISM (OYO) at $3.71 billion and Perplexity at $1.6 billion, according to the report released on October 15.
- Reliance Retail Ventures$7.41 billion
- PRISM (OYO)$3.71 billion
- Perplexity$1.6 billion
- OfBusiness$890 million
- Spinny$780 million
- Razorpay$742 million
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Reported figures
From the report. Source details below
| OfBusiness cumulative funding: | $890 million |
|---|---|
| Razorpay cumulative funding: | $742 million |
| Spinny cumulative funding: | $780 million |
| U35 cohort combined valuation: | ₹48 lakh crore |
| U35 cohort valuation growth from 2025: | 23% |
Why it matters to operators and investors
Reliance Retail Ventures, PRISM (OYO) and Perplexity lead cumulative funding at $7.41 billion, $3.71 billion and $1.6 billion, so well-funded names like these are unlikely to be cheap acquisition targets and the 23% rise in cohort valuation points to richer entry prices.
What to watch next
- Any new external fundraise or stake sale at Reliance Retail Ventures
- Reliance Retail's next quarterly results: revenue growth and store additions
- New funding rounds announced by PRISM (OYO) or Perplexity against $3.71 billion and $1.6 billion
- Reliance management commentary on retail listing or capital plans at its next shareholder meeting
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Reliance Retail is likely to keep using its position as the top-funded name on the list to defend its valuation in investor and lender discussions.
- Expect Reliance Retail to keep adding stores and digital commerce capacity funded largely from group resources, rather than make a sharp strategic turn.
- PRISM (OYO) and Perplexity may seek further rounds to close the gap with Reliance Retail Ventures, though the funding distance is large.
- Venture and growth investors are likely to cite the cohort's ₹48 lakh crore valuation, up 23%, when backing late-stage consumer and technology companies.
- Rival retailers and consumer-internet firms may stress their own funding runway in response, as capital depth becomes a competitive talking point.
The source
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