Perplexity Secures $100 Million with $18 Billion Valuation, Eyes Growth in India

The AI startup Perplexity has raised $100 million, achieving a valuation of $18 billion. Since May 2025, the company’s value has increased by $4 billion, according to Bloomberg.

This funding round continues from the previous investment phase, as new investors expressed interest in participating at a higher valuation.

Perplexity is an AI search engine that competes with Google by integrating artificial intelligence capabilities, web searching, and data analysis. Recently, the company launched Comet, a browser equipped with an assistant able to carry out tasks on behalf of its users.

The platform serves approximately 30 million users and generates an annual revenue of $150 million.

While OpenAI strengthens its position in the US, Perplexity is making stealthy strides in India. The startup is rapidly attracting millions of users in the second-largest internet and smartphone market.

On July 17, the company formed a partnership with Bharti Airtel, one of the largest telecom operators in the country, offering a free year of Pro subscription for $200 to all of the operator’s 360 million customers.

The deal is exclusive, meaning no other company will be able to provide a similar service.

This new partnership represents a significant move for Perplexity as it seeks to expand globally, which includes agreements with over 25 telecom providers worldwide. Recent contracts have been announced with SoftBank in Japan and SK Telecom in South Korea.

Earlier this year, Perplexity signed a deal with Indian fintech giant Paytm, providing access to their AI search engine through the Paytm app, which has been downloaded over 500 million times. It ranks among the top three on the Unified Payment Interface established by the Indian government, processing over 1.2 billion transactions monthly, totaling more than 1.34 trillion Indian rupees (approximately $15.6 billion).

Perplexity’s CEO, Aravind Srinivas has taken concrete steps to enhance the firm’s presence in the world’s most populous country. In January, he announced plans to hire a local executive, but later put this on hold after receiving a “huge” number of applications, facing an overwhelming response. He also announced a $1 million investment and committed to devote five hours a week to a team focused on developing AI technologies in India.

According to Sensor Tower, in the second quarter, downloads of the Perplexity app in India surged by 600% year-over-year, reaching 2.8 million. In comparison, ChatGPT saw a 587% increase, hitting 46.7 million downloads.

The rise in active users confirms the overall trend. In the second quarter, the number of MAU in India grew by 640% annually.

ChatGPT experienced a growth of 350%. Yet, OpenAI’s chatbot still leads significantly in absolute numbers, with 19.8 million active users monthly compared to Perplexity’s 3.7 million.

TechCrunch noted that Perplexity views India as a key market for expansion. There are few local AI startups, especially in the search domain, but a significant and engaged audience of tech-savvy users exists.

Despite having a large audience, Perplexity continues to face monetization challenges. In terms of revenue, the company lags behind ChatGPT, even though both offer a subscription priced at $20 per month.

According to Sensor Tower, ChatGPT’s revenue from purchases in the second quarter surged by 731% year-over-year, reaching $773 million, whereas Perplexity saw a 300% increase, with earnings only reaching $8 million.

Recall that in July, Coinbase announced a partnership with AI startup Perplexity to provide traders with access to verified data and current information about the cryptocurrency market.