India, April 2 -- It was a subdued March for the Indian startup ecosystem. The escalating tensions in West Asia continued to trigger supply chain shocks and market volatility, resulting in the bloodbath for new-age tech stocks.

Meanwhile, skyrocketing oil prices inflated operating costs for startups in logistics-intensive mobility and food delivery sectors. The ensuing LPG crisis has temporarily thrown many eateries out of work.

The impact was also visible on the investment front. As per Inc42, Indian startups cumulatively raised $2.3 Bn in Q1 2026, down 26% from $3.1 Bn in the year-ago quarter. The deal count also declined 13% YoY to 260 during the quarter.

On the IPO front, too, there was not much to look forward to in March as only ...