India, April 8 -- The second quarter of 2026 has begun on a strong note for the Indian startup ecosystem, with KreditBee raising $280 Mn in a unicorn-minting round. However, the preceding quarter painted a far less optimistic picture for India's startup funding landscape, as geopolitical tensions dampened investor appetite.

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Overall capital inflows into Indian startups fell 26% YoY to $2.3 Bn during the quarter. More strikingly, the world's third-largest startup ecosystem failed to record a single mega funding round.

While the number of mega deals has fluctuated across quarters in recent years, a complete absence of $100 Mn+ rounds is a rarity. This is the first time since 2022 when a quarter has seen no mega deal.

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