Delhi NCR leads India's D2C funding league with $3.5 Bn across 434 deals, edging out Bengaluru ($3.4 Bn) and Mumbai ($2 Bn). Top-3 cities captured 89% of $10 Bn total D2C funding. D2C projected to capture 86% of the $285 Bn ecommerce GMV addition through 2031, growing at 37% CAGR versus 22% for broader ecommerce.

Inc42 · 5/13/2026, 6:13:57 PM