Delhi NCR overtakes Bengaluru as India's top D2C hub with $3.5 Bn raised across 434 deals

Inc42's D2C 3.0 Report crowns Delhi NCR India's leading D2C hub, ahead of Bengaluru ($3.4 Bn) and Mumbai ($2 Bn). Indian D2C is projected to capture $245 Bn of the $285 Bn ecommerce GMV addition by 2031, growing at 37% CAGR. Recent rounds: BSC $16.3 Mn, Wingreens $12.6 Mn, Moxie $15 Mn.

— Filed Wed, 13 May, 2026, 21:02 IST · Source Inc42 · Buzz · Updated

Inc42 D2C 3.0 Report names Delhi NCR India's top D2C hub with $3.5 Bn across 434 deals since 2015, ahead of Bengaluru and Mumbai. India's D2C is projected to capture $245 Bn of $285 Bn ecommerce GMV addition by 2031.