Delhi NCR Tops India's D2C Hub Rankings With $3.5 Bn Across 434 Deals Since 2015

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.

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

Inc42 · 5/13/2026, 6:13:57 PM · Ask about this →

Delhi NCR D2C ecosystem + Bombay Shaving Company + Honasa Consumer + Lenskart + Mamaearth + Moxie Beauty + Wingreens Farms +