India tech funding climbs 12% to $7.2 bn in H1 2026, but deal count craters 43%
Capital is concentrating: $7.2 bn flowed into Indian tech startups in H1 2026, up 12% YoY, yet only 652 rounds closed — a 43% drop. Retail-adjacent prints include Shadowfax's $782 mn IPO, CRED's $900 mn raise, and upGrad's $216 mn acquisition of Unacademy. 13 IPOs and 58 M&A deals point to consolidation over breadth.
India tech startup funding rose 12% YoY to $7.2 bn in H1 2026 though deal count fell 43%. Retail-adjacent IPOs included logistics player Shadowfax ($782 mn mcap); upGrad acquired Unacademy for $216 mn; CRED raised $900 mn.