D2C startups take every third Indian funding deal in October

A bigger share than earlier this year

The October figure is well above the levels seen earlier in 2026. In the first half of the year, D2C startups won 125 of 614 deals, or 20.36%. In the third quarter, they took 55 of 255 deals, a share of 21.57%.

In other words, the proportion of deals going to D2C brands rose by roughly 12 percentage points compared with the third quarter, at a time when total funding was falling. The numbers point to consumer-focused brands taking a growing share of India's startup funding activity.

Why it matters

For founders and investors, the data suggests that consumer brands held up better than many other segments during a weak month for fundraising. The timing coincides with the festive period, which the data frames as a boost for the category.

One month does not make a trend, and the figures cover deal counts and amounts rather than the size of individual rounds. Whether D2C can keep its higher share will become clearer as November and December data arrives and shows if investor appetite for consumer brands holds beyond the festive season.