30 Startups To Watch: Startups That Caught Our Eye In March 2026
by Akshit Pushkarna · Inc42SUMMARY
- Geopolitical tensions, rising oil prices and an LPG crisis disrupted operations and dragged down public tech stocks in March
- Startup funding fell 26% YoY to $2.3 Bn in Q1 2026, with deal activity declining and IPO momentum slowing
- Amid this, we are back with the latest edition of 30 Startups to Watch, which highlights a growing deeptech ecosystem taking shape in India
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It was a subdued March for the Indian startup ecosystem. The escalating tensions in West Asia continued to trigger supply chain shocks and market volatility, resulting in the bloodbath for new-age tech stocks.
Meanwhile, skyrocketing oil prices inflated operating costs for startups in logistics-intensive mobility and food delivery sectors. The ensuing LPG crisis has temporarily thrown many eateries out of work.
The impact was also visible on the investment front. As per Inc42, Indian startups cumulatively raised $2.3 Bn in Q1 2026, down 26% from $3.1 Bn in the year-ago quarter. The deal count also declined 13% YoY to 260 during the quarter.
On the IPO front, too, there was not much to look forward to in March as only one new-age tech company managed to list on the bourses (SEDEMAC). Amid the escalating geopolitical tensions, PhonePe put its listing plans on the back burner.
However, not everything was doom and gloom. Zetwerk and RentoMojo filed their DRHPs, while sectoral giants like Flipkart, Jio Platforms, and Moneyview continued their IPO journeys. Consolidation activity also remained strong, while Indian AI startups continued to see renewed investor interest.
Amid this backdrop, we are back with “30 Startups To Watch”.