Nikhil Kamath backs post urging startups to raise funds now as tougher times may lie ahead
Zerodha co-founder Nikhil Kamath replied with a "100" emoji to an X post advising firms to raise money now, even as India's funding deals fell in number but rose in value.
A short post and a single emoji are drawing attention in the startup world. Zerodha co-founder Nikhil Kamath has agreed with a post advising companies that if they want to raise funds, they should do so now, because the coming year could be difficult.
The post was put up on Thursday night on the social media platform X by a user named Arvind. He wrote that startups or companies planning to raise funds should not delay at all, and that this may be the best time. He advised raising enough to last the next one or two years comfortably, being careful about spending, and parking leftover money where it can be withdrawn immediately if needed. The last line of the post said: "The times ahead could be bad."
In reply, Kamath posted only the "100" emoji, meaning he agrees completely. He wrote nothing more. The post has been viewed by more than two lakh people and liked by more than six thousand.
According to a Tracxn report, India saw 1,134 funding rounds in the first nine months of 2026, against 1,838 in the same period last year, a sharp fall in the number of deals. The total amount, however, did not drop. It rose slightly from $9.7 billion to $10.3 billion, which means fewer but larger deals.
Bengaluru benefited the most. Cred raised $540 million, Rapido $240 million and Sarvam $234 million. CreditBee raised $220 million, Udaan $160 million and Emergent $130 million. Rideriver, Slice, Navi and Pixxel also raised at least $100 million each.
There is a harder side as well. Holding on to unicorn status is no longer easy for companies, as investors are re-examining valuations. According to Tracxn, at least ten Indian startups have seen their valuations fall since 2024 and have dropped off the unicorn list. A private company valued at $1 billion or more is called a unicorn.
After the excessive funding of 2021, the market is now settling. Investors are asking where the profit will come from and whether growth is sustainable. The emphasis on profitability has grown. Meanwhile, AI has changed the game.
The rush for AI has pulled a large share of foreign capital towards the United States. In India too, a large part of new investment funds is being set aside for AI companies. Accel's new $550 million India fund is a good example. It will begin investing next year, with AI as its main focus.
