New Delhi, May 11 (AHN) Delhi NCR's tech ecosystem raised $1.7 billion across 110 rounds in Q1 2026, moderating from $1.9 billion raised in the previous year, due to investors being selective and concentrating capital on select deals, a report said on Monday.

The report from data intelligence platform Tracxn Technologies Limited noted a profound shift in capital structure as deal count eased to 110 from 153 in Q1 2025, even as three deals accounted for $1.2 billion, or 71 per cent of the quarter's entire haul.

The trend does not indicate "a market in retreat; but a market in selection," it said. Late-Stage funding rounds raised $1.2 billion, while early stage raised $362 million, and seed stage garnered $147 million, and the data reflected a mix of domestic and international institutional conviction across all funding levels.

Enterprise infrastructure commanded $869.1 million in Q1 2026 up from $6.24 lakh in Q4 2025. Environment Tech took second place in rankings with $434 million, followed by the enterprise applications sector.

Collectively, these three sectors absorbed over $1.5 billion of the quarter's total of $1.7 billion, signalling a decisive shift in where large-scale capital conviction is being placed.

Data centre providers led the business models with $710M from a single round, followed by advanced solar energy generation at $344 million and marketing optimisation at $150 million.

B2C grocery ecommerce, electric vehicles manufacturers, and EV charging solutions also featured in the top ten, but with significantly smaller capital allocations - $40.4 million, $49 million, and $27.8 million respectively.

The capital city’s funding preferences align with infrastructure durability over consumer velocity, the report said, analysing the trend.

Delhi NCR recorded 9 acquisitions in Q1 2026 - matching Q1 2025's count - while the IPO market delivered only a single listing.

Gurugram led the regional funding landscape with 52 per cent of total capital in Q1 2026, followed by Noida at 27 per cent and Delhi at 20 per cent - with the three cities collectively accounting for 99 per cent of all funding across the ecosystem.

—AHN

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