India’s Tech Pulse: Ecosystem Harkat & the Shifting Investment Temperament

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The Tech Panda examines the forces shaping ecosystem behaviour and investment sentiment in India.

This month, Inflection Point Ventures (IPV) announced 16 exits from 2025 with 41% IRR amid an ongoing liquidity crunch. Secret Alchemist, the Samantha Ruth Prabhu co-founded aromatherapy and clean fragrance brand, leads IPV’s exit slate with a standout 192% IRR and 4.56x MoM, followed by Aerem (60% IRR, 3.92x MoM), Qubehealth (49% IRR, 5.49x MoM), and Kazam (34% IRR, 4.21x MoM) among top performers. Exits span partial and full transactions, including strategic acquisitions of GeoiQ and AFK Gaming via sale to strategic buyers, alongside institutional co-exits with leading VC funds, demonstrating strong and broad-based buyer confidence in IPV-backed startups. 26 IPV startups recorded follow-on rounds in FY2026, delivering a blended IRR of 84.22% and 3.33x MoM across transactions.

“Our focus has always been on identifying and supporting businesses with the potential to scale and deliver strong...

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