Nikhil Kamath has a '100' funding message for startups: Zerodha co-founder backs post urging startups to raise enough money to stay comfortable for “a year or two” as “next year could be bad”

Zerodha co-founder Nikhil Kamath has shown his support on a social media post that called for startups to raise capital immediately, replying "100" with an emoji to a warning that next year could be a difficult one for fundraising.

The post, shared on X on Thursday night by a user identified as Aravind, advised founders and companies to move quickly. "If you are a startup or a company looking to raise capital. Raise soon. This is probably the best time to do so," he wrote. He urged them to raise enough cash to stay comfortable for "a year or two", to be diligent in spending, and to park the money in liquid assets. He ended with a blunt line: "Next year could be bad."

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What did the post that Nikhil Kamath replied to say?

In a post on social media platform X, user Aravind said, "If you are a startup or a company looking to raise capital. Raise soon. This is probably the best time to do so. And get a lot of cash to keep you comfortable for a year or two. Be diligent in spending. The cash too can be invested into some liquid assets. Next year could be bad."

This post has already been viewed by over 200k users on the platform and liked by over 6,000 people on X.

Check Aravind's post and Nikhil Kamath's reaction here:

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What did Nikhil Kamath say?

Reacting to Aravind’s post, Kamath responded with a ‘100’ emoji, signalling his agreement with the warning about the fundraising environment.

India's funding scene

The broader funding market, however, presents a mixed picture. India recorded 1,134 funding rounds in the first nine months of 2026, down sharply from 1,838 during the same period last year. Despite the decline in deal volumes, total funding rose to $10.3 billion from $9.7 billion, according to Tracxn data cited by the Times of India. The numbers indicate that startups are raising capital through fewer but larger rounds.

Bengaluru emerged as a major beneficiary of this trend. CRED raised $540 million, followed by Rapido and Sarvam with $240 million and $234 million, respectively. KreditBee raised $220 million, while udaan and Emergent secured $160 million and $130 million. Rideriver, Slice, Navi and Pixxel also raised at least $100 million each during the period.

AI makes it difficult for startups

The unicorn tag is becoming harder for Indian startups to retain as investors reassess valuations amid changing market conditions. The AI boom has drawn significant foreign capital towards the US, while investors are also placing greater emphasis on fundamentals, growth efficiency and profitability, reported TOI.

Data from Tracxn showed that at least 10 Indian startups have been devalued since 2024, causing them to lose their unicorn status. A unicorn is a privately held company valued at $1 billion or more.

Private market valuations are being reset after the excesses of the 2021 funding cycle, with investors placing greater emphasis on fundamentals, sustainable growth and profitability, according to a TOI report.

At the same time, a growing share of new capital raised by investors is being directed towards AI. Accel’s new $550 million India fund, which is set to begin deploying capital from next year, has a significant focus on AI.