India, Sept. 1 -- August marked another defining month for Indian startups as geopolitical pressures and regulatory shocks tested the ecosystem's resilience.

For much of the month, bearish sentiments weighed heavily on new-age tech stocks after US President Donald Trump slapped an additional 25% tariff on Indian exports to the US. Startups with strong exposure to the US market or supply chain links were hit hard.

But the biggest shock came when India's new online gaming law dismantled the real-money gaming industry overnight, wiping out billions in market value and forcing giants like Dream11 and MPL to shut down their core operations and pivot.

The public markets were no consolation either. Two highly anticipated IPOs - coworking majo...