New Delhi, May 8 -- Funding for Indian fashion startups has sharply declined-from $611 million across 111 rounds in 2023 to just $55.9 million across 36 rounds in 2025, according to Tracxn data. Yet, despite dwindling investment, startups like Slikk and Accel-backed NEWME are doubling down on a risky, high-speed gamble: that consumers will pay for fashion delivered in under an hour.

Slikk has secured $3.2 million in seed funding from Lightspeed Ventures to scale its 60-minute delivery model, while NEWME, which raised $18 million in its series A round, plans to offer 30-60 minute deliveries in Bengaluru and other metros.

"We will be ready to offer between 30-minute to 60-minute delivery in a lot of metro cities in a couple of months and ...