Indian Startup Funding Soars by 53.1% in First Eight Months of 2024

Indian startups have shown significant growth in the first eight months of 2024, raising USD 7.5 billion through venture capital funding. This marks a 53.1% increase compared to the same period last year. India also maintained its position as a leading destination for VC investments in the Asia-Pacific region.

Indian startup funding has surged by 53.1% in the first eight months of 2024 compared to the previous year, according to a report by GlobalData. The period from January to August saw startups raising USD 7.5 billion through venture capital, up from USD 4.9 billion during the same period last year.

The report noted that, in 2024, the value of VC deals was notably higher. A total of 780 venture capital deals were completed between January and August 2024, bringing in USD 7.5 billion, compared to 742 deals worth USD 4.9 billion in the same period the previous year. This marks a year-on-year (YoY) improvement of 5.1% in deal volume and a significant 53.1% increase in funding value.

India has positioned itself as the top destination for venture capital investment in the Asia-Pacific region, second only to China, highlighting its global significance in the VC market. During the January-August period, India ranked among the top five global markets for venture capital funding in both deal volume and value. Notable funding rounds included Zepto raising USD 665 million and USD 340 million in two separate rounds, Meesho securing USD 300 million, PharmEasy raising USD 216 million, OYO attracting USD 173.5 million, and Radiance receiving USD 150 million in VC funding.

(With inputs from agencies.)