Indian Startups Ride 2024's Economic Waves, Eyeing Growth in AI and Tech

In 2024, the Indian startup ecosystem faced challenges with declining funding yet showed resilience by producing new unicorns and experiencing a rise in women entrepreneurs. Key growth sectors included quick commerce and tech-driven areas like AI. The government abolished the angel tax to support startup growth.


Devdiscourse News Desk | New Delhi | Updated: 31-12-2024 14:37 IST | Created: 31-12-2024 14:37 IST
Indian Startups Ride 2024's Economic Waves, Eyeing Growth in AI and Tech
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  • India

The Indian startup ecosystem experienced a dynamic year in 2024, marked by a slight downturn in funding activities and a shift in investor sentiment, despite some startups achieving unicorn status.

Despite global economic challenges, Indian startups displayed resilience, adeptly attracting investments and navigating market conditions, according to Tracxn data, which shows a 6.5% decline in funding to USD 30.4 billion compared to 2023. Notable new unicorns include Rapido and Ather.

Investor caution led to a focus on early-stage investments, while sectors like quick commerce and AI-driven technologies continued to perform well. The government abolished the angel tax, boosting investor confidence, and the rise of women entrepreneurs from non-metro areas highlighted increased inclusivity within the startup community.

(With inputs from agencies.)

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