Venture capital funding in Indian startups rose to USD6.3 billion during the January – July 2024 period, according to research by analysis company GlobalData. They say the startup ecosystem saw a significant surge in venture capital funding during the six months, with 672 deals done and the dollar amount involved representing a 42.1% year-on-year increase.
GlobalData says the spike in funding highlights investor confidence in India’s promising startups, even amid cautious global market conditions.
“The massive jump in funding value, despite a modest 1.2% growth in deal volume, can be attributed to some of the big-ticket deals announced during the review period,” said GlobalData Lead Analyst Aurojyoti Bose. “This also proves that even though venture capital investors remain cautious, there is no dearth of money for promising startups.”
Some of the notable venture funding deals announced in India during the January – July 2024 period include USD665 million worth of funding raised by Zepto; USD300 million raised by Meesho; USD216 million in funding raised by PharmEasy; USD150 million worth of funding raised by Radiance; USD148 million raised by Kogta Financial; and USD120 million in funding raised by Rapido.
India accounted for a 7% share of the total number of venture capital deals announced globally during January – July 2024, while its share of the corresponding disclosed funding value stood at 4.3%.
“India, apart from being a key Asia-Pacific market for venture funding activity, is also one of the top five markets globally in terms of both venture capital funding deal volume and value,” added Bose.
“Despite global economic uncertainties, India remains a pivotal market for VC activity, driven by a robust pipeline of promising startups that continue to attract significant capital,” he said. “This trend reinforces India’s position as a critical player in the global venture ecosystem, demonstrating resilience and growth even amid cautious investment sentiment.”
