Funding Surge: Indian Startups Experience 20% Rise to $12 Billion in 2024
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New Delhi, Dec 28 (NationPress) The Indian startup landscape has received a significant funding boost this year, accumulating over $12 billion, which marks a 20% increase compared to last year's $10 billion.
Late-stage funding saw a remarkable 25% growth, totaling more than $7 billion in 2024, while growth-stage startups attracted $3.5 billion across 282 deals, as detailed in the 'Annual Funding Report 2024' by the startup coverage platform Inc42.
The report indicates that early-stage startups emerged as the primary beneficiaries this year, collectively raising $893 million, reflecting a 31% year-on-year increase across 433 deals.
The fintech sector led the charge, securing $2.5 billion from 162 deals, while both the enterprise tech and consumer services sectors garnered $1.8 billion each.
In the latter half of 2024 (H2), tech startups raised $5.32 billion through 540 funding rounds, demonstrating an 8% increase from H2 2023, which saw $4.92 billion raised across 890 rounds, according to data from Tracxn.
India's tech sector welcomed the emergence of six unicorns in 2024, representing a 200% increase from the two unicorns recorded in 2023.
The quick commerce platform Zepto alone raised approximately $1.3 billion in 2024 through three funding rounds.
This year, a total of 13 new-age companies initiated their initial public offerings (IPOs), with startups collectively raising over Rs 29,200 crore from the stock market. In comparison, there were 10 IPOs in 2021, six in 2022, and six in 2023.
The listed startup IPOs include TAC Security, Unicommerce, MobiKwik, TBO Tek, Ixigo, Trust Fintech, FirstCry, Menhood, Awfis, Swiggy, Digit Insurance, Blackbuck, and Ola Electric.
The largest IPO among these startups was conducted by the online food delivery service Swiggy, which raised Rs 11,327.43 crore. Swiggy's shares debuted on the stock market at a price of Rs 420, with a premium of 7.69%.
To date, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized at least 157,066 startups, with 759,303 users registered on the portal as of December 25.
The nation is now home to over 73,000 startups with at least one woman director, recognized under the 'Startup India Initiative', as per the latest government statistics.
