Year in Review: Indian Startups Secure $12 Billion, Zomato Enters Sensex
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New Delhi, Dec 31 (NationPress) The year 2024 has been a transformative one for Indian startups, with the government removing the angel tax, a levy on investments in startups, significantly enhancing funding avenues and allowing these companies to raise over $12 billion.
Additionally, the food delivery giant Zomato successfully entered the Sensex, the benchmark index of leading firms in India.
In 2024, Indian startups surpassed the impressive milestone of securing $150 billion in funding. From 2014 to 2024, new-age tech enterprises raised more than $151 billion in total funding.
The peak funding year was 2021, where startups amassed $42 billion. This was followed by $25 billion in 2022, $10 billion in 2023, and $12 billion in 2024.
This year, Zomato has solidified its position in the Sensex, taking the spot of the 142-year-old steel manufacturer JSW Steel in the BSE (Bombay Stock Exchange) index.
In 2024, India celebrated the emergence of its first AI unicorn, Ola Krutrim, marking the third unicorn from the Ola Group. This milestone was achieved under the leadership of Bhavish Aggarwal, with the company becoming a unicorn in January.
Currently, India is home to 118 unicorns.
This year, 13 startup companies collectively raised ₹29,247.4 crore from the stock market, with ₹14,672.9 crore coming from fresh issues and ₹14,574.5 crore from an Offer for Sale (OFS).
Among these 13 IPOs, 10 were from the mainboard and three were SME IPOs.
In the previous years, 10 startups launched IPOs in 2021, six in 2022, and another six in 2023.
In 2024, Swiggy made headlines with the largest IPO among startups, totaling ₹11,327.43 crore.
Following closely were Ola Electric with ₹6,145.56 crore, FirstCry at ₹4,193.73 crore, Digit Insurance at ₹2,614.65 crore, and TBO Tech at ₹1,550.81 crore.
