Indian Startups Attract $9.2 Billion in VC Investments from January to October: Report
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New Delhi, Nov 29 (NationPress) Approximately 984 venture capital (VC) funding deals were reported in India from January to October 2024, with the total disclosed funding amount soaring by 44.4 percent year-on-year to $9.2 billion for that period, according to a report published on Friday.
The analysis from GlobalData, a data and analytics firm, indicated a year-on-year (YoY) growth of 5.8 percent in deal volume.
In the same timeframe in 2023, there were 930 VC deals recorded in India, with the total disclosed funding for these deals estimated at $6.4 billion, the report highlighted.
“Investor confidence appears to be recovering as India shows substantial enhancement in VC funding activities throughout the year compared to its peer nations. Indeed, it was one of the few major markets that experienced growth in both deal volume and value from January to October 2024,” remarked Aurojyoti Bose, Lead Analyst at GlobalData.
“Additionally, India continues to rank among the top five markets worldwide for VC funding activities in both deal volume and value,” Bose noted.
The report also revealed that India comprised 7.1 percent of the total number of VC deals reported globally during this period. In contrast, its share in terms of the total disclosed funding value was 4.2 percent.
Prominent venture capital funding transactions in India from January to October include Zepto's $665 million raised in June, followed by an extra $340 million in August.
Other notable funding rounds consist of Meesho acquiring $300 million, PharmEasy raising $216 million, PhysicsWallah securing $210 million, and Purplle raising $178.4 million.
“With robust funding rounds and a significant rise in activity, India is well-equipped to uphold its status as a premier global destination for venture capital, reflecting the nation’s vibrant entrepreneurial ecosystem and potential for enduring growth,” Bose stated.
