August 29, 2024: Indian startups have raised a substantial $6.3 billion through 672 venture capital (VC) deals between January and July 2024, marking a striking 43% year-on-year increase in funding, according to the latest data from GlobalData.
This impressive growth stands out against a backdrop of global investment caution, which saw only a modest 1.2% increase in deal volume globally. The surge in funding highlights India’s growing prominence in the global venture capital landscape, even as international investors tread carefully.
In comparison, during the same period in 2023, Indian startups secured $4.4 billion through 664 VC deals, showcasing the scale of this year’s leap in investment.
Indian Startups Prominent VC Investment in H1 2024 : Global Data Report
Prominent deals this year include significant rounds for quick commerce platform Zepto, which raised $665 million, e-commerce player Meesho with $300 million, and online pharmacy PharmEasy, securing $216 million.
Aurojyoti Bose, lead analyst at GlobalData, attributed the increased funding value to a rise in big-ticket deals, highlighting that despite cautious investment sentiments, substantial capital is available for high-potential startups.
India’s share of the global VC market in the first half of 2024 was remarkable, accounting for 7% of total deals and 4.3% of the disclosed funding value. This positions India as a significant player in the Asia-Pacific region and one of the top five markets worldwide for VC deal volume and value.
“India’s position as a pivotal market for venture capital is reaffirmed by its strong pipeline of promising startups, which continue to attract substantial investment despite global economic uncertainties,” Bose said.
This trend underscores India’s resilience and growing influence in the global venture ecosystem, demonstrating its ability to thrive amid global investment challenges.
