Funding winter is past; Indian startups raised over USD 3 billion in venture funding in 2024: Report
May 31, 2024
New Delhi [India], May 31 : Funding winter in India seems to be waning as the country witnessed an improvement in venture capital funding deals, both in volume and value, in 2024.
Venture capital is typically a type of private equity financing that provides funding and support to early-stage businesses that have the potential for rapid growth.
A report by GlobalData, a data and analytics company, said that a total of 375 venture capital funding deals were announced in the first four months of 2024.
The disclosed value of these deals stood at USD 3.1 billion, the report asserted.
This was a year-on-year growth of 1.1 per cent and 13.8 per cent in terms of deal volume and value, respectively, according to GlobalData.
India accounted for 6.9 per cent of the total number of venture capital funding deals announced globally during January-April 2024 while its share in terms of value stood at 4.1 per cent.
As per the report from the analytics company, some of the notable funding deals in India during January-April 2024 included USD 300 million worth of funding raised by Meesho, USD 216 million in capital raised by PharmEasy, USD 103 million funding raised by Pocket FM, and USD 100 million capital secured by Shadowfax.
Aurojyoti Bose, Lead Analyst at GlobalData, said: "When several of its peer countries were witnessing a fall in either VC deals volume or value, and some countries were also experiencing a decline in both, India emerged as a notable exception to register improvement in terms of volume as well as value."
Bose said India apart from being a key Asia Pacific country, standing just next to China in venture capital funding activity, is also among the top five markets globally.
The data and information mentioned in the report were sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team.
