Dec 20, 03:18 AM

Indian Startup Funding Reaches $11.3 Billion in 2024, Up 6% Despite 32% Fewer Rounds and 40+ IPOs

India's startup ecosystem in 2024 saw a modest increase in funding, reaching $11.3 billion, up from $10.7 billion in 2023, marking a 6% increase. Despite this, the number of funding rounds decreased by 32% year-over-year to 1,448, indicating a more selective investment environment. The increase in overall funding was largely driven by late-stage investments, with startups raising 136 Series C and later rounds for a total of $7.13 billion, a 12% increase in capital. However, seed-stage deals fell by 50% to 925 transactions. The public markets showed growth with over 40 startups completing IPOs, an 80% increase from the previous year. Bengaluru, Mumbai, and Gurugram were the top three funded cities, with India ranking third globally in startup funding after the US and China. Additionally, six new unicorns were born in India in 2024.