VC funding rises 44% to $9.2 billion in the first 10 months of 2024

Country continues to rank among top five markets globally for VC funding activity: Report

Indian startups secured $9.2 billion in venture capital (VC) funding in 984 deals between January and October 2024, marking a 44.4 per cent increase in funding value from the year before, according to data analytics firm GlobalData.

 

Deal volumes rose 5.8 per cent during the same period, indicating a renewed investor confidence in the market. The same period in 2023 saw 930 VC deals worth $6.4 billion.

 

“Investor confidence seems to be reviving as India demonstrates significant improvement in VC funding activity during the year compared to peer countries. In fact, it was among the few key markets that witnessed the improvement in both deal volume and value during January-October 2024,” said Aurojyoti Bose, lead analyst at GlobalData. “India continues to remain among the top five markets globally for VC funding activity in terms of deal volume as well as value." 

 

India accounted for 7.1 per cent of global VC deal volumes and 4.2 per cent of disclosed funding value in the first 10 months of 2024. Notable funding rounds included Zepto's $665 million in June, followed by an additional $340 million in August; Meesho's $300 million, PharmEasy's $216 million, PhysicsWallah's $210 million and Purplle's $178.4 million.

 

The number of high-value deals announced (above $100 million) rose to 16 from 11 during the same period last year, marking a 45 per cent increase.

 

“With strong funding rounds and a notable increase in activity, India is well-positioned to maintain its status as one of the top global destinations for venture capital, reflecting the country’s dynamic entrepreneurial ecosystem and potential for sustained growth," said Bose.