Indian technology startup scene in 2024: More unicorns, more exits

India's technology startup ecosystem got six new unicorns in 2024: There were two last year. The new unicorns – startups reaching $1 billion valuation – specialise in lending, logistics, software and generative intelligence. Technology startups raised $11.3 billion, a six per cent increase from $10.7 billion raised in 2023. Internationally, there were 86 technology unicorns this year. It took 7.3 years on average for Indian firms to earn the unicorn tag from Series-A round, compared to 4.2 years in 2023. It took 9.2 funding rounds to become a unicorn in 2024, compared to 4.5 last year, according to Tracxn. As many as 113 startups were acquired in 2024 and 140 last year. Innoven capital saw a record 10 exits followed by Peak XV Partners and 360 One at eight each.