Tech startups in India: Indian companies raised $4.1 billion in funding in the first half of 2024, and the country remains the fourth most funded country in the world

Bangalore, June 20: A report released on Thursday showed that Indian tech startups raised $4.1 billion in the first half (January-June so far), up 4% from $3.96 billion in the second half 2023, as three Unicorn companies emerged alongside 17 other companies. . business. Initial public offering during this period.

India remains the fourth country in the world that funds technology startups. The United States leads in total financing volume, followed by the United Kingdom and China, according to Tracxn, a leading business information platform. April was the highest monthly funding period ($862 million) in the first half of 2024. BharatPe partners with Invest India to promote digital financial inclusion and financial literacy through the ODOP initiative.

Bengaluru tops the list in terms of total funds raised, followed by Mumbai and Hyderabad. The report indicates that the retail, enterprise applications and fintech sectors are among the best performing sectors in the first half of 2024 in this area. “Despite four consecutive half-year funding declines since the first half of 2022, we are now showing signs of stabilization and improvement.

“India’s strong performance as the fourth most funded country in the tech startup ecosystem is encouraging,” said Neha Singh, co-founder, Tracxn. Initial funding increased to $455 million, an increase of 6.5% from the second half of 2023.

Early-stage startups maintained a stable funding amount of $1.3 billion, in line with the second half of 2023. Late-stage funding increased to $2.4 billion, an increase of 3.8%. compared to the second half of 2023. H1 2024 Eight financing rounds on US$100 million. Like Flipkart’s $350 million funding round led by Google; Apollo 24|7's $297 million funding round and Meesho's $275 million funding round. Binance returns to India: The leading blockchain and cryptocurrency platform pays a fine of Rs 18.82 Crore to restart its operations in the country.

Logistics company Porter is the third unicorn of the first half, following AI startup Krutrim and B2B SaaS company Perfios. Several large companies that have gone public are TBO, TGIF Agribusiness, Radiowalla and Trust Fintech.

(The above story first appeared on LastLY on Jun 20, 2024 2:35 PM IST. For more news and updates on politics, world, sports, entertainment & lifestyle , log in to our website

Jordan Carlson

"Zombie geek. Beer trailblazer. Avid bacon advocate. Extreme introvert. Unapologetic food evangelist. Internet lover. Twitter nerd."

Leave a Reply

Your email address will not be published. Required fields are marked *