Tech startups raised $4.1 billion in the first half of 2024, India remains the world’s fourth largest source of funding

Bengaluru, June 20, 2024
Indian tech startups raised $4.1 billion in the first half of this year (January to June to date), up 4% from $3.96 billion in the second half of 2023, Thursday’s report showed. IPO during this period.

India remains the world’s fourth most funded country in the tech startup landscape. According to Tracxn, a leading market intelligence platform, the United States leads in terms of overall financing volume, followed by the United Kingdom and China.

April saw the highest monthly funding ($862 million) in the first half of 2024.

Bengaluru leads in terms of total funds raised, followed by Mumbai and Hyderabad.

As mentioned in the report, retail, enterprise applications and fintech were the best-performing sectors in this space in H1 2024.

“Despite four consecutive six-month periods of funding declines since the first half of 2022, we are now showing signs of stabilization and growth. India’s solid performance as the fourth most funded country in the tech startup ecosystem is encouraging,” said Neha Singh, co-founder of Tracxn.

Seed-stage funding increased to $455 million, an increase of 6.5% compared to the second half of 2023. Early-stage startups remained stable at $1.3 billion in funding, representing the second half of 2023.

Late-stage financing increased to $2.4 billion, an increase of 3.8% compared to the second half of 2023.

There were eight financing rounds above $100 million in the first half of 2024, such as Flipkart’s $350 million round led by Google; Apollo 24|7’s $297 million funding round and Meesho’s $275 million funding round.

Logistics company Porter was the third unicorn in the first half of this year, after AI startup Krutrim and B2B SaaS company Perfios.

The most important companies that went public included TBO, TGIF Agribusiness, Radiowalla and Trust Fintech. (Agency)