VC funding in Indian startups hits new high, totaling $8.3 bn by Q3 2024: GlobalData
India recorded 823 VC deals in Q1-Q3 2023, with a total disclosed funding value of $5.5 billion for that period.
The current trend suggests that India continues to be an appealing market for VC firms, with a noticeable shift in investor sentiment from caution to cautious optimism. (Image: Freepik)
During the period from January to September (Q1-Q3) 2024, India announced a total of 883 venture capital (VC) funding deals, with a cumulative disclosed funding value of $8.3 billion. This represents a year-on-year (YoY) increase of 7.3% in the number of deals, while the funding value experienced a substantial growth of 50.4%, as reported by GlobalData, a prominent data and analytics firm.
An examination of GlobalData’s Deals Database indicates that India recorded 823 VC deals in Q1-Q3 2023, with a total disclosed funding value of $5.5 billion for that period.
Aurojyoti Bose, Lead Analyst at GlobalData, remarked, “The difficulties faced by the Indian start-up ecosystem in securing funding during 2023 appear to be diminishing, as VC funding activities have shown consistent improvement this year. The current trend suggests that India continues to be an appealing market for VC firms, with a noticeable shift in investor sentiment from caution to cautious optimism.”
Additionally, the rise in the number of significant deals (valued at $100 million or more) further reflects the renewed optimism among VC firms regarding the Indian startup landscape. The number of such high-value VC deals rose from 10 in Q1-Q3 2023 to 15 in Q1-Q3 2024.
Among the prominent VC funding deals announced between January and August 2024 are $665 million and $340 million secured by Zepto in two distinct funding rounds, $300 million raised by Meesho, $216 million obtained by PharmEasy, $210 million garnered by PhysicsWallah, $173.5 million raised by OYO, and $150 million secured by Radiance, among others.
Bose said, “It is important to highlight that India, in addition to being a significant market in the Asia-Pacific region, ranking just behind China, is also recognized as one of the top five global investment destinations for VC firms.”
India represented 7.2% of the total number of venture capital deals announced worldwide in the first three quarters of 2024, while its share of the disclosed funding value for the same period was 4.5%.
