Nearly $7 billion raised by Indian startups in first half of 2024

Data shows that Indian startups have raised nearly $7 billion in funding during the first half (H1) of 2024. This is a rise from the $5.92 billion raised by startups in the first half of last year.

However, according to the data compiled by TheKredible, these figures remain much lower than the $20 billion raised in H1 of 2022.

According to reports by Entrackr, the $7 billion funding is spread across three types of deals. It includes 182 growth or late-stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion, while 99 other undisclosed deals are also included in the report. 

Perfios and Krutrim SI Designs are the two Indian startups that produced unicorns during this period. Last year, only two startups were able to cross the unicorn valuation while 26 and 44 unicorns emerged in 2022 and 2021 respectively. 

If we consider the month-on-month trends, the report points out that June witnessed nearly $2 billion in funding that is double of the average $1 billion monthly funding raised by startups until May of this year.

Zepto, Flipkart, PharmEasy, and Lenskart are the late-stage startups that topped with $665 million, $350 million, $216 million, and $200 million funding, respectively.

Additionally, H1 2024 also witnessed 55 mergers and acquisitions, which is lower when compared to 2023. The year 2021 had witnessed over 250 mergers and acquisitions which dropped to 204 in 2022 and was further reduced to 145 in 2023.

If we consider specific segments then e-commerce topped the list with 124 startups raising more than $1.87 billion. The other segments of the upper side of the list were Fintech, healthtech, SaaS and EV startups. Amount-wise, EV startups secured more funding than SaaS and healthtech. Agritech, foodtech, edtech and proptech saw a decline in funding during H1 2024.

With agency inputs.