Tech Startups: Indian tech startups raised $4.1 billion within the first half of this 12 months (from January to June), which is 4 % greater than $3.96 billion within the second half of 2023. This has been revealed in a report launched on Thursday. Throughout this era, three unicorns have been additionally seen within the nation together with 17 IPOs. When it comes to tech startups, India stays the fourth most funded nation on the earth. In line with Tracxn, the primary nation to get essentially the most funding on this group is the US. After that comes the UK and China. After which India is at quantity 4.
Within the first half of 2024, the best month-to-month funding was within the month of April, which was $862 million. On the identical time, Bangalore is primary when it comes to elevating essentially the most funds by way of this funding, adopted by Mumbai and Hyderabad. The report talked about that the highest performing sectors within the first half of 2024 included retail, enterprise purposes and fintech. Neha Singh, Co-founder, Tracxn mentioned, “Regardless of a decline in funding for 4 consecutive half-years because the first half of 2022, we at the moment are seeing indicators of a stabilisation and upward development. India’s sturdy efficiency because the fourth most funded nation in tech startups is encouraging.” Early-stage funding for startups grew 6.5 per cent to $455 million from the second half of 2023. New startups maintained a steady funding quantity of $1.3 billion, the identical because the second half of 2023. Late-stage funding grew to $2.4 billion, up 3.8 per cent from the second half of 2023. The primary half of 2024 noticed eight funding rounds of over $100 million, akin to Flipkart’s $350 million spherical led by Google, Apollo 24×7’s $297 million funding spherical, and Meesho’s $275 million funding spherical. Logistics firm Porter was the third unicorn within the first half of this 12 months, after AI startup Krutrim and B2B SaaS firm Perfeos.
