Indian startups raise $7.5 billion in VC funding during January-August 2024, reveals GlobalData. Source: Shutterstock.com

A total of 780 venture capital (VC) deals with disclosed funding value worth $7.5bn were announced in India during January to August 2024, marking a year-on-year (YoY) improvement of 5.1% in terms of volume and a significant 53.1% increase in funding value compared to the same period in previous year, according to GlobalData, publishers of RBI.

An analysis of GlobalData’s Deals Database reveals that India witnessed announcement of a total of 742 VC deals during January-August 2023 while the total disclosed funding value of these deals stood at $4.9bn.

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Aurojyoti Bose, Lead Analyst at GlobalData, commented: “The marked increase in venture funding value highlights the burgeoning investor confidence in India’s startup ecosystem. India’s performance signals a promising landscape in the VC funding market.” 

India also saw improvement in number of high-value VC deals (valued more than or equal to $100m).

Apart from being the top VC investment destination in the Asia-Pacific (APAC) region after China, India was also among the top five markets in the world for VC funding activity both in terms of deal volume and value during the review period.

India accounted for 7.3% share of the total number of VC deals announced globally during January-August 2024 while its share of the corresponding funding value stood at 4.6%.

Some of the notable VC funding deals announced in India during January-August 2024 include $665m and $340m raised by Zepto in two separate funding rounds, $300m worth funding raised by Meesho, $216m worth funding raised by PharmEasy, $173.5m worth funding raised by OYO, and $150m worth funding raised by Radiance, among others.

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