VC Funding Deals in India Surpass $6.3 Billion Despite Global Caution: GlobalData GlobalData, a data analytics company recently released a report on VC Funding in Indian Startups reported a significant surge in funding during the January to July 2024 period, recording a total of 672 deals raising US$6.3 billion.
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GlobalData, a data analytics company recently released a report on VC Funding in Indian Startups reported a significant surge in funding during the January to July 2024 period, recording a total of 672 deals raising US$6.3 billion.
The report says that the increase represents a massive 42.1 per cent year-on-year (YoY) rise in funding value, despite the mere 1.2 per cent rise in deal volume. This highlights an increased investor confidence in India's burgeoning startup ecosystem, amidst a very cautious and volatile global market climate.
GlobalData's Deals Database also sheds light on the Indian startup economy witnessing 664 VC deals announced during the same period last year, with a value worth US$4.4 billion.
Aurojyoti Bose, Lead Analyst at GlobalData, said, "The massive jump in funding value, despite a modest 1.2% growth in deal volume, can be attributed to some of the big-ticket deals announced during the review period. This also proves that even though VC investors remain cautious there is no dearth of money for promising startups."
Among the deals made, notable ones in the period include Zepto's US $665 million deal, US$ 300 million raised by Meesho, PharmEasy's US$216 million fundraise, Radiance's US$150 million, Kogta Financial's US$148 million and a US$120 million worth fund raised by Rapido.
Bose added, "India, apart from being a key Asia-Pacific (APAC) market for VC funding activity standing just next to China, is also one of the top five markets globally in terms of both VC funding deal volume and value."
The report also stated that India accounted for a total of 7 per cent share of total VC deals around the globe during January-July 2024, with the corresponding deal value share of 4.3 per cent.
Bose explained that despite global economic uncertainties, India remains a pivotal market for VC activity, driven by a robust pipeline of promising startups that continue to attract significant capital.
"This trend reinforces India's position as a critical player in the global venture ecosystem, demonstrating resilience and growth even amid cautious investment sentiment," concluded Bose.
