India startups raise $3.9 billion in VC funding during first five months of 2024
India witnessed the announcement of a total of 483 venture capital (VC) deals during the first five months of 2024, while the total disclosed funding value of these deals stood at $3.9 billion. This represents year-on-year (YoY) growth of 1.7% in terms of VC deals volume and 15.6% in terms of total funding value during January-May 2024, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that a total of 475 VC deals with a total disclosed funding value of $3.4 billion were announced in India during January-May 2023.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “With a double-digit YoY growth in VC funding value and some growth in deal volume, India’s startup ecosystem seems to be gaining investor confidence after a period of slowdown.
“Interestingly, the top two APAC markets, China and India have seen significant growth in VC funding value during the first five months of 2024. It could be an early indication that the old glory days are back for the APAC region. However, we will have to keep an eye on developments for some more months to see how the VC funding landscape unfolds.”
India is also a key global market for VC funding activity and stood among the top five markets in the world in terms of both VC deals volume and value during January-May 2024. It accounted for 7% share of the total number of VC deals announced globally during the first five months of 2024 while its share of the corresponding disclosed funding value stood at 3.7%.
Some of the notable VC funding deals announced in India during January-May 2024 included $300 million worth of funding secured by Meesho, $216 million capital raising by PharmEasy, $150 million worth of funding secured by Radiance, $103 million capital raising by Pocket FM, $100 million secured by Sedemac Mechatronics, and $100 million capital raising by Shadowfax.
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.
