The Indian startup ecosystem is going through a recovery phase: there have been larger funding rounds, an increase in the number of deals, a surge in secondary deals and ESOP buybacks, and a decline in layoffs.
As per data compiled by TheKredible, Indian startups raised nearly $7 billion in funding during the first half of 2024. This is more than the $5.92 billion raised in H1 2023. But it’s also far less than $20 billion in H1 2022 which now seems like the golden phase for startups, at least in terms of venture capital inflow.
The $7 billion funding consisted of 182 growth or late stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion. Meanwhile, 99 were undisclosed deals. During the first half, Indian startups produced a couple of unicorns: Perfios and Krutrim SI Designs. In 2023, only two startups managed to go past the unicorn valuation while 2022 and 2021 saw the emergence of 26 and 44 unicorns, respectively.
[Y-o-Y and M-o-M trend]
As mentioned above, there is a significant increase in the number of startup deals and funding in H1 2024 from $5.92 billion in H1 2023. If we see the last four consecutive half yearly data, H1 2024 stands at the top in terms of total amount raised. The growth can be attributed to a bunch of $100 million plus rounds and mega deals bagged by late stage firms such as Zepto, Flipkart, PharmEasy and Lenskart.
SOURCE : ENTRACKR
