In the first half (H1) of 2024, Indian entrepreneurs have raised around $7 billion in funding, which is more than the $5.92 billion they raised in the same period in 2023.
Nevertheless, TheKredible’s research indicates that the amounts in H1 2022 are still significantly less than $20 billion.
182 growth or late-stage deals totaling $5.4 billion and 404 early-stage deals totaling $1.54 billion were included in the $7 billion fundraising round. Entrackr reports that about 99 were undeclared deals.
Perfios and Krutrim SI Designs were two of the unicorns created by Indian entrepreneurs in H1. In 2022 and 2021, there were 26 and 44 unicorns, respectively, while only two firms crossed the unicorn valuation threshold last year.
In terms of month-over-month trends, the research stated that June saw investment of around $2 billion, which is more than twice as much as the average of $1 billion per month funding up to May of this year.
Zepto, Flipkart, PharmEasy, and Lenskart, four late-stage startups, topped the list with $665 million, $350 million, $216 million, and $200 million in funding, respectively.
In addition, fewer mergers and acquisitions occurred in H1 2024—55—than in H1 2023. There were more than 250 mergers and acquisitions in 2021; this number fell to 204 in 2022 and then to 145 in 2023.
E-commerce was the most successful segment, with 124 firms bringing in over $1.87 billion. The startups in the categories of fintech, healthtech, SaaS, and EV came next. In terms of money raised, EV startups outfunded SaaS and healthcare companies. Funding for edtech, proptech, foodtech, agritech, and edtech decreased in H1 2024.
