Indian Tech Startup Funding Report Q1 2024
Reports/Funding Report

Indian Tech Startup Funding Report Q1 2024

In the first quarter of 2024, the Indian startup ecosystem witnessed the entry of two startups into the unicorn club and attracted over $2 Bn in funding. However, this amount marked a 33% decrease compared to the $3 Bn raised in Q1 2023.

Nevertheless, the growing interest from investors and consumers in AI-powered solutions hints at a potential AI bull run in the upcoming quarters of 2024. Our recent survey of Indian VCs revealed that 86% of them believe AI/GenAI is not merely hype but a lasting trend. This underscores AI as the beacon of hope for a revival in startup funding throughout 2024.

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Indian Tech Startup Funding Report Q1 2024

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startupindia
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the economic times
live mint
the times of india

Key Highlights

$2 Bn+

Total Funding Raised By Indian Startups

33%

Year-on-Year Decline In Total Funding

$3.7 Mn

Median Ticket Size Of Funding

66%

Of Startup Investors Believe In India’s AI Potential

461+

Investors Participated In Funding Deals

2

New Unicorns Added

TOC SUMMARY

Table Of Contents

  • India’s Digital Economy: Key Highlights
  • The State Of India’s Startup Economy
  • Indian Startup Funding Trends: An Overview
  • Indian Startup Funding Quarterly Analysis
  • Top 10 Biggest Indian Startup Funding Rounds [Q1 2024]
  • The Top Funded Indian Startup Hubs [Q1 2024]
  • Indian Startup Funding: A Stage Wise Outlook [Q1 2024]
  • Indian Startup M&A Trends
  • Top Startup Investors [Q1 2024]

Summary

Despite experiencing a significant YoY decline of 33% in total funding, Indian startups still managed to raise a total of $2 Bn. This suggests a maturing startup ecosystem, where investors are prioritising quality over quantity. The participation of over 461 investors in funding deals highlights a robust and active investor base, and the addition of 2 new unicorns further adds to the momentum. The median funding ticket size of $3.7 Mn remaining steady further indicates continued investor interest in new businesses, particularly those with strong AI potential. This sentiment is reinforced by the fact that a majority (66%) of Indian startup investors believe in the potential of AI.

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