New Delhi, Dec 28 (IANS) The Indian startup ecosystem received a funding booster this year with raising more than $12 billion, a 20 per cent jump from last year’s $10 billion.
While late-stage funding surged 25 per cent to more than $7 billion in 2024, growth-stage startups secured $3.5 billion in 282 deals, according to ‘Annual Funding Report 2024’ by startup coverage portal Inc42.
According to the report, early-stage startups were the biggest beneficiaries this year. Early-stage startups cumulatively raised $893 million, which was up 31 per cent (year-on-year) in 433 deals.
The fintech sector raised $2.5 billion across 162 deals, while enterprise tech and consumer services sectors secured $1.8 billion each.
In the second half (H2) of 2024, the tech startups received $5.32 billion across 540 funding rounds, a growth of 8 per cent from H2 2023 where $4.92 billion was raised across 890 rounds, according to Tracxn data.
India’s tech ecosystem witnessed the emergence of six unicorns in 2024, marking a 200 per cent increase compared to 2 unicorns in 2023.
Quick commerce platform Zepto alone raised around $1.3 billion in 2024 in three rounds.
This year, 13 new-age companies launched their initial public offerings (IPOs), as startups cumulatively raised more than Rs 29,200 crore from the stock market. When it comes to IPOs, the figure stood at 10 in 2021, six in 2022 and six in 2023.
The startup IPOs include TAC Security, Unicommerce, MobiKwik, TBO Tek, Ixigo, Trust Fintech, FirstCry, Menhood, Awfis, Swiggy, Digit Insurance, Blackbuck and Ola Electric.
The largest IPO among startup companies was offered by online food delivery platform Swiggy at Rs 11,327.43 crore. Swiggy’s shares were listed in the stock market at a price of Rs 420 with a premium of 7.69 per cent.
At least 157,066 startups have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) to date and 759,303 users are registered on the portal (as on December 25).
The country now has more than 73,000 startups with at least one-woman director that have been recognised under the ‘Startup India Initiative’, according to latest government data.
—IANS
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