Indian tech start-ups raised $4.1 billion in H1 2024 compared with $4.8 billion in H1 2023, a 13% decline, but a 4% increase from H2 2023’s $3.96 billion, noted Tracxn, a market intelligence platform.
Tracxn said although the U.S. led in overall funding volumes, followed by the U.K. and China, India remained the fourth-highest funded country in the tech start-up landscape.
“Despite four consecutive half-year periods of declining funding since H1 2022, India is now showing signs of stabilisation,” said Neha Singh, co-founder Tracxn.
Ms. Singh said emerging developments in retail and enterprise applications to pioneering advances in fintech, Indian start-ups were transformingindustries and driving economic growth.
Tracxn said H1 2024 witnessed seed-stage funding rise to $455 million, a sequential increase of 6.5% from H2 2023, but down 17.3% from H1 2023. Early-stage start-ups maintained a steady funding amount of $1.3 billion, consistent with H2 2023 but 28% lower than H1 2023. Late-stage funding rose to $2.4 billion, marking a 3.8% increase from H2 2023, although it saw a slight 1.3% drop compared with H1 2023.
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