Chennai: Funding in the startup ecosystem recovered to $14.44 billion in 2024 from $11.3 billion in the previous year. Startups also saw record high IPOs and 144 acquisitions in 2024.
Indian startups raised a total of $14.44 billion across 1,337 deals in 2024 against $11.3 billion in 2023. However, it remains below the $25 billion raised in 2022 and $38 billion in 2021.
In 2024, startups saw the lowest funding of $719.42 million in January and highest of $1.92 billion in June. After a dip in July, funding rebounded in August and September with over $1.5 billion. The year ended strong with $1.32 billion in December, as per the data of TheKredible.
E-commerce sector led with 222 deals and $3.51 billion, which represents 24.34% of the total funding. Fintech followed with 211 deals and $3.23 billion, representing 22.37% of the total. Health tech secured 120 deals and $1.14 billion, while SaaS raised $837.41 million through 112 deals. AI recorded 59 deals with $429.66 million, and the EV sector raised $616.78 million across 48 deals. Edtech saw 46 deals totalling $670.36 million, and agri-tech completed the list with 40 deals and $230.6 million.
Zepto topped with $1.35 billion, followed by Flipkart at $350 million. In health tech, Pharmeasy saw funding of $216 million, Engrail $157 million, and NephroPlus $102 million. In e-commerce, Lenskart secured $200 million, while Atlan raised $105 million in AI and SEDEMAC $100 million in auto parts.
Bengaluru topped with 485 deals and over $5.06 billion raised, accounting for 35.08 per cent of the total funding. Delhi-NCR secured the second spot with 332 deals and $3.12 billion. Mumbai followed with 231 deals and $3.76 billion. Hyderabad saw 56 deals and $421.5 million, Pune had 47 deals and $645.63 million, while Chennai closed the list with 46 deals and $504.15 million.
In 2024, 144 acquisitions took place in total. The top deals included OYO acquiring G6 Hospitality for $525 million. Zomato acquired Paytm’s movies and ticketing business for $244 million. Freshworks purchased Device42 for $230 million while NIIF took a majority stake in iBUS for $200 million.
