New Delhi, November 13 (IANS). There is improvement in raising funding by Indian startups. According to a recent report, till October this year, Indian startups have raised funding of about $10 billion. Startups had raised a total of $10.5 billion in funding last year. In such a situation, it is believed that this time the funding raised by the startup will exceed last year’s figure.
This increase in funding raised by startups indicates optimism in the startup ecosystem. Since last two years which is a long time, the startup has been facing shortage of funding. In such a situation, the new figures look positive.
According to Traxon data, the startup had secured 1,220 rounds of funding till October. There were 18 rounds worth more than $100 million. This surge in deals worth more than $100 million is a sign of relief for the sector from the funding winter.
Startups had completed 1,837 rounds in the same period last year, but raised only $8.8 billion as investors focused more on smaller-sized deals last year. Earlier in 2021, a record breaking $42 billion was raised. However, funding dropped to a five-year low in 2023 after nearly $25 billion in 2022.
The month of June was important for startups in raising funding, in which startups raised $1.57 billion in 131 rounds. 70 percent of the total funding round was raised in the first half of 2024. There were fewer rounds in October, with only 60 deals struck and $616 million raised.
Larger deals included Zepto’s $340 million Series G round, while a $665 million Series F was raised earlier in the year.
Other major funding rounds in August and September included a $334 million Series E for DMI Finance, a $210 million Series B for Physics Wallah, and a $125 million Series E for Whatfix.
–IANS
SKT/AS
