Tech Companies Raise $4.1 Billion In First Half Of 2024

Tech Companies Raise $4.1 Billion In First Half Of 2024

According to a report released on Thursday, Indian tech companies raised $4.1 billion in the first half of this year (January to June), a 4% rise from $3.96 billion in the second half of 2023, as the country saw three unicorns and 17 IPOs during this time period.

In the global tech startup environment, India remains the fourth most funded country. According to Tracxn, a major market intelligence platform, the United States led in overall funding quantities, with the United Kingdom and China following suit.

The month of April received the most monthly funding ($862 million) in the first half of 2024.

Bengaluru led the way in terms of total funding raised, followed by Mumbai and Hyderabad.

Retail, enterprise apps, and fintech were the top-performing industries in H1 2024, according to the research.

“Despite four successive half-year periods of decreased funding since H1 2022, we are finally exhibiting signs of stabilization and an increasing trend. “India’s strong performance as the fourth-highest funded country in the tech startup ecosystem is encouraging,” stated Neha Singh, Co-Founder of Tracxn.

Seed-stage funding grew to $455 million, up 6.5% from H2 2023. Early-stage firms received constant investment of $1.3 billion in H2 2023.
Late-stage funding increased to $2.4 billion, up 3.8% from H2 2023.

The first half of 2024 saw eight fundraising rounds above $100 million, including Flipkart’s $350 million round led by Google, Apollo 24|7’s $297 million round, and Meesho’s $275 million round.

Porter, the logistics company, was the third unicorn in the first half of the year, following AI startup Krutrim and B2B SaaS company Perfio.

TBO, TGIF Agribusiness, Radiowalla, and Trust Fintech were among the top companies to go public.