Indian startups have raised nearly Rs 1.2 billion across 119 deals in October 2024, signaling a positive shift in the funding environment as the industry emerges from the “funding winter.” According to data from The Kredible, this marks a significant milestone for the startup ecosystem, despite the funding being subdued both on a year-on-year and sequential basis.
Although the total funding in October was lower compared to previous months, the figures highlight an ongoing recovery. The funding in October saw a 25% decline from the Rs 1.62 billion raised in September 2024. On a yearly basis, the funding also experienced a 13% dip compared to Rs 1.38 billion raised in October 2023.
However, the overall trend in 2024 remains positive. The total funding raised by Indian startups during the first 10 months of the year has already surpassed Rs 12.2 billion, outpacing the Rs 11 billion raised in the same period of 2023. This indicates that despite the recent dip in October, the broader momentum in funding continues to grow, signaling a strong rebound for the startup ecosystem.
The numbers suggest that while Indian startups may still be navigating through some uncertainties, investor confidence is gradually returning, and the outlook for the remainder of 2024 remains optimistic. With several startups in key sectors such as technology, e-commerce, and fintech continuing to attract funding, India’s startup ecosystem is well on track to see further growth and innovation.
Experts believe that the funding environment will continue to improve as more global investors look towards India’s booming tech sector, positioning the country as a leader in the global startup ecosystem.
