After several quarters of funding winter, Indian start-ups have witnessed a growth in funding in January-April in 2024. According to data and analytics firm GlobalData, start-ups in the country raised $3.1 billion in venture capital funding during the four months, showing a growth of 1.1 per cent over the aggregate funds raised in the same period last year.

During January-April 2023, start-ups raised funds to the tune of $2.8 billion. “The Indian funding winter seems to be waning as the country witnessed year-on-year (y-o-y) improvement in venture capital (VC) funding deals volume and value during the period,” it said.

A total of 375 VC funding deals were announced during the period, which fetched $3.1 billion.

“There is an increase of 13.8 per cent in the number of deals when compared to the number of deals (371) registered during the corresponding period last year,” it said.

“When several of its peer countries were witnessing a fall in either VC deals volume or value and some countries were also experiencing a decline in both, India emerged as a notable exception to register improvement in terms of volume as well as value,” Aurojyoti Bose, Lead Analyst at GlobalData, said.

India has emerged as top-five markets globally as far as VC investments are concerned both in terms of VC funding deals volume and value.

“India accounted for 6.9 per cent of the total number of VC funding deals announced globally during January-April 2024 while its share in terms of value stood at 4.1 per cent,” he said.

Some of the key deals announced during January-April 2024 included $300 million worth funding raised by Meesho; $216 million in capital raised by PharmEasy; $103 million funding raised by Pocket FM; and $100 million funding secured by Shadowfax.

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