Indian start-ups raised US$9.2 billion in January-October 2024, up 44.44% from the same period last year, according to data and analytics company GlobalData. In terms of volume, venture capital (VC) funding deals rose 5.8% year-on-year to 984.

There were 930 VC deals valued at US$6.4 billion announced during the same period in 2023.

“Investor confidence seems to be reviving as India demonstrates significant improvement in VC funding activity during the year compared to peer countries,” says GlobalData lead analyst Aurojyoti Bose.

“In fact, it was among the few key markets that witnessed the improvement in both deal volume and value during January-October 2024. Moreover, India continues to remain among the top five markets globally for VC funding activity in terms of deal volume as well as value.”

India accounted for 7.1% of the total number of VC deals announced globally during January-October 2024, whereas its share in terms of funding value stood at 4.2%.

Among these deals are Zepto's US$665 million deal in June, followed by an additional US$340 million in August. Meesho secured US$300 million, PharmEasy raised US$216 million, PhysicsWallah got US$210 million, and Purplle raised US$178.4 million.

“With strong funding rounds and a notable increase in activity, India is well-positioned to maintain its status as one of the top global destinations for venture capital, reflecting the country’s dynamic entrepreneurial ecosystem and potential for sustained growth,” Bose adds.