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India's startups raise $1.03 billion in July 2024 acro

deepnewzdeepnewz · 1m
India's startups raise $1.03 billion in July 2024 acro

In July 2024, Indian startups raised $1.03 billion in funding across 126 deals, contributing to the overall growth of India's startup ecosystem. Since 2014, there have been over 117,000 startups established in India, including 11 unicorns. This growth can be attributed to the Startup India initiative, which was launched in 2016 to promote innovation. Despite global economic challenges, Indian startups have shown resilience. Notable investments in July included Purplle and Rapido. In comparison, the U.S. financial services sector raised $9.7 billion in Q2 2024, with a 17% increase in comparison to the previous quarter. Seed-stage startup valuations in the U.S. reached a median pre-money valuation of $14.9 million, but deal volume declined by 30% since Q1 2022. The average time between funding rounds for startups also increased to 19 months in Q2 2024, compared to the peak of 15 months during the venture capital funding boom.

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