India’s startup ecosystem has secured $12.2 billion in VC funding in the first 10 months of 2024, already surpassing the total for 2023.
Key highlights include:
Over $1 billion was raised across 119 deals in October, with late-stage startups attracting $846.2 million in 28 deals, while early-stage startups received $355.38 million across 65 deals.
Eruditus, an edtech company, raised $150 million led by TPG’s The Rise Fund with support from major investors like Softbank and the Chan Zuckerberg Initiative.
Finova Capital, a fintech from Jaipur, secured $135 million in Series E funding from Avataar Venture Partners, Sofina, and Madison India Capital to expand its loan services and technology for financial inclusion.
Upgrad received an additional $60 million from Singapore’s Temasek, valuing the upskilling startup at $2.25 billion.
Startups from Bengaluru accounted for 41.84 percent of October’s funding, with 46 deals totaling $502.72 million.
The Indian government approved a Rs 1,000 crore venture capital fund to bolster India’s space sector, with an estimated yearly deployment of Rs 150-250 crore over a five-year period.
This VC funding surge highlights strong investor interest in India’s startup ecosystem, with sectors like edtech, fintech, and space technology drawing notable support.
