TLDR:
- India’s VC funding landscape in Q1 2024 saw a slight downturn in deal volume and value compared to 2023.
- Despite the decline, there were positive indicators such as the emergence of new unicorns and significant funding deals.
India’s venture capital (VC) landscape experienced a subtle performance in the first quarter of 2024, with a marginal decline in deal volume and value compared to the same period in 2023. According to a report by GlobalData, India saw 288 VC funding deals with a disclosed funding value of $2.3 billion, marking a 2% decline in deal volume and a 3.1% decrease in funding value year-on-year.
The bright spots in Q1 2024 included a month-on-month growth in funding value and the emergence of two new unicorns, Krutrim and Perfios. Several big-ticket VC deals also took place during the quarter, such as Meesho’s $300 million fundraising and Shadowfax’s $100 million raise.
Despite the decline, India remained among the top five markets globally in terms of both VC funding deal volume and value in Q1 2024. In comparison to other major economies, India’s VC funding activity decline was relatively moderate, showcasing resilience in the face of global challenges.
Overall, India’s venture capital landscape displayed vibrancy and potential, with ongoing innovation and strategic investments positioning the country for future growth and success in the global VC funding arena.
