'Tech start-up funding sees rise after two years of decline'

'Tech start-up funding sees rise after two years of decline'

Market intelligence platform Tracxn reported that Indian tech start-ups raised $4.1 billion in the first half of 2024, compared to $4.8 billion in the first half of 2023. This is a decline of 13%, but an increase of 4% from $3.96 billion in the second half of 2023.

Although the US leads in overall funding, followed by the UK and China, India remains the fourth most funded country in the tech start-up landscape, Tracxn said.

“Despite a decline in funding for four consecutive half-years since H1 2022, India is now showing signs of stability,” said Neha Singh, co-founder of Tracxn.

From emerging developments in retail and enterprise applications to pioneering advancements in fintech, Indian start-ups are transforming industries and driving economic growth, Ms Singh said.

Tracxn said seed-stage funding grew to $455 million in H1 2024, a sequential increase of 6.5% from H2 2023 but down 17.3% from H1 2023. Early-stage start-ups maintained a stable funding amount of $1.3 billion, in line with H2 2023 but down 28% from H1 2023. Late-stage funding grew to $2.4 billion, reflecting a 3.8% increase from H2 2023, although it saw a marginal decline of 1.3% compared to H1 2023.

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