In the first quarter of 2024, India’s start-up ecosystem experienced a significant slowdown in funding, with total investments amounting to $1.6 billion, marking a 29% decrease compared to the same period last year when $2.24 billion was raised. Late-stage funding took the hardest hit, dropping by over 46% to $0.67 billion in Q1 2024 from $1.25 billion in Q4 2023 and by 48% compared to $1.3 billion in Q1 2023. Despite this decline, early-stage funding saw a 28% increase. Notable recipients of funding included Shadowfax and Credit Saison, each securing over $100 million, along with Capillary, Rentomojo, and Captain Fresh.The quarter also saw the birth of two new unicornsāPerfios and Ola Krutrimāand a surge in IPO numbers, with eight tech companies going public, compared to just two in the same period last year.
Start-up Funding Drops 29% to $1.6 Billion in Q1CY24, Bengaluru Leads in Total Funds Raised
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