Startup

VC Funding for Indian Startups Declines 43% in January

Venture capital (VC) funding for Indian businesses fell by 43% in January 2024, totaling $646 million, indicating a cautious start to the year. This amount is a substantial decrease from the $1.1 billion raised in January of the prior year. Even with the decline, the money is still significant given the continuous difficulties the startup sector faces.

When comparing on a quarterly basis, venture capital funding dropped by 21% in January 2023 compared to December 2023, when the total was $820 million. In January 2024, there were low expectations due to the backdrop of 2023, which saw a 53% reduction in total funding to $10.8 billion compared to 2022.

There were 98 deals in January, the majority of which were for early-stage fundraising, indicating that investors are still hesitant to write big checks. There were only seven transactions worth more than $20 million, the largest of which was $75 million that Vivifi Finance secured.

A bright spot surfaced in the midst of the general downturn: a new unicorn entered the Indian startup scene. In late January, Bhavish Aggarwal’s Artificial Intelligence (AI) business, Krutrim SI Designs, reached a $1 billion valuation. This demonstrates an increasing pattern of increased investor interest in AI-related firms.

Even though AI attracted more attention, the financial industry led the January VC funding charts, with software-as-a-service (SaaS) and AI following closely behind.

Komal Patil

Recent Posts

A Country Star on the Rise: Todd Barrow Blazes a New Trail with “Ain’t Lookin’ Back Now”

Todd Barrow is rapidly carving out his place in the country music spotlight. Born and… Read More

14 hours ago

Tranquil Arc by Blue Valley Properties: Redefining Premium Living in North Bangalore

Bangalore, often dubbed the Silicon Valley of India, is a city that seamlessly blends technological… Read More

2 days ago

Instagram Launches ‘Blend’ Feature to Share Personalized Reels with Friends: What It Is, How to Use and Activate New Feature

Instagram's latest update includes a new feature called "Blend." With the use of this feature,… Read More

2 days ago

Rema Vassar and the Mission of Centering Black Children in Education (CBCE)

Dr. Rema Vassar is a leading advocate for equity in education, particularly in ensuring that… Read More

3 days ago

William Alvarez Rhode Island Explores Different Guitar Styles: Rock, Jazz, Blues, and More

Exploring the world of guitar music is a journey into the heart of creativity, where… Read More

4 days ago

Cody Fortier: Challenges and Innovations in Marine Construction

Marine construction is a vital field that shapes coastal infrastructure, energy production, and global connectivity.… Read More

4 days ago