India's Venture Capital Funding Activity Sees Significant Revival During 2024: Report

New Delhi (Alayaran.com): In a report released on Friday, data analytics firm GlobalData revealed that venture capital funding deals in India witnessed a significant surge during the first ten months of this year. A total of 984 VC funding deals were announced, showcasing a remarkable 44.4 percent increase in disclosed funding value compared to the same period last year.

According to the report, the total disclosed funding value stands at a staggering $9.2 billion, representing a substantial year-over-year (YoY) growth of 5.8 percent in deal volume. In contrast, the total disclosed funding value during the same period in 2023 stood at $6.4 billion for 930 VC deals.

India's remarkable recovery in venture capital funding activity led the report to state that investor confidence is "reviving" as the nation continues to thrive despite global economic uncertainties. The country is now one of the top five markets globally, ranking second only to the United States, in terms of both VC deal volume and value.

With India accounting for 7.1 percent of total gloal VC deals announced during this period, its share of funding decreased slightly to 4.2 percent compared to last year. Nevertheless, with notable VC deals reaching heights, including Zepto's impressive $665 million fundraising in June and Purplle securing a sizeable amount of $178.4 million.

"Wealthy rounds of equity financing like these are driving the growth in VC funding", it was noted by lead analysts at GlobalData.