Indian Tech Startup Funding Report Q1 2024

In the first quarter of 2024, the Indian startup ecosystem witnessed the entry of two startups into the unicorn club and attracted over $2 Bn in funding. However, this amount marked a 33% decrease compared to the $3 Bn raised in Q1 2023.

Nevertheless, the growing interest from investors and consumers in AI-powered solutions hints at a potential AI bull run in the upcoming quarters of 2024. Our recent survey of Indian VCs revealed that 86% of them believe AI/GenAI is not merely hype but a lasting trend. This underscores AI as the beacon of hope for a revival in startup funding throughout 2024.

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Indian Tech Startup Funding Report Q1 2024

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights

$2 Bn+

Total Funding Raised By Indian Startups


Year-on-Year Decline In Total Funding

$3.7 Mn

Median Ticket Size Of Funding


Of Startup Investors Believe In India’s AI Potential


Investors Participated In Funding Deals


New Unicorns Added

Table Of Contents

  • India’s Digital Economy: Key Highlights
  • The State Of India’s Startup Economy
  • Indian Startup Funding Trends: An Overview
  • Indian Startup Funding Quarterly Analysis
  • Top 10 Biggest Indian Startup Funding Rounds [Q1 2024]
  • The Top Funded Indian Startup Hubs [Q1 2024]
  • Indian Startup Funding: A Stage Wise Outlook [Q1 2024]
  • Indian Startup M&A Trends
  • Top Startup Investors [Q1 2024]


Despite experiencing a significant YoY decline of 33% in total funding, Indian startups still managed to raise a total of $2 Bn. This suggests a maturing startup ecosystem, where investors are prioritising quality over quantity. The participation of over 461 investors in funding deals highlights a robust and active investor base, and the addition of 2 new unicorns further adds to the momentum. The median funding ticket size of $3.7 Mn remaining steady further indicates continued investor interest in new businesses, particularly those with strong AI potential. This sentiment is reinforced by the fact that a majority (66%) of Indian startup investors believe in the potential of AI.

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