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Startups regain lost funding ground
Business Standard
|June 21, 2024
After four consecutive half-year periods of decline in funding, H1CY24 has seen an upswing
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023.
According to the India Tech SemiAnnual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023. However, this represents a 13 per cent decrease compared to the $4.8 billion raised in H1 2023. India, which ranked as the fourth-highest-funded country globally in the tech startup landscape, slipped a position as China advanced in the pecking order in terms of raising higher funds.
China raised a total of $6.2 billion in H1 2024, becoming the third-highest funded country. In H1 2023, India had surpassed China to be the third-highest fundraising country globally.
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