Enterprise capital (VC) funding in Indian startups reportedly declined by 11 per cent to $1.10 billion in October, in comparison with $1.245 billion raised in the identical year-ago interval.
Sequentially, the autumn was even greater at 20 per cent in comparison with September 2024.
The entire VC funding for the ten months of 2024, nonetheless, posted an over 8 per cent rise to achieve $11.7 billion, overtaking the $10.8 billion recorded in your entire 2023, in accordance with a report by Your Story (YS).
The report mentioned fundraising in India continued to remain at billion-dollar ranges in October, a development persevering with for the final six consecutive months beginning Could this yr.
Moreover the quantum of cash raised, October has additionally seen a slowdown when it comes to the variety of offers, registering solely 103 offers within the month, in comparison with 117 in September 2024.
When it comes to sectors, fintech raised probably the most funds, adopted by edtech and e-commerce.
Mumbai emerged because the main vacation spot for VC funding in October at $336 million, adopted by Bengaluru and Chennai.
Surprisingly, Delhi-NCR, which is usually within the high three, simply raised $93 million final month.
Eruditus, Samunnati, and Finova Capital have been among the many startups which raised funds within the vary of $100 million and above, whereas upGrad and Purplle secured funds throughout the $50 million-$100 million vary.
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