Retail, fintech, and food and agritech emerged as the top performing sectors. The retail sector has managed to secure $1.95 billion in funding so far this year, and this is a 23% increase from 2023, but a 61% drop from 2022. Flipkart raised $350 million from Google, and Meesho raised $275 million during this period. Fintech emerged as the second most funded sector, as the sector raised $1.49 billion. However, this is a 39% drop from $2.46 billion in 2023 and a 70% drop from $4.97 billion in 2022. The food and agritech sector also saw a rise in funding as the sector saw $1.43 billion in funding, which is a 63% increase from $880 million in 2023. However, this is 48% lower than $2.75 billion in 2022.
Six start-ups have become unicorns during this period, compared to only one in 2023. IPO activity also jumped, with 29 tech companies going public, compared to 15 in the same period last year. “Despite macroeconomic challenges, India’s tech ecosystem continues to display resilience. The emergence of six new unicorns and the surge in IPOs with 29 tech companies going public reflect investor confidence in the sector. “While overall funding has slowed, late-stage investments and the growing momentum in fintech and retail show that innovation-driven growth is still thriving in India’s start-up landscape,” said Neha Singh, co-founder, Tracxn.
Comments are closed.