The Indian startup ecosystem reached unprecedented milestones in 2024, raising over $12 billion across 993 funding deals. This year also saw a 93% surge in funding for women-led startups, six new unicorns, and Bengaluru maintaining its position as the most funded startup hub. With late-stage investments dominating the landscape, sectors like consumer services, health tech, edtech, travel tech, fintech, and enterprise tech showcased India’s growing influence as a global innovation hub.
Zepto
Zepto led the funding race with a remarkable $665 million in a late-stage round backed by Nexus Venture Partners and Glade Brook Capital Partners. Additionally, Zepto secured two more rounds of $350 million and $340 million, solidifying its position as a leader in the quick-commerce space.
PharmEasy
PharmEasy raised $216 million in late-stage funding, supported by Temasek Holdings, Naspers, and Prosus Ventures. The growing demand for digital healthcare solutions post-pandemic has made the health-tech sector a key focus for investors.
Physics Wallah
Physics Wallah secured $210 million in growth-stage funding from Hornbill Capital Advisors and Westbridge Capital. Known for its affordable and innovative education platforms, it continues to dominate the edtech landscape.
Rebel Foods
Rebel Foods, a pioneer in cloud kitchens, matched Physics Wallah’s funding with $210 million. Backed by Temasek and Evolvence, the investment reflects the increasing popularity of digital-first food services.
iBus
iBus raised $200 million in a late-stage round led by the International Finance Corporation. This funding highlights the potential for scaling enterprise tech solutions in India.
Rapido
Rapido secured $200 million from Westbridge Capital and Nexus Venture Partners. This funding showcases renewed confidence in the mobility and travel tech space.
OYO
OYO raised $175 million in late-stage funding, supported by Patient Capital, J&A Partners, and Ask Group. This marks a significant milestone in the revival of the travel sector post-pandemic.
Eruditus
Eruditus raised $150 million in late-stage funding from The Rise Fund, SoftBank, and Accel. As a leader in executive education, it continues to revolutionise learning on a global scale.
Finova Capital
Finova Capital raised $135 million from Avataar Venture Partners and Sofina. The fintech startup is focused on expanding access to credit for underserved businesses, showcasing the sector’s growth potential.
Whatfix
Whatfix secured $125 million in funding from SoftBank and Warburg Pincus. Its platform, designed to improve onboarding and employee training, has garnered significant traction worldwide.
Way forward
These funding successes depict the resilience and innovation of Indian startups. Late-stage investments have become pivotal in scaling solutions across sectors, propelling the ecosystem to global prominence. With strong investor backing, 2024 will be remembered as a transformative year for Indian startups, driving economic growth and technological advancement.
