New Delhi [India], September 25 (ANI): The Indian startup funding surged by 53.1 per cent in the first eight months of 2024 as compared to the previous year, as per a research report by GlobalData.

The report revealed that from January to August this year, the Indian startups have raised USD 7.5 billion through venture capital funding, which was USD 4.9 billion last year during the same period.

The report also noted that, in 2024 the VC deals were of bigger value than the previous year. A total of 780 venture capital deals were done between January to August 2024 and it has brought in USD 7.5 billion as compared to 742 deals in the same period last year with USD 4.9 billion.

"A total of 780 venture capital (VC) deals with disclosed funding value worth USD 7.5 billion were announced in India during January to August 2024, marking a year-on-year (YoY) improvement of 5.1 per cent in terms of volume and a significant 53.1 per cent increase in funding value compared to the same period in previous year," said the report.

The report also mentioned India's position as the top destination for venture capital investment in the Asia-Pacific (APAC) region, second only to China.

It further reinforces the country's global significance in the VC market. During the period (Jan-August) as per the report, India ranked among the top five global markets for venture capital funding in terms of both deal volume and value.

"The marked increase in venture funding value highlights the burgeoning investor confidence in India's startup ecosystem. India's performance signals a promising landscape in the VC funding market," said Aurojyoti Bose, Lead Analyst at GlobalData.

Highlighting the India's venture capital funding in 2024, the report added that the country accounted for 7.3 per cent of the total number of VC deals globally from January to August 2024, while its share of the total funding value stood at 4.6 per cent. The country also saw an increase in high-value VC deals, defined as those worth USD 100 million or more.

As per the research report, some of the notable funding rounds during this period include Zepto, which raised USD 665 million and USD 340 million in two separate rounds, Meesho securing USD 300 million, PharmEasy raising USD 216 million, OYO attracting USD 173.5 million, and Radiance receiving USD 150 million in VC funding.