Hey folks, guess what? Indian tech startups are bouncing back! They raised a cool $4.1 billion in the first half of 2024, up 4% from late last year. While it’s still 13% lower than the same time last year, this uptick feels like a sign of stabilization after a bit of a slump since 2022.
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China, though, has overtaken India, raking in $6.2 billion but with fewer deals – 327 to our 540. We’ve got more new startups getting funded too! Highlights? Flipkart grabbed $350 million, and new unicorns are popping up – three this year already!
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Our retail sector is shining, pulling in $1.63 billion, while enterprise applications saw a slight dip. The real downer is fintech, which dropped to $726 million from $1.45 billion. Still, overall, it’s looking positive with Bengaluru leading the charge, followed by Delhi and Mumbai. Investors like Accel and Blume Ventures are keeping the momentum going. Exciting times ahead!
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