New Delhi, 3 April (IANS). India has made its place at number two by adding six unicorn compared to the top global tech startup ecosystem in 2024, with the joint assessment of the current Indian Unicorn to more than $ 220 billion. This information was given in a latest report released on Thursday.
According to a report made by NASCOM in collaboration with Jinov, Unicorn had a 33 percent stake in total funding in 2024, which was launched here during the ‘Startup Mahakumbh’ program.
In 2024, the Indian tech startup ecosystem recorded a 23 percent increase in funding, with a total tech funding to $ 7.4 billion.
The number of deals was also seen by 27 percent compared to 2023. According to the report, the Newly Founded Tech Startup recorded a 2.1-fold increase during the year, leading to an estimated total number of Indian technical startups to 32,000-35,000.
NAScom President Rajesh Nambiar said, “The increase in mature and emerging areas, especially in Dippatake and AI, reflects the increasing maturity of Indian technical startup ecosystem, developing from ‘a center of opportunities’ to become a strategic power to carry out India’s digital economy.
He added, “Dippatak Startups play an important role in shaping India’s innovation landscap. Our focus should now be on strengthening the basic pillars of this growth, including increasing access to capital to building strong innovation infrastructure. It should also be ensured that our startups can compete at the global level by solving specific Indian challenges.”
According to the stage, in terms of funding, the seed-stage displayed the highest growth of 29 percent (in terms of total funding share), followed by early-sted with 25 percent and late-stage with 21 percent in 2024 compared to 2023.
In 2024, about 67 percent tech startup funding focused on the ‘mature’ areas, which is characterized by high overall funding value and deal share.
In 2024, the Dippatch funding rose 78 percent to $ 1.6 billion.
Jinov’s CEO Pari Natarajan said, “At the center of India’s development, startups are promoting innovation and economic change. India is not only a consumer of cutting-edge technology, but it is also the creator, leader and article of innovation.”
The report said that about three-fourths of Indian tech startups remain optimistic about the funding outlook for 2025, while about 98 percent of the respondents are expected to increase revenue in 2025.
-IANS
SKT/GKT
