Venture capital (VC) funding in Indian startups reportedly declined by 11 per cent to $1.10 billion in October, compared to $1.245 billion raised in the same year-ago period.
Sequentially, the fall was even higher at 20 per cent compared to September 2024.
The total VC funding for the 10 months of 2024, however, posted an over 8 per cent rise to reach $11.7 billion, overtaking the $10.8 billion recorded in the entire 2023, according to a report by Your Story (YS).
The report said fundraising in India continued to stay at billion-dollar levels in October, a trend continuing for the last six consecutive months starting May this year.
Besides the quantum of money raised, October has also seen a slowdown in terms of the number of deals, registering only 103 deals in the month, compared to 117 in September 2024.
In terms of sectors, fintech raised the most funds, followed by edtech and e-commerce.
Mumbai emerged as the leading destination for VC funding in October at $336 million, followed by Bengaluru and Chennai.
Surprisingly, Delhi-NCR, which is generally in the top three, just raised $93 million last month.
Eruditus, Samunnati, and Finova Capital were among the startups which raised funds in the range of $100 million and above, while upGrad and Purplle secured funds within the $50 million-$100 million range.
