The capital-starved Indian startup ecosystem witnessed a pleasant June 2024 as funding levels recovered to some extent on the back of Zepto’s $665 Mn funding round The June 2024 edition of ‘30 Startups To Watch’ features over 75% of the startups coming from India’s three major startup hubs — Bengaluru (13), Mumbai (6), and Delhi NCR (5). As we close the first half of 2024, we continue to keep an eye on some of the most interesting ventures nestling in India’s startup ecosystem Even as North India seethed under the sweltering sun, the capital-starved Indian startup ecosystem witnessed a pleasant June 2024 as funding levels recovered to some extent on the back of Zepto’s $665 Mn funding round. While the shoots of funding revival brought some respite, the road to recovery, in terms of funding numbers, still seems far.
Notwithstanding the freefall in funding raised by Indian startups in the past one year, the world’s third-largest startup landscape is slowly climbing its way up, as investor confidence is coming back stronger than a ’90s trend. Leading the charge of this turnaround from the front is the GenAI boom in the country, which has enticed both global and domestic VC and PE firms. Coupled with the emerging arena of cleantech and ever-growing direct-to-consumer (D2C) brands in the country, the Indian startup landscape appears well-poised to fuel the next stage of growth.
However, profitability and sustainability still seem to be high on the agenda of inves.