New Delhi, Nov 29 (IANS) About 984 venture capital (VC) funding deals were announced in India during January-October 2024, and the total disclosed funding value of these jumped by 44.4 per cent YoY to $9.2 billion during the same period, according to a report on Friday.

The report by GlobalData, a data and analytics company, showed a year-on-year (YoY) improvement of 5.8 per cent in deal volume.

During the same period in 2023, a total of 930 VC deals were announced in India with the total disclosed funding value of these deals pegged at $6.4 billion, the report said.

“Investor confidence seems to be reviving as India demonstrates significant improvement in VC funding activity during the year compared to peer countries. In fact, it was among the few key markets that witnessed the improvement in both deal volume and value during January-October 2024,” said Aurojyoti Bose, Lead Analyst at GlobalData.

“Moreover, India continues to remain among the top five markets globally for VC funding activity in terms of deal volume as well as value,” Bose added.

Further, the report showed that India accounted for a 7.1 per cent share of the total number of VC deals announced globally during this period. On the other hand, its share in terms of the total disclosed funding value stood at 4.2 per cent.

Noteworthy venture capital funding deals in India between January and October include Zepto's $665 million raised in June, followed by an additional $340 million in August.

Other significant funding rounds include Meesho securing $300 million, PharmEasy raising $216 million, PhysicsWallah securing $210 million, and Purplle raising $178.4 million.

“With strong funding rounds and a notable increase in activity, India is well-positioned to maintain its status as one of the top global destinations for venture capital, reflecting the country’s dynamic entrepreneurial ecosystem and potential for sustained growth,” Bose said.

Courtesy Media Group: IANS