Bengaluru tops the country in startup funding with Rs 2661 crore

New Delhi: According to the Startup Funding in India February 2024 report, Bengaluru has emerged as the top city for startup funding in the country. It has received 53 percent of the total startup funding i.e. Rs 2661 crore. Rupee. In the race for startup funding, Mumbai is at Rs 922 crore and Delhi is at second place. Rs 829 crore with third place funding. As stated in a report by Private Circle.

According to the report presented by Private Sakal, Ahmedabad has joined the top 10 cities in the list of top 10 cities for startup funding with funding of Rs 46 crore and Vadodara with funding of Rs 10 crore. However, the funding scenario across tier 1, 2 and 3 cities has seen vast differences. Startups accounted for 99% of total funding in Tier 1 cities in February 2024.

Which was only 1% of the startup funding for tier 2 and 3 cities. The average deal size of city startups in Tier 1 cities was around Rs 33 crore. Whereas for Tier 2 and 3 cities it was only Rs 4 crore per deal, which represents an 8 times difference in deal size.

The total funding amount in February 2024 is Rs. 5039 crore has been reached. In which 7% monthly and 43% annual growth has been recorded. Talking about deal numbers, 130 deals have been registered in February 2024. Which shows an increase of 15% in January 2024 and 19% increase in February 2023. Increasingly, angel funding has emerged as the preferred investor type for startups in tier 2 and 3 cities.

34 percent deals have been done in tier 2 and 3 cities. The city's startup participation in venture capital and private equity deals is only 6%.

Startup funding top 10 cities