Indian startups secured over $1 billion in funding across 126 deals in July 2024, continuing their strong performance from the first half of the year.
The growth stage deals contributed $725 million, while early-stage deals accounted for $311.83 million. This funding includes significant deals from companies like Purplle and Rapido, the latter becoming a unicorn. The Indian government’s abolition of the angel tax is seen as a boost for the startup ecosystem. Despite a drop from June’s $1.93 billion, July’s funding is the highest in three years, indicating robust investor confidence.