The total deal value of venture capital (VC) funding in India crossed the $1 billion mark for the year 2024 in February. A total of 171 VC funding deals were announced in the country during the first two months of 2024, while the disclosed funding value of these deals stood at $1.1 billion, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that VC deal volume declined by 13.2% year-on-year (YoY) when compared to the 197 VC deals announced in India during January-February 2023, whereas the corresponding funding value declined by 26%.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although there was a YoY decline during January-February 2024, India witnessed month-on-month improvement in VC funding deal volume and value by 8.5% and 39.3% in February 2024, respectively, compared to the previous month. It would be interesting to see how the VC funding landscape shapes up in the coming months.”

In fact, there was a month-on-month improvement in the average size of VC deals announced in February 2024 as well. The average size of VC deals with disclosed funding value increased from $7.3 million in January 2024 to $8.5 million in February 2024.

Bose adds: “Apart from being a key market in the Asia-Pacific region, India is also a major player in the global market. It was among the top five countries globally in terms of both VC funding deal volume and value during January-February 2024.”

India accounted for 7.4% of the total number of VC funding deals announced globally during the first two months of 2024 while its share of the corresponding disclosed funding value stood at 3.4%.

(Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain)