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New Delhi: <keyword id="20845764" type="General" weightage="100" keywordseo="Indias-startup-ecosystem" source="keywords">India's startup ecosystem</keyword> experienced a surge in <keyword id="19913965" type="General" weightage="20" keywordseo="venture-capital" source="keywords">venture capital</keyword> (VC) funding during the first seven months of 2024, raising a total of USD 6.3 billion through 672 deals. This marks a 42.1 per cent year-on-year (YoY) increase in funding value, despite a modest 1.2 per cent rise in deal volume, according to a report by <keyword id="19910824" type="General" weightage="20" keywordseo="GlobalData" source="keywords" meta.keywordsubtype="org" meta.entityname="GlobalData" meta.hostid="261" meta.entityid="GlobalData">GlobalData</keyword>. The uptick in funding underscores investor confidence in India's <keyword id="21354516" type="General" weightage="20" keywordseo="startup-landscape" source="keywords">startup landscape</keyword>, even as global market conditions remain cautious. An analysis of GlobalData's Deals Database reveals that during the same period in 2023, India saw 664 VC deals with a disclosed funding value of USD 4.4 billion. Aurojyoti Bose, Lead Analyst at GlobalData, commented on the findings and said, "The massive jump in funding value, despite a modest 1.2 per cent growth in deal volume, can be attributed to some of the big-ticket deals announced during the review period. This also proves that even though VC investors remain cautious there is no dearth of money for promising startups." Some of the most notable <keyword id="20948843" type="General" weightage="20" keywordseo="VC-funding" source="keywords">VC funding</keyword> deals in India during January-July 2024 include USD 665 million raised by Zepto, USD 300 million by Meesho, USD 216 million by PharmEasy, USD 150 million by Radiance, USD 148 million by Kogta Financial, and USD 120 million by Rapido. India continues to stand out as a key player in the Asia-Pacific (APAC) region for VC funding, trailing only China. It is also among the top five global markets in terms of both VC deal volume and value. During the January-July 2024 period, India accounted for 7 per cent of the total VC deals announced worldwide, while its share of the disclosed funding value was 4.3 per cent. Bose concluded, "Despite global economic uncertainties, India remains a pivotal market for VC activity, driven by a robust pipeline of promising startups that continue to attract significant capital. This trend reinforces India's position as a critical player in the global venture ecosystem, demonstrating resilience and growth even amid cautious investment sentiment."

First 7 months of FY25 see significant surge in VC funding to India's startups: GlobalData

Investments by <keyword id="34499" type="General" weightage="20" keywordseo="private-equity" source="Orion">private equity</keyword> (PE) and <keyword id="6357097" type="General" weightage="20" keywordseo="venture-capital" source="Orion">venture capital</keyword> (VC) funds to homegrown companies declined to $27.9 billion across 697 transactions this year (as of December 20), compared to $47.62 billion across 1,364 deals in 2022, according to a new report. 2023 saw more money being pulled out from the country by private equity players, with overall exits reaching $19.34 billion from 248 companies, in comparison to 233 exits worth $18.45 billion in 2022, according to data from Venture Intelligence and industry body IVCA. Meanwhile, venture <keyword id="989750" type="General" weightage="20" keywordseo="capital-funding" source="Orion">capital funding</keyword> for <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword> declined by 72 per cent this year compared to last year. The new-age companies in the country received $7.5 billion across all stages (as of December 15), compared with $25 billion last year, according to the data. The fall in <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> this year is chiefly attributed to slow late-stage deals (Series D and above), which more than halved to $3.5 billion from $11.70 billion in 2022. The early-stage funding deals slowed down. The number of deals declined to almost half to 414 rounds from 871 rounds in the year-ago period, according to the report. Growth-stage funding rounds dropped to $1.9 billion via 99 deals, compared with $6.84 billion from 230 deals in 2022. Making a dent in India's startup growth story, the country slipped to fourth position in the global ranking among the highest-funded geographies in 2023, as it recorded lowest funding in five years. After grabbing the third spot globally in 2021 as well as in 2022, India ranked fourth behind the US, the UK and China this year, receiving only $7 billion in total funding (till December 5), according to recent data by global market intelligence platform Tracxn. In the third quarter (Q3) this year, India even slipped to fifth position among the highest-funded countries -- behind the US, the UK, China and France.

PE, VC investments in domestic companies drop to $27.9 bn in 2023

<ul class="summary-list"><li>Antler India plans to invest in 120 startups over four years with a $75 million fund.</li><li>The firm runs cohorts for individual founders and teams, selecting 100 from up to 5,000 applicants.</li></ul>This as-told-to essay is based on a conversation with Rajiv Srivatsa, a partner at Antler India, a <a target="_blank" class="" href="https://www.businessinsider.com/founders-putting-startup-dreams-on-hold-in-the-tech-downturn-2024-7">pre-seed venture capital firm</a> based in Bengaluru. It has been edited for length and clarity.I'm a <a target="_blank" class="" href="https://www.businessinsider.com/landed-vc-job-varied-resume-diverse-experience-resume-2024-8">partner</a> at Antler India, an early-stage <a target="_blank" class="" href="https://www.businessinsider.com/startup-success-secret-vcs-founders-nate-silver-on-the-edge-2024-8">venture capital</a> fund. We launched the India chapter about four years ago, and it was the firm's sixth location globally. Antler India has a $75 million fund, which we closed in March.Our plan is to invest in 120 <a target="_blank" class="" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">startups </a>over four years, and we have about 65 to date.The classic Antler model includes running a <a target="_blank" class="" href="https://www.businessinsider.com/top-vc-firms-funding-creator-economy-startups-next-phase-2024-6">cohort of individuals </a>who are transitioning from being employees to startup founders. We help them look for their cofounders and give shape to their idea.One thing we do differently in India is we run a cohort for teams as well. We found that there is a social tendency for people to prefer going into business with people they have known from college or work, and we welcome founders who may already have a team or product in mind.My team and I receive about <a target="_blank" class="" href="https://www.businessinsider.com/how-to-apply-y-combinator-application-down-market-successful-2022-8">4,000 to 5,000 applications</a>, and we select 100 people to join our individual founders' cohort. The program runs for six months, and we end up investing in 20-25 people, or eight to 10 companies. We give them a sum of $250,000 to fund their idea, and another $250,000 once they raise additional capital.I've been a founder myself and have run a company in the 2010s. I have seen two main positive shifts in the Indian startup market.It is a lot easier to attract talent than it was 10 years ago. There was a lot of entitlement and questioning from potential employees, because working for startups instead of long-established companies was seen as a risk. Since the pandemic, there has been a shift, and people are keen to join startups.Founders are getting more mature by the year and have a better understanding of what it takes.They're more frugal because they know capital is tight and they have given their industry more thought. They're not getting into business because something is hot and are instead building for the next five to 10 years. They also assume that their products will need higher traction to raise the same amount of money that would have been invested in them before.Here are five things I look for in <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-partner-jess-lee-advice-for-startup-founders-2022-9">first-time founders</a>:<h2 id="5a01f9b1-7907-4c47-aa10-ead284c40a4d">Five founder traits</h2>Execution and strategy: This is their ability to iterate fast — move between ideas, drop things, and find something new quickly.We also seek people who have ideas that match their skill sets. For example, we don't want to invest in an AI company where none of the founders have solid tech expertise. In the early or "zero to one" and "one to 10" stages, founders have to be able to do things on their own.Grit and tenacity: Either in their personal life or professional life.Customer obsession: We spend the longest time gauging how obsessed a founder is with their customer and problem statement. We want to know if it's just a flash in the pan or if it's something they have been debating over many years. Does the founder really feel the pain of the customer?We want people who are not just armchair experts but have worked with customers and gotten their hands dirty. Someone who has spent their professional life making presentations and in conference rooms may not cut it.Communication: Another thing we look for is a high level of clarity in thinking and how they communicate. At the end of the day, venture capital is a continuous fundraising game — you have to always keep finding good talent, as well as keep telling new investors and the media your story.We try to gauge if the person is getting mixed up, or if they're clear about what they're doing.Ambition and scale: The venture capital industry does not work if you want small outcomes. Even if you don't want to be a unicorn, a startup that is valued at $1 billion, you still need to think in terms of hundreds of millions of dollars of valuation and foresee hundreds of millions of people using your product.<h2 id="019aa888-dfdf-4ac4-bda4-422664c1e934">Plus an X-factor</h2>We don't look for people who score about 80% to 100% on each of these criteria. Instead, we prefer if, for one to two of the five traits, they demonstrate a spike or an X factor — they immediately stand out as someone who is world-class when it comes to execution or communication, for example.We want people who are terrible at some things but exceptional at others.<h2 id="e8cf18ff-f29f-4d97-9753-7fe9d1705a42">Cofounder complements</h2>Most of our participants look for their cofounders after they've entered the cohort, and we spend a lot of time and attention matching people.In my experience, India is not a country where teaching communication is emphasized a lot, so we ask each participant 60 questions to understand their values, working styles, and personality types. We look for complements and see pair-ups between one person with a technical background and one person with business acumen. If a third cofounder is needed, they usually come with operations expertise.One company we recently funded is working on listening to conversations between employees and customers in retail stores, in order to provide retail data to convert more customers. It was the outcome of someone who has worked in retail for years, paired up with a cofounder with tech background.Are you a founder who moved to India to launch their own startup? Please reach out at shubhangigoel@insider.com

I'm a VC in the world's fastest-growing economy. I look for 5 traits in first-time founders.

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First 7 months of FY25 see significant surge in VC funding to India's startups: GlobalData

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PE, VC investments in domestic companies drop to $27.9 bn in 2023

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I'm a VC in the world's fastest-growing economy. I look for 5 traits in first-time founders.

Shubhangi Goel

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