New Delhi: The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups’ funding and enabled them to raise more than $12 billion.
Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country.
Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, new-age tech companies raised more than $151 billion in funding.
Startups raised the highest funding of $42 billion in a year in 2021. After this, an amount of $25 billion was raised in 2022, $10 billion in 2023 and $12 billion in 2024.
Zomato, a company listed on the stock market, has managed to make its place in the country’s index of big companies, Sensex, this year. The food delivery company replaced 142-year-old steel company JSW Steel in the BSE (Bombay Stock Exchange) benchmark.
In 2024, India got its first AI unicorn Ola Krutrim. This was the third unicorn to come from the Ola Group. Bhavish Aggarwal-led Serial became a unicorn in January this year.
There are currently 118 unicorns in India.
In 2024, 13 startup companies together raised Rs 29,247.4 crore from the stock market. Out of this, Rs 14,672.9 crore was a fresh issue, while Rs 14,574.5 crore was an Offer for Sale (OFS).
Out of these 13 IPOs, 10 were mainboard and three were SME IPOs.
Ten startup companies launched IPOs in 2021, six in 2022 and six in 2023.
In 2024, Swiggy offered the largest IPO among startup companies, which was Rs 11,327.43 crore.
Following this, Ola Electric was at number two with an IPO of Rs 6,145.56 crore, FirstCry was at number three with an IPO of Rs 4,193.73 crore, Digit Insurance was at number four with an IPO of Rs 2,614.65 crore and TBO Tech was at number five with an IPO of Rs 1,550.81 crore.
(IANS)
