Explore the latest trends in startup funding across Indian cities in our new report. Dive into the data and discover what’s driving innovation in March 2024.
City-Wise Funding in March 2024
Mumbai, Delhi NCR, and Bengaluru emerged as the triumphant trio in March 2024, leading in total funding raised.
| City | Total Funding (₹ cr) |
| Mumbai | 2594 |
| Delhi NCR | 2493 |
| Bengaluru | 1320 |
| Pune | 1284 |
| Chennai | 414 |
| Ahmedabad | 379 |
| Hyderabad | 130 |
| Jaipur | 34 |
| Visakhapatnam | 31 |
| Nagpur | 14 |
| Surat | 7 |
| Chandigarh | 4 |
| Kolkata | 4 |
| Berhampore | 3 |
| Sikandra | 2 |
| Talappilly | 1 |
| Himatnagar | 1 |
| Raurkela | 1 |
| Bangana | 1 |
Investor-Wise Deal Volume in Tier 1 & Tier 2, 3 Cities
While tier 1 cities stole the spotlight, tier 2 and 3 cities carved their niche with a notable share of angel rounds.
In March 2024, 24% (11) angel rounds happened in tier 2, 3 city startups. In comparison, only 3 VC/PE deals happened in tier 2, 3 city startups and one family office deal.
Average Deal Size for Tier 1 & Tier 2, 3 City Startups
When it comes to deal size, tier 1 cities emerged as the heavyweight champions, towering over their tier 2 and 3 counterparts.
Average deal size for tier 1 city startups was almost 12x of tier 2 & 3 city startups.
| City | Average Deal Size (₹ cr) |
| Mumbai | 170.89 |
| Delhi NCR | 73.709 |
| Bengaluru | 63.466 |
| Pune | 160.541 |
| Chennai | 414.25 |
| Ahmedabad | 126.417 |
| Hyderabad | 32.394 |
| Jaipur | 16.84 |
| Visakhapatnam | 31 |
| Nagpur | 14 |
| Surat | 7 |
| Chandigarh | 4.144 |
| Kolkata | 3.5 |
| Berhampore | 4 |
| Sikandra | 1.75 |
| Talappilly | 1 |
| Himatnagar | 0.836 |
| Raurkela | 0.8 |
| Bangana | 0.75 |
| Coimbatore | 0.4 |
| Lucknow | 0.35 |
| Dehradun | 0.1 |
Deal Value Split by Tier 1 & Tier 2, 3 Cities
While tier 1 cities commanded the lion’s share of funding, tier 2 and 3 cities showcased their resilience and potential with a commendable showing.
Almost 96% (₹8,621 cr) of the total funding raised in March 2024 went to tier 1 city startups as compared to ₹336 cr raised by tier 2 & 3 city startups.
In terms of deal count, 118 funding deals were recorded in March, out of which 99 were raised by tier 1 city startups.
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