Pune startups raise $395 million in 2024, witness 10% dip in funding

Shashank Didmishe / TNN / Jan 23, 2025, 14:22 IST

Text Size

Small
Medium
Large

In 2024, Pune startups attracted $395 million in funding across 70 rounds, reflecting a nearly 10% decline from the previous year, according to Tracxn. Despite this downturn, investor interest remains strong, with Pune flourishing as a hub for sectors like cyber security, agritech, and healthcare. Pune's total funding lagged behind cities like Bengaluru and Mumbai.

Pune startups raise $395 million in 2024, witness 10% dip in funding

Pune startups raised $395 million in 2024, slightly lower than the previous year's $437 million. Despite the decline, investor sentiment remains positive due to the city's growing talent pool and the establishment of global capability centres.

PUNE: Startups in Pune garnered funding of $395 million (around Rs 3,414 crore) in 2024 through 70 rounds. This was close to 10% lower compared to $437 million raised through 110 funding rounds by startups in the city in the previous year, data from Tracxn showed.
Despite the decline, investor sentiment for startups in the city remains upbeat. Pune has a growing talent pool at its disposal from the IT hubs and is also witnessing establishment of major global capability centres (GCCs) which can support the startup ecosystem, Rajeev Ranka, partner, Incubate Fund Asia, said.
"Pune has been a renowned hub for automotive, manufacturing and IT Services. It is slowly also transforming into a hub for start ups from sectors such as cyber security, agritech, SaaS, deeptech, healthcare, and life sciences," Pratip Mazumdar partner, Inflexor Ventures, said.
The decline in startup funding in Pune was in line with the overall funding climate. However, Hyderabad bucked the trend as the startups in the city doubled their funding from $202 million in 2023 to $555 million in 2024.

Pune startups raised the lowest amount in total funding compared to top five cities, namely Bengaluru ($3.5 billion), Gurugram ($897 million), Hyderabad ($555 million) and Mumbai ($2.9 billion).
Pune also saw total of 4 acquisitions in 2024 compared to 10 in the previous year. In comparison, Bengaluru saw 45 acquisitions followed by 23 in Mumbai, 10 in Gurugram and 5 acquisitions in Hyderabad, Tracxn data showed.

End of Article