The FY23 Financials Of Indian Startups

• Amidst a prolonged funding winter, Indian startup ecosystem saw significant salary reductions for founders in FY24.
• Supam Maheshwari of FirstCry topped the list with INR 103.8 Cr, despite a 50% pay cut from the previous year.
• Overa...

Inc42 just released their Indian Tech Startup Funding Report H1 2024 - find it at tinyurl.com/24lr2s6c

As we dissect the data, several key trends emerge that paint a picture of an ecosystem in transition:

1. Resilience Amid Global ...

• Groww reported a 119% growth in revenue, reaching INR 3,145 Cr in FY24.
• The fintech maintained its operational profitability of INR 535 Cr for FY24.
• Groww paid around INR 1,340 Cr as one-time tax for shifting it...

• Indian startups saw a significant decline in funding rounds, dropping by 32% to 1,448 in 2024, while overall funding rose 6% to $11.3 billion.
• Early-stage investment slowed, with Series A and B deals falling to 387, and seed funding ...