Fortune India
Dubbed the "Silicon Valley of India," Bengaluru is a powerhouse; home to approximately 40% of the nation's startups, with over 11,000 entities in operation. This dominance extends to funding, as the city alone raked in $1.57 billion across 134 deals in the first half of 2024, accounting for roughly half of India's total startup funding over the last decade.
Mumbai, the financial capital, stands out with 73 leading self-made entrepreneurs, ranking second nationwide. In 2024, the city's startup funding reached $3.67 billion across 175 deals, largely fuelled by a significant 154% year-over-year increase and notable deals like Zepto.
Delhi-NCR is a major hub for entrepreneurs, boasting around 85 top entrepreneurs and securing a remarkable 332 deals in 2024. This strong performance propelled the region to 12th globally in 2024, particularly excelling in sectors such as e-commerce, foodtech, and social tech.
Hyderabad ranks 4th nationally, driven by 11 key entrepreneurs and 6 notable startups. Since 2014, the city has secured over 384 deals and $3 billion+ in funding, including $296 million across 46 deals in H1 2024. This success is anchored by T-Hub, India’s largest incubator, and strong performance in enterprise tech, pharma, and biotech.
Pune, ranked 6th nationally, saw $241 million in investments across 18 deals in the first half of 2024. Meanwhile, Chennai, coming in at number 5, edged out Pune with $250 million in funding during the same period. Both cities show significant strength in sectors like SaaS, fintech, deep tech, and agtech.
Beyond major metros, smaller hubs like Ahmedabad, Jaipur, Kolkata, Indore, Chandigarh, Kochi, Hubli, and Vizag are making their mark. Ahmedabad, ranked 8th, is strong in manufacturing and pharma. Jaipur, at 10th, is rising in fintech and edtech. Kolkata (9th) is growing with the Bengal Silicon Valley Tech Hub. Vizag is emerging via Fintech Valley, and Hubli is known for its Hubli Sandbox.
These cities are vital to India's startup scene; 40% of tech startups now originate from Tier 2 and 3 locations. This widespread innovation is also characterized by a strong embrace of cutting-edge technologies, with over 77% of Indian startups investing in AI, ML, IoT, and blockchain.