ENA Sectors 2025-01-24 15:06:01 <p><span style="font-size:14px"><strong>Pune, Jan 24 (KNN)</strong> Startups in Pune secured USD 395 million (approximately Rs 3,414 crore) in funding across 70 rounds in 2024, marking a nearly 10 per cent drop from the USD 437 million raised through 110 rounds the previous year, according to Tracxn.</span></p> <p><span style="font-size:14px">While the dip in funding reflects a broader industry trend, investor confidence in Punes startup ecosystem remains strong. The city continues to leverage its robust IT talent pool and the increasing presence of global capability centers (GCCs), which bolster entrepreneurial activity.</span></p> <p><span style="font-size:14px">Pune has traditionally been a hub for automotive, manufacturing, and IT services. Now, its emerging as a fertile ground for startups in cyber security, agritech, SaaS, deeptech, healthcare, and life sciences, said Pratip Mazumdar, Partner at Inflexor Ventures.</span></p> <p><span style="font-size:14px">Rajeev Ranka, Partner at Incubate Fund Asia, emphasized that Punes potential lies in its mix of experienced professionals and academic resources, which position the city well to foster innovation.</span></p> <p><span style="font-size:14px">However, Pune's funding figures still lag significantly behind other startup hubs. Bengaluru led the pack with USD 3.5 billion in funding, followed by Mumbai (USD 2.9 billion), Gurugram (USD 897 million), and Hyderabad (USD 555 million). Hyderabad, notably, defied the declining funding trend by doubling its funding from USD 202 million in 2023.</span></p> <p><span style="font-size:14px">Acquisition activity in Pune also slowed, with just four acquisitions in 2024 compared to 10 the previous year. In contrast, Bengaluru saw 45 acquisitions, followed by Mumbai (23), Gurugram (10), and Hyderabad (5).</span></p> <p><span style="font-size:14px">Experts attribute Pune's slower funding growth to heightened caution among investors in 2024 but remain optimistic about its future. The city's foundation in innovation and its sectoral diversity will continue to attract investments, Ranka added.</span></p> <p><span style="font-size:14px">Despite its challenges, Pune is carving out a niche in emerging sectors, with many startups capitalising on the city's unique advantages.</span></p> <p><span style="font-size:14px">Investors and founders alike believe this resilience will help Pune thrive as a key player in India's startup landscape.</span></p> <p><strong><em><span style="font-size:14px">(KNN Bureau)</span></em></strong></p> 40778 https://knnindia.co.in/news/newsdetails/sectors/pune-startups-raise-395-million-in-2024-amid-funding-decline 2025-01-24 15:06:01 knnindia.co.in