India, Dec. 30 -- After several years of leading the way when it comes to startup funding in India, Bengaluru lost the top spot to Mumbai in 2024, primarily driven by the $1.3 Bn fundraise for quick commerce unicorn Zepto. Overall, Mumbai startups raised $3.7 Bn in funding in 2024.

While Bengaluru and Delhi NCR led when it came to the number of deals in 2024, Zepto was solely responsible for pushing Mumbai to the top spot for the total funding amount. Overall, Indian tech startups raised over $12 Bn this year across 993 deals.

According to Inc42's 'India Tech Startup Funding Report 2024', the funding for Mumbai startups was 147% higher in 2024, as compared to 2023. Startups in the city were part of 175 funding deals, which was a 9% grow...