Indian startup ecosystem has reached 12.2 billion dollars in funding in the first 10 months this year. It has already surpassed the total amount raised throughout 2023, with two months to go.

Homegrown startups crossed 1 billion dollars in funding again across 119 deals in the month of October. September saw the second-highest funding with 1.63 billion dollars, behind the peak of 1.92 billion registered in June.

In October, the growth and late-stage funding segment comprised 28 deals, contributing 846.2 million dollars to the total funding amount.

Last month, Union Cabinet, chaired by Prime Minister Narendra Modi, approved the setting up of a 1,000 crore rupees venture capital (VC) fund dedicated to the growing space sector.

The deployment period of the proposed venture capital fund, under the aegis of IN-SPACe, is planned to be up to five years from the actual date of the start of the fund operations. The average deployment amount could be 150 to 250 crore rupees per year, depending on the investment opportunities and fund requirements.