Gen AI Funding in India Rises to $400 Million in 2024

Gen AI funding in India rose sharply to $400 million in 2024 from $250 million in 2023. The growth was fueled by the growing adoption of AI-powered applications in enterprise workflows. Approximately 70% of the funding was on applications, with less emphasis on foundational models compared to international markets. The volume of deals grew to 33, while average deal sizes fell. This growth indicates India's rising significance in the AI ecosystem, driven by no-code platforms and domain-specific large language models.

 

Source: Financial Express, Economic Times, Business World