Women-led tech companies globally secured $29.6 billion in 2024, representing an 11% decline from $33.1 billion in 2023 and a 21% drop from $37.5 billion in 2022, as per a report by startup research and analytics firm Tracxn.
Many women-led tech startups reported big-ticket investments, with three companies reporting $1 billion+ rounds in 2024, these include Open AI, Abound, and Wiz. A total of 45 funding rounds crossed the $100 million+ mark in 2024, a 15% increase from 39 in 2023 but a 40% drop from 75 in 2022
Enterprise Applications, Life Sciences, and FinTech were the highest-funded segments among women-led startups in 2024. The Enterprise Applications sector secured $16.1 billion in 2024, representing an 8% and 5% decline from $17.5 billion in 2023 and $16.9 billion in 2022, respectively.
The India Story
India, which is home to over 7,000 active women-led startups, accounting for 7.5% of all active startups in the country, has ranked second after the US in terms of all-time funding raised by companies with women founders, with total capital mobilisation at $26 billion in this space till date.
According to a recent report by startup research and analytics firm Tracxn, these ventures have collectively raised $26.4 billion in funding, with 2021 being the highest-funded year at $6.3 billion.
On a global scale, 2022 saw the highest funding contribution from Indian startups at 15.18%. That year, women-led startups in India raised $5 billion, compared to $32.8 billion globally.
In 2024, India ranked third globally in terms of funding raised by startups co-led by women, after the US and the UK, accounting for 3.96% of funding raised by women-led startups across the globe.
Y Combinator, Techstars, and Antler were the most active seed-stage investors in 2024, while Lightspeed Venture Partners, General Catalyst, and Accel took the lead in early-stage investments. Notable Capital, Sapphire Ventures, and Softbank Vision Fund were the top late-stage investors.
The retail sector takes a strong lead based on investments raised by women-led startups, securing $7.8 billion in all-time funding. Edtech ($5.4 billion) and Enterprise Applications ($5 billion) follow closely. Notably, sub-sectors such as B2C e-commerce, internet-first brands, and fashion tech are seeing significant activity, with several startups co-led by women.
In terms of cities, San Francisco ($9.4 billion), New York City ($1.9 billion), and London ($1.8 billion) took the lead in terms of city-wise funding in 2024, cementing their position as global tech hubs.
In India, Bengaluru leads in both the number of women-led startups and total funding raised to date, followed by Mumbai and Delhi NCR, as per the Tracxn report.
India’s women-led unicorn journey was marked by a remarkable surge in 2021 with eight new unicorns and steady growth in 2019 (three), 2020 (four), and 2022 (five). However, no 2023, and 2024 saw no new unicorns, indicating fluctuating momentum.
Globally, 14 women-led unicorns emerged in 2024, representing a 134% increase from 6 in 2023. In India, five women-led startups went public in 2024: MobiKwik, Usha Financial, Tunwal, Interiors and More, and LawSikho. As of now, 2025 has not seen any IPOs.
The highest number of acquisitions of women-led startups was recorded in 2021, with 45 buyouts. However, this number dropped to 36 in 2022, and further decreased to 25 in 2023. In 2024, the number of acquisitions was at 16.
While the startup ecosystem still has a long way to go in bridging the gender funding gap, these trailblazers are proving that women-led startups are driving India’s growth story, as per Tracxn.
To counter challenges faced by women-led startups, various governments have introduced initiatives to empower women entrepreneurs. In India, the government has launched schemes such as the Trade Related Entrepreneurship Assistance and Development (TREAD) program, which provides financial loans through NGOs.
These initiatives aim to create a more equitable entrepreneurial ecosystem by offering financial support, training, and networking opportunities.
