India’s software-as-a-service (SaaS) sector recovered in 2024, with funding rising by 31.25% year-on-year to US$2.1 billion, according to the Indian Tech Startup Funding Report 2024.

This rebound comes after funding dropped to $1.6 billion in 2023, returning to 2019 levels.

The number of deals increased modestly, rising by 5% year-on-year to a total of 207.

The median investment size for SaaS in 2024 remained flat at US$2 million.

This figure is slightly below the $2.1 million recorded in 2023.

Recent SaaS developments

Timeline 26-Dec-2024 📉 Indian SaaS unicorn LeadSquared reports $19m loss in FY24 LeadSquared reports FY24 net loss of ₹162.24 crore Operating revenue rises 9.12% to ₹279.29 crore 03-Nov-2022 📉 SaaS unicorn Chargebee lays off 142 employees Chargebee cuts 10% of workforce, 142 jobs lost. Decision aims for operational efficiency amid debt. 08-Jun-2021 🚀 SaaS startup incubated by ING Labs Singapore bags $2.5m from Elev8, others ING Labs Singapore spins off Stemly platform $2.5M raised for Stemly from multiple investors 20-Apr-2021 📈 SaaS startup Chargebee enters unicorn club with $125m round Chargebee raises $125M, valued at $1.4B Plans global expansion with new funding 11-Oct-2015 🚀 SaaS is the new black – and it has found a place in Chennai Girish Mathrubhootham shared key metrics at SaaSx 2015 SaaS startups focused on community and innovative solutions 21-May-2015 🔧 SaaS for mobile repair shops? This startup thinks it’s a huge opportunity Americans spent $23.5 billion on repairs. RepairDesk offers a unique POS for repair shops. ……