India Ranks 2nd in Global D2C Sector Funding in 2024: Report

Blitz Bureau

India secured the second-highest funding in the global direct-to-consumer (D2C) sector in 2024, trailing only the US and ahead of China, the UK, and Italy, according to a new report by Tracxn.

The Indian D2C space raised $757 million over the year. With more than 11,000 D2C startups in the country, around 800 of them have received funding so far.

Early-stage funding rose 25% year-over-year to $355 million, while seed-stage funding increased 18% to $141 million—indicating investor confidence in the sector’s long-term potential. “Investors are now focusing on sustainable growth and profitability,” said Tracxn Co-Founder Neha Singh.

Top-funded categories included organic beauty products, online jewellery, and general beauty brands. Organic beauty alone pulled in $105 million—a 79% rise from 2023.

BlueStone landed the biggest deal of the year, raising $71 million in Series D funding, valuing the brand at $964 million.

Bengaluru led with $253 million in D2C funding, followed by Gurugram at $164 million and Mumbai with $99.8 million. Together, Bengaluru and Gurugram accounted for more than half of all investments.

Government programs like Digital India, Startup India, and ONDC, along with initiatives such as the Export Promotion Mission, GeM, and the Green Credit Programme, are supporting the growth and global expansion of India’s D2C ecosystem.

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