Indian Web3 startups to raise $564 million by 2024, developer community growth leads the world

Odaily News In 2024, the total financing of Indian Web3 startups reached US$564 million, a significant increase from US$270 million in 2023. The largest proportion of investment was in the infrastructure field, mainly supporting artificial intelligence, middleware and data tool projects. In addition, investment in the financial field also increased by more than 50% to US$86 million. India's developer community is growing at the fastest rate in the world, with the number of open source developers increasing by 28% year-on-year to 4.5 million. It is expected to surpass the United States to become the world's largest developer community in 2028.