Report · Long report

The Rise of Cloud AI in India 2024

Bessemer Venture Partners Free Advanced India

Tracks the Indian companies crossing $100M ARR and what changed in their motion to get there, which is the population you are joining if you move upmarket. Also the best read on where Indian software and services are converging.

  • 27 Indian unicorns and 14 centaurs added 5.9 billion dollars in revenue in 2023, with Amagi, Shiprocket, and Innovaccer joining the centaur list.
  • 90 percent of surveyed Indian startups shipped at least one AI feature in the past year, and a third now spend over 25 percent of total spend on AI.
  • About 25 percent of Indian venture dollars went to AI startups in 2024, with roughly 175 million dollars into IndAI startups in 2023.
  • India holds 10 percent of global cyber talent, up from 3 percent in 2021, against 1.4 million incidents in 2022.
Open on bvp.com ↗

The question it answers

  1. When is it right to move upmarket, and how do the companies that pull it off actually do it?

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