Generative artificial intelligence (GenAI) start-ups increase from over 66 to over 240

IT industry body Nasscom on Wednesday said that the total number of start-ups in the generative artificial intelligence (GenAI) space in India has increased from over 66 in the first half of 2023 to over 240 in the first half of 2024, adding 174 start-ups in one year.

However, the cumulative funding growth in the GenAI start-ups was relatively slower, rising from around $608 million in H1 2023 to $758 million in H1 2024.