Pharma funding drops 64% in October 2024, but shows slight increase from last year

Funding in the pharma and healthcare space decreased by 64.36 per cent in October 2024, amounting to $72 million, compared to $202 million raised in September 2024. Despite this decline, the October 2024 figure marked a slight increase of 5.26 per cent from the $68.4 million raised in October 2023.

In terms of stagewise funding, early-stage and seed-stage rounds together accounted for approximately half of the total funding in October. Seed-stage rounds contributed 30.4 per cent of the total, while early-stage rounds raised 21.9 per cent. Late-stage rounds contributed 47.6 per cent of the remaining funding.

The largest funding rounds in October 2024 were reported by HealthifyMe and Primus Life, each securing $20 million. Khosla Ventures, Fireside Ventures, and General Catalyst emerged as the most active investors during the period.