Bengaluru attracted 140 VC deals worth USD 3.3 billion in 2024: CBRE
Delhi-NCR closed 183 VC deals totalling USD 1.9 billion, and Mumbai followed with 167 deals worth USD 4.9 billion, stated CBRE's report ‘Global Tech Talent Guidebook 2025’.
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Real estate consulting firm CBRE released its latest report ‘Global Tech Talent Guidebook 2025’. As per its analysis, Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai, with its tech workforce exceeding 1 million.
Bengaluru had the most AI-related professionals in India, placing it on par with established US clusters like San Francisco and New York.
The report identified Bengaluru as among the top 12 global tech powerhouses, alongside leading markets including Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto.
In terms of demographics, Bengaluru ranked 4th among the 12 tech powerhouse markets in share of working-age population, with 75.5 percent of its population falling in the working-age bracket. Moreover, the city recorded a 2.4 percent growth in working-age population between 2019 and 2024, highlighted the report.
The city’s startup ecosystem, supported by 28 unicorns, benefitted from favourable business regulations and strong institutional support, further added the report. A key driver of its growth is the presence of well-known educational institutions and Global Capability Centres (GCCs).
These factors have powered a 12 percent increase in tech employment between 2018 and 2023, aligning with global growth trends.
This robust foundation, backed by the growth of the tech industry, higher tech proliferation, long-term growth prospects and tech talent demand translated into significant VC funding inflows.
In 2024, Bengaluru attracted 140 VC deals worth USD 3.3 billion, including 34 deals in AI, solidifying its status as a top global destination for AI innovation and investment.
According to the report findings, Delhi-NCR closed 183 VC deals totalling USD 1.9 billion, including 42 in AI, and continues to foster innovation through its 15 unicorns and 16 IPOs. Mumbai followed with 167 deals worth USD 4.9 billion, including 26 in AI, backed by seven unicorns and 47 IPOs.
Meanwhile, Ahmedabad and Jaipur have emerged as high-potential, cost-effective tech markets, stated the report. Ahmedabad’s growth in software, IT services, and fintech is further bolstered by infrastructure projects like the 22 million-sq.-ft.
Gujarat International Finance Tec-City (GIFT City) is set to house 550 companies and employ over 20,000 people. Jaipur is attracting a mix of startups and domestic IT services firms, especially those seeking an edge over pricier hubs like Delhi-NCR, highlighted the report.
Anshuman Magazine, chairman and chief executive officer - India, South-East Asia, Middle East & Africa, CBRE, “The distribution of tech talent around the world is the result of many factors that have increased demand for tech workers beyond large tech clusters and into smaller and specialized markets. These factors include labour market conditions, quality of life, demographics, educational attainment, capital funding and the availability and cost of real estate."
He added, "Bengaluru’s emergence as a global tech powerhouse reflects India’s strategic depth in digital innovation, AI, and talent readiness. What’s even more promising is the parallel growth story unfolding in cities like Delhi-NCR, Mumbai, Ahmedabad, and Jaipur—each contributing uniquely to India’s diversified and resilient tech ecosystem. This signals a maturing market that is not only creating value in established hubs but also unlocking potential across emerging corridors.”
Ada Choi, head of research -APAC, CBRE, said, “The tech sector has traditionally been an accelerator of economic transformation, as businesses and consumers increasingly rely on new and improved tech products and services. It has become a larger part of the global economy and has driven innovation and collaboration across geographic boundaries. Companies worldwide are looking farther afield for more tech talent to deploy new, transformative technologies like artificial intelligence for operational efficiencies. Our analysis also provides insight into how the size and depth of each market's tech talent pool contribute to real estate demand.”
