Report: Despite significant tech funding decline in 2024, Singapore emerges as standout performer

Quick Summary:

The Southeast Asian (SEA) tech sector faced a challenging year in 2024, with startup funding plummeting to US$2.84 billion—a 59.14 per cent decrease from US$6.95 billion in 2023, according to the Tracxn Geo Annual Report: SEA Tech 2024.

Late-stage startups were hit hardest, experiencing a staggering 76.9 per cent drop in funding.

The decline in SEA was observed across all funding stages.Seed funding fell by 52.4 per cent, while early-stage funding contracted by 28.6 per cent.

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Article Details

Author / Journalist: Anisa Menur

Category: StartupsTechnology

Markets: Singapore

Topics: Fundraising Investments Tracxn Report Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 09:25:19 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: e27.co

Language: English

Article Length: 577 words

Reading Time: 4 minutes read

Sentences: 1 lines

Sentence Length: 577 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © e27

News ID: 24535244

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Main Topics: StartupsTechnology

Official Website: e27.co

Update Frequency: 11 posts per day

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News Last Updated: 20 hours ago

Coverage Areas: Singapore

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