Southeast Asia’s startup scene sees 59% drop in funding amid economic headwinds

Quick Summary:

Funding secured by startups in Southeast Asia in the first nine months of 2024 declined 59 per cent to US$2.3 billion from the US$5.7 billion raised in the same period last year, revealed a Tracxn report.

The decline is a staggering 80 per cent compared to 2022.

Southeast Asia’s tech startup landscape has raised more than US$85 billion to date and is home to 44 active unicorns.

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Article Details

Author / Journalist: Sainul

Category: StartupsTechnology

Markets: Singapore

Topics: East Ventures 500 Global Investments Tracxn Startups Antler Ryde Gobi Partners SEEDS Capital News Topindoku Funding Wavemaker Partners Peak XV Partners MaNaDr GoHub

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 04:35:20 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: e27.co

Language: English

Article Length: 374 words

Reading Time: 3 minutes read

Sentences: 1 lines

Sentence Length: 374 words per sentence (average)

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

Copyright Owner: © e27

News ID: 22917298

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About e27

Main Topics: StartupsTechnology

Official Website: e27.co

Update Frequency: 10 posts per day

Year Established: 2006

Headquarters: Singapore

News Last Updated: 9 hours ago

Coverage Areas: Singapore

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Publication Timezone: GMT +8:00

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Publisher ID: #10

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