SINGAPORE — Southeast Asian startup fundraising dropped to its lowest stage in additional than 5 years in January to March, in keeping with a latest trade report, reflecting the extended funding slowdown within the area because the finish of the COVID-19 pandemic, with little signal of restoration.
Startups within the area raised $1 billion in fairness funding within the first three months of 2024, down 41% from the identical interval a yr earlier and fewer than half the extent of the fourth quarter of 2023, in keeping with the SE Asia Deal Overview compiled by DealStreetAsia, a Singapore-based monetary information web site. In all, 180 offers have been executed within the quarter, down from 193 a yr earlier.