Southeast Asian Tech Startup Investments Fall 13% in First Half
- Regional startups raised $5.6 billion despite pandemic
- A new report shows that Southeast Asia fared better than most
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Southeast Asian technology startups raised less money this year as the coronavirus pandemic roiled markets, but the decline was less acute than some other parts of the world, according to a new report.
They raised $5.6 billion of investments in the first half of this year, down 13% from a year ago, research from Singapore-based venture capital firm Cento Ventures released on Friday showed. That compares with a 16% drop in India and 21% fall in the European Union. North America saw declines of 8% during the same period, according to the report, which covered almost 3,500 deals and is primarily based on public announcements and community disclosures from companies and investors.