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ASEAN startups surpass pre-COVID total funding deal values

Philippines among countries recording big pickup in H1 2021

Employees work at Mediatrac, a data analytics startup in Jakarta: Southeast Asia has seen a strong rebound in deals as investors adjust to the setbacks from the COVID-19 pandemic.   © Reuters

SINGAPORE -- This year is shaping up to be a bumper year for startups in the Association of Southeast Asia Nations looking to raise funds, as deal values skyrocket to a high not seen even in 2019, before the COVID-19 pandemic hit, defying a health crisis that has dragged the world into a slump.

Despite the pandemic largely sealing off borders in the 10-country bloc, which keeps investors and young companies from meeting face to face easily, deal values hit $11.7 billion in the first half of this year alone.

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