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As virus wanes in China, startups see 'promising' funding rebound

But rest of Asia and elsewhere still struggle to raise needed cash amid pandemic

TOKYO -- Startups in China are experiencing a rebound in venture capital funding as the coronavirus crisis in the country wanes faster than in other regions, according to a recent report published by Startup Genome.

As the first country hit by COVID-19, China saw a drop of over 50% in funding of Series A or later rounds in January and February compared to December of last year, the report said. The pandemic dealt it a significant blow given that global venture capital funding dropped by 20% over the same time period.

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