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Startups

Asian startups under pressure to cut costs after funding drops

India's Byju's shows how founders face tough choices to ensure profitability

Indian startup Byju's advertises at a World Cup match in 2022.   © USA TODAY

TOKYO -- Last year was one of upheaval for startups around the world as their fundraising plunged from the record highs seen in 2021. Asia, where digital economies are still young and fast-growing, was no exception.

Fundraising through new-stock issuances by Southeast Asian startups held steady in the first half of 2022 but declined more than 30% on the year in the July-September quarter, DealStreetAsia reports. In India, startups raised a total of $26.3 billion in 2022, down nearly 40% from the previous year, according to Indian data company Tracxn.

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