Funding for Southeast Asian startups fell below $1bn in Q3

Figures highlight prolonged slowdown amid challenging global conditions

20241017 startup company in Jakarta

A startup company's office in Jakarta. Startups in Southeast Asia raised a total of $979 million in the July-September quarter. (Photo by Ken Kobayashi)

CORRY ANESTIA, DealStreetAsia

JAKARTA -- The third quarter of this year saw Southeast Asia's startups ink the fewest private funding deals in six years, finds the latest report from DealStreetAsia.

Regional startups recorded 134 equity deals in Q3 to raise a total of $979 million in the July-September quarter, reveals "SE Asia Deal Review: Q3 2024." This is the first time since 2019 that quarterly proceeds have fallen below the $1-billion mark.

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