Southeast Asia's startup funding drops for 3rd consecutive year in 2024

Region mints only one unicorn as late-stage deals sink

20230120 Singapore downtown

Singapore accounted for 68% of Southeast Asia's startup funding proceeds in 2024.  © Reuters

TSUBASA SURUGA

SINGAPORE -- Southeast Asia's startup funding in 2024 dropped for the third consecutive year, falling to a fifth of the peak it recorded in 2021, with investors anticipating greater uncertainties weighing on the region under the new U.S. administration.

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