CoinVoice learned that a Tracxn report shows that Southeast Asian tech startups will face a sharp decline in funding inflows in 2024, with a total financing of $2.84 billion, a 59% drop from $7 billion in 2023 and an 80% drop from $14.2 billion in 2022. Singapore leads in financing, reaching $1.9 billion, followed by Jakarta and Bangkok at $276 million and $261 million, respectively.
Despite an overall decline in financing, fintech, high-tech, and enterprise applications have still attracted significant investment, raising $1.4 billion, $966 million, and $764 million, respectively. Additionally, emerging industries such as clean technology and blockchain are showing growth potential under regulatory support and investor attention.
The report points out that the Southeast Asian tech ecosystem has demonstrated adaptability through ongoing investment, innovation, and government support. Looking ahead to 2025, fintech, clean technology, and blockchain will become key areas, with expectations that these industries will respond to economic challenges through policy support and investor enthusiasm. [Original link]