- Tech funding in Southeast Asia hit rock bottom
- Singapore dominates regional investments
- Government initiatives spark future optimism
Money’s Getting Shy
Southeast Asia’s tech scene faced a brutal reality check in 2024, recording its lowest funding in five years. The region’s startups pulled in just $2.84 billion – a stark 59% nosedive from 2023’s $7 billion haul. Late-stage investments took the hardest hit, tumbling nearly 77% to $948 million.
Singapore Stays Strong
Despite the funding freeze, Singapore maintained its crown, securing 67% of all regional investments.
The city-state’s tech startups bagged $1.9 billion, leaving Jakarta and Bangkok trailing behind at $276 million and $261 million respectively.
Silver Linings Ahead
The region’s FinTech sector proved resilient, leading the pack by raising $1.4 billion. Government initiatives showed promise too – Singapore pumped $328.5 million into deep-tech innovation, Malaysia unveiled ambitious startup hub plans, and Vietnam pushed for nationwide 5G coverage by 203
