Total funding into SEA tech startups falls 71% year on year to US$2.3B in first half
Total funding into Southeast Asia (SEA) tech startups fell 71% to US$2.3 billion in the first half of 2023, from US$8 billion a year ago, said Tracxn Technologies Ltd in its SEA Tech Semi-Annual Funding report. The total funding in the first half is 45% lower than US$4.3 billion raised in the second half of 2022. The decline was largely driven by a plunge in late-stage investments in the first half, which fell 54% and 72% when compared with the second half of 2022 and first half of 2022 respectively.