Following a downward trend recorded throughout 2022, investment for startups in Southeast Asia is still slowing down in January.
Based on data from Tech in Asia, there were only 47 funding deals in January, totaling US$220 million. This is down from the 53 deals worth US$840 million recorded in December 2022.
January 2023 also saw the lowest amount of capital secured in the last five years. In contrast, a total of US$1.3 billion in capital was raised by the region’s startups in January 2022.
Despite seeing a sharp decline, total funding in 2022 reached US$18.4 billion, which still exceeded the figure for 2020.
See also: Where are SEA’s laid-off techies headed?
Editing by Miguel Cordon, Thu Huong Le, and Lorenzo Kyle Subido
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