In 2024, tech startups in Indonesia secured US$323 million in funding, marking a 75% decline from US$1.3 billion raised in 2023, according to Tracxn’s Indonesia Tech Annual Report 2024.

This represents a 90.05% drop from the US$3.24 billion obtained in 2022.

Late-stage funding experienced the most significant decline, falling 91.95% to US$71.2 million in 2024 from US$884 million the previous year.

Seed-stage funding decreased by 61.54% to US$30.3 million. Early-stage investments dropped by 32.18% to US$221 million.

Despite the overall downturn, FinTech, Enterprise Applications, and InsurTech were the top-performing sectors.

Jakarta remained the primary hub for tech investment, accounting for 85.36% of total funds raised. It was followed by Klaten at 6.19%.