Southeast Asian tech startups saw a 39% reduction in fundraising deals and a 42% decline in deal value in 2023 compared to 2022. However, the value of deals was 87% higher in the second half of 2023, compared to the first six months of the year.

The fintech and ecommerce sectors remained the top two sectors by volume, despite their combined share declining slightly from 40% to 38%.

While Singaporean startups continued attracting the largest share of deals, activity in Indonesian tech startups decreased.