These startups in Southeast Asia are hustlin’

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Hello readers,

Here’s a little perk-me-up for the first Monday of April: Startups in Southeast Asia are still getting attention.

Startups in the region banked US$8.2 billion in investment last year – almost the same amount raised in 2019 – despite the pandemic’s economic impact. To all the founders who made their successful pitches and secured their funding at a time when investors were more careful with their spending, good job! Let’s make the amount even bigger this year.

Today we look at:

• The booming startups in Southeast Asia
• A Singapore-based fintech startup saw 200x growth
• Other newsy highlights such as Hmlet’s latest job cuts and a home-cleaning startup’s IPO plan

PREMIUM SUMMARY

These startups are hustling in Southeast Asia

We can’t deny that heavyweights like Grab, Gojek, Bukalapak, and Traveloka played a huge part in bumping up total funding for Southeast Asia’s startups in 2020. But smaller deals are also on the up and up: The total volume saw a 26% increase compared to 2019. So today, all eyes are on the smaller firms that have raised funds this year.

• Made in:: About 70% of the startups in the list are from Singapore and Indonesia. That’s probably not a surprise, given how a similar trend was also spotted in 2020: 64% of the total number of deals were invested in startups based in the two countries.
• You want it, you got it: Verticals of all sorts are featured on the list, from edtech to software-was-a-service (SaaS) tools and even co-farming.
• A trend or a reality?: Besides the usual edtech, fintech, and SaaS startups, rounding up the list were more sustainable startups that focus on e-waste, renewable energy, and modern farm spaces.

Read more: 50 rising startups in Southeast Asia

STARTUP SPOTLIGHT

This Singapore-based fintech startup saw 200x growth

StashFin said it has achieved profitability and posted 200x growth over the last few years. To continue this growth, the Singapore-based neobank raised US$40 million in series B extension funding from Altara Ventures and Uncorrelated Ventures.