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Dear reader,
In December 2023, Southeast Asia witnessed a significant downturn in fundraising, with companies securing $108 million in capital across 19 funding rounds, marking a 57.5% decline from November 2023 and an 89% drop compared to December 2022.
The month emerged as the least funded throughout 2023. Early-stage investments dominated the landscape, constituting ten deals, followed by seed-stage with eight, and late-stage with only one deal. Noteworthy funding recipients in December were Doctor Anywhere ($40.8 million), Igloo ($36 million), LiveIn ($8.3 million), RADC ($5.41 million), and Klinik Pintar ($5 million).
Among investors, 500 Global led with three deals, followed by Tai Partners (2) and Wavemaker Partners (1). Interestingly, May 2023 emerged as the most lucrative month, attracting $2.5 billion in total funding, highlighting fluctuations in investment patterns throughout the year.
These trends may indicate varying investor sentiments and economic conditions impacting the startup ecosystem in Southeast Asia.
Sainul,
Editor.
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With US$108M raised, December was the least funded month in 2023: Tracxn
Southeast Asia-based companies raised just US$108 million in venture capital across 19 funding rounds in December 2023; The number is ~57.5% less than the amount raised by regional companies in November 2023 and 89% less than the capital secured in Dec. 2022.
Khazanah, CGC Digital invest in Funding Societies
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Micoworks scores US$24.5M to expand its marketing platforms into SEA
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Zenius to temporarily shut down after facing operational challenges
The Indonesian edutech company did not specify when its services would be unavailable; It also did not specify what would happen to its employees; Over the past two years, the company showed signs of struggle as it underwent three rounds of job cuts.
Indonesian fintech firm Komunal raises US$5.5M
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OpenAI said that developers building GPTs will have to review the company’s updated usage policies and GPT brand guidelines to ensure that their GPTs are compliant before they’re eligible for listing in the store — aptly called the GPT Store.
AI likely to make up to 20K jobs redundant
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Wildfire eliminates landfills by turning residual wastes into renewable energy, hydrogen
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Ampotech aims to revolutionise smart buildings with IoT and edge computing
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The post Ecosystem Roundup: December was the least funded month of 2023; Zenius to temporarily shut down appeared first on e27.
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