whatsonpenang.com

You are here: Home -> Blog -> Fundraising For Southeast Asia Tech Startups Steady Despite Pandemic

Fundraising For Southeast Asia Tech Startups Steady Despite Pandemic

March 27, 2021 By Keith Leave a Comment

An informative post on Penang.

Despite the COVID-19 pandemic, fundraising for Southeast Asian tech startups remained steady in 2020, Bloomberg said citing a report by venture capital firm Cento Ventures. Big winners include Grab, Go-Jek and Go-Pay, Bukalapak, and Traveloka – together they received over half of all investment last year.

Tech startups in Southeast Asia raised a total of US$8.2 billion (~RM34 billion) in 2020 – just a 3% drop compared to 2019. Most of that capital (70%) headed to Indonesia, while Malaysia just received a paltry 5% of the total investment volume.

To be fair, Thailand and Vietnam got 5% and 4% respectively. And there’s an obvious reason why Indonesia is such hot real estate – its 270 million plus population.

The bigger picture is that the raging pandemic has barely dampened investment appetite, which is why Grab’s fintech unit raised US$300 million (~RM 1.21 billion) in January. Grab is also mulling a US IPO later this year.

2020 was a highly unpredictable year. Through the tech investment data collected for this report, we had the opportunity to see the impact it had on SE Asia tech:

Full report here:
👉 https://t.co/UOEnUVHAA8
Credit: @Bloomberg @yoolimleenews
👉 https://t.co/tbB3jCwdwS pic.twitter.com/uNFyf6hydI

— Cento Ventures (@cento_ventures) March 26, 2021

Furthermore, any skittishness about the pandemic-stricken economy is quickly counteracted by the massive demand for e-commerce and contactless payment. Unsurprisingly, over half of tech investment in the region went to super-app companies and online retailers – reaching over US$4 billion (~RM16.6 billion) last year.

And you wonder why everyone and their mother talks about super-apps these days. If anything, the pandemic has made them invaluable to our daily lives.

“2020 offered a harsh reason to reassess how technology can be harnessed to maintain vital function of the society,” said Dmitry Levit, a partner at Cento Ventures, told Bloomberg.

(Source: Bloomberg, Cento Ventures.)


window.fbAsyncInit = function()
FB.init(
appId : ‘662595307260383’,
autoLogAppEvents : true,
xfbml : true,
version : ‘v2.9’
);
FB.AppEvents.logPageView();
;

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “https://connect.facebook.net/en_US/sdk.js”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));
(function() document.getElementById(‘ufc-button-div’).style.display = ‘none’; document.getElementById(‘ufc-button’).style.display = ‘none’; function ufc_async_load() var element = document.getElementById(”).getBoundingClientRect();
if (document.getElementById(‘facebook-jssdk’)) return; if ( element.top < window.innerHeight ) (function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s);
js.id = id;
js.async = true;
js.src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&autoLogAppEvents=1&version=v7.0&appId=662595307260383";
fjs.parentNode.insertBefore(js, fjs);
(document, 'script', 'facebook-jssdk'));
; ;if (window.addEventListener)
window.addEventListener( 'scroll', ufc_async_load, false );
else if (window.attachEvent)
window.attachEvent( 'onscroll', ufc_async_load );
)();

This article was first published on this site.

I hope that you found the above informative. You can find similar content on our main site:
whatsonpenang.com

Let me have your feedback below in the comments section. Let us know which subjects we should write about for you in the future.

Filed Under: Blog Tagged With: Asia, hot real estate, Indonesia, Malaysia, tech startups, Thailand, Traveloka, United States, venture capital, vietnam

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Login/out

Username or Email Address

Lost your password?

Please enter your username or email address. You will receive a link to create a new password via email

Login
  • Home
  • About Us
  • Submit Guest Post
  • Submit Review
  • Submit Event
  • Contact Us

Categories

  • Advertising
  • Art
  • Bars & Pubs
  • Blog
  • Careers
  • Events
  • Food On Penang
  • Langkawi
  • Magazine
  • Motors
  • Movies
  • Music
  • Penang Hotels
  • Penang Images
  • Penang News
  • Penang Video
  • Property
  • Sport & Fitness
  • Theatre
  • Travel
  • Website Design
  • What's On Now
  • What's To See On Penang

Recent

  • Esplanade Penang is Now Filled With Beautiful Lighted Sculptures From All Over The World
  • Best Street Food in Penang | Traveloka Travel Guide
  • Goodyear Malaysia is giving away three Ativas this Hari Raya season!
  • The BEST Nasi Kandar in PENANG Malaysia? MAMAK Malaysian Street Food in Penang
  • You Can Now Check Vaccination Appointment Status Directly On JKJAV’s Website

Reviews

  • Bars & Pubs
  • Books
  • Fitness
  • Guest Houses
  • Hotel
  • Kids Entertainment
  • Movies
  • Music Event
  • Music-Album
  • Night Clubs
  • Places of Interest
  • Restaurants
  • Sports Clubs
  • Theatre
  • Travel

Copyright © 2021 · What\'s On Penang · Log in

  • Home
  • About Us
  • Submit Guest Post
  • Submit Review
  • Submit Event
  • Contact Us