The Indonesian startup sector witnessed a 36 per cent funding decline in Q1 2024 (until March 15, 2024), reveals a Tracxn report. Startups within the archipelago raised US$91.7 million this quarter in comparison with US$143 million in Q1 2023 and US$440 million in This autumn 2023.
Additionally Learn: Sharp decline in late-stage offers hits Q1 funding in SEA: Report
In Q1 2024, late-stage investments noticed essentially the most important drop (99 per cent), which stood at US$5.2 million in Q1 2024 v/s US$381 million in This autumn 2023 and US$25.3 million in Q1 2023.
Alternatively, early-stage funding grew 26 per cent to US$74 million in Q1 2024 from $58.9 million in This autumn 2023. Nevertheless, early-stage investments dropped 30 per cent from Q1 final yr.
Seed-stage funding additionally grew 7 per cent to US$12.5 million in Q1 2024 from US$11.7 million raised in Q1 2023.
There have been no seed-stage rounds recorded in This autumn 2023.
Fintech (US$55 million), enterprise functions (US$28.8 million), and actual property & development tech (US$15 million) had been the highest-performing sectors.
When it comes to exits, solely two acquisitions came about in Q1 2024; Topindoku went public in the course of the quarter.
Additionally Learn: Startup investments in Vietnam see 39% drop in Q1: Report
East Ventures, AC Ventures, and Alpha JWC Ventures are essentially the most energetic buyers in Indonesia. Antler, BRI Ventures and 500 International had been the highest buyers in seed-stage rounds in Q1 2024, whereas Peak XV Companions, Shunwei Capital, and Openspace Ventures had been essentially the most energetic buyers in early-stage rounds.
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