Southeast Asian technology startups defied the pandemic and attracted a similar level of investments in 2020 as the year before, outperforming most other emerging markets.
The region’s tech upstarts raised $8.2 billion, down 3.5% from 2019, research from Cento Ventures showed. That compares with a 31% drop in India and 38% in Africa, according to the Singapore-based venture-capital firm.
The region of about 650 million people is moving online fast, with countries such as Indonesia, Thailand and Vietnam embracing e-commerce, fintech and transportation apps. Still, Southeast Asia trailed the U.S. and the European Union, whose tech startups drew record investments last year and grew 13% and 15%, respectively, Cento said. Startups in China attracted 6% more funding than the year before.
“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, an early-stage investor which has backed startups including 2C2P, iPrice Group and Pomelo. “Investments into digital transformation of retail, food, financial services and logistics surged accordingly, and we’ll see more industries react similarly in 2021 and 2022.”
Almost half of the funds raised went into unicorns including Grab Holdings Inc., Gojek, Bukalapak.com and Traveloka. Deals of more than $100 million accounted for 57% of the total investments, while those between $50 million and $100 million rose to a record $1.1 billion, up 26% from a year ago.
Indonesian startups clinched 70% of the capital invested in Southeast Asia, with Indonesian and Singaporean startups together accounting for 64% of the total number of deals, the report showed. Despite getting less funding, more unicorns are added to the list in the region. In total, there are 17 unicorns in Southeast Asia, with Singapore dominating the number of valuation, and Indonesia trails behind.
(From various sources)
I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to
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understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia.
I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine.
I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan"
I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy
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