Southeast Asia tech startups ride out 2020, raising US$8.2bil

Jakarta-based Advotics, which develops supply chain management software is an example of successful startup companies in Indonesia. - Courtesy of Advotics/JP

SINGAPORE (Bloomberg): 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 startups raised US$8.2 billion, down 3.5 per cent from 2019, research from Cento Ventures showed. That compares with a 31 per cent drop in India and 38 per cent in Africa, according to the Singapore-based venture-capital firm.