Startup Investments on Declining Trend

Summary

Although being considered as digital industry-magnet, investment in startups fell 41 percent from US$ 3.9 billion in 2018 to US$ 2.3 billion in 2019, Cento Ventures research shows.

The research also states that only two of all digital startups in Indonesia received significant funds in 2019, namely Traveloka at US$ 420 million and VNPay at US$ 300 million. Ruangguru, Kredivo, and Scommerce obtained lower values. Yet, funding for unicorns like Gojek has declined compared to 2018.

In contrast to Indonesia, startups in Vietnam and Thailand had their funding increased. The investment value for startups in Vietnam skyrocketed 158 percent from US$ 287 million in 2018 to US$ 741 million in 2019, while investment in Thailand increased 62 percent to US$ 135 million from US$ 78 million a year earlier.

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