SEA's Startup Game Strong: Profitability Boosted Amidst Funding Winter

By Editorial Team 13/11/2023
digital investment platform
Summary

  • e-Conomy SEA 2023 Report: The region exceeded expectations in fundraising, reaching US$101 billion and hitting the US$200 billion GMV milestone in 2022. However, funding has sharply declined this year, with only US$4 billion in total private funding in the first half, marking the lowest in six years.
  • Redseer Report: Startups' improved profitability signals a sizable pipeline of IPO-ready companies; Southeast Asia has 42 unicorns, with 19 reporting positive EBITDA.
  • Decacorn Race: Grab Holdings achieves a historic milestone of core profit in the third quarter, while GoTo Gojek Tokopedia successfully cuts net losses.
  • Next Growth Drivers: new sectors and digital financial services startups.

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