Startups in Southeast Asia raised US$371 million across 42 investment rounds between March 1 and 31 2024, according to research by startup intelligence platform Tracxn.
This number is 3.34 per cent higher than the total funding raised in the previous month but is 34 per cent lower than the capital secured in March last year.
With 22 deals, early-stage rounds formed the bulk of the investments in March, followed by seed-stage (17) and late-stage (3) rounds.
Also Read: Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn
Indonesian insurtech startup Qoala (US$47 million) raised the largest funding round in March 2024. The other top deals were PoS financing startup AwanTunai (US$27.5 million), and earned wage access platform Wagely (US$23 million).
With two deals each, Wavemaker Partners, Peak XV Partners, and Openspace Ventures led the VC investment space in March:
See the infographic for more details:
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