The prospect of a second Trump presidency is creating ripples of uncertainty across the climate technology landscape. Known for motto like “Drill, baby, drill” or calling climate issues all part of a “hoax”, a Trump return to the White House could reshape clean energy funding worldwide, forcing investors, nations, and startups to adapt. The potential consequences extend well beyond US borders, impacting global geopolitics and climate innovation, particularly in Southeast Asia (SEA).

Here’s a closer look at what may lie ahead under Trump 2.0.

For SEA: One less partner and one less competitor

Southeast Asia’s clean energy initiatives could face major funding challenges if Trump follows through on promises to cut climate spending and focus on domestic industries. The US is currently a key partner in the Just Energy Transition Partnership (JETP) programs with Indonesia and Vietnam, designed to help these countries shift away from coal and adopt cleaner energy sources. However, a Trump presidency could see the US disengage from these efforts, part of what experts call a likely “repeat of rollbacks and repeals.”

Such a move could significantly reduce pledged funds. The US has committed US$2 billion of the US$20 billion pledged to Indonesia by wealthy nations and financiers, and US$1 billion of the US$15.5 billion allocated for Vietnam. A full withdrawal would leave these JETP programs struggling for resources—at a time when funds are already slow to materialise.

That said, an immediate shock is unlikely. The US government isn’t a major direct funder of Southeast Asia’s energy transition. According to Joshua Crabb, head of Asia-Pacific equities at Robeco, bilateral US funds for clean energy in the region totaled just US$41 million between 2018 and 2022—two per cent of total financing from wealthy nations during that period. By comparison, Germany provided US$1.4 billion, making it the top contributor. Much of the US contribution comes indirectly, through multilateral lenders.

Still, a second Trump presidency risks ceding US leadership in climate technology to China, a nation already expanding its influence in Southeast Asia’s energy sector. For Southeast Asian economies, which are grappling with both the impacts of climate change and shifting geopolitical dynamics, this presents a unique challenge and opportunity. Without strong US involvement, these countries will have fewer bidders for the best climate technologies. At the same time, it may push them to develop stronger regional momentum and attract investment from other global players to fill the gap.

On the demand side, it is clear that technologies that solve real and existing world issues, coupled with being cleaner for the planet will continue to grow strong. But whether Southeast Asia can seize this moment to advance its clean energy goals and thrive sustainably will depend on how effectively it navigates the shifting global landscape. Opportunity favours those who adapt.

Trump administration’s retreat may cede climate tech leadership to China

Trump’s first term included substantial efforts to undermine federal incentives for renewable energy. Paradoxically, the climate tech sector still advanced, driven largely by private investors stepping in where the government retreated.This time, however, the dynamics are more complex, as climate technology has increasingly become part of the geopolitical tech race between major powers. Key federal tax credits and grants that have nurtured innovations like carbon capture, green hydrogen, and electric vehicles (EVs) are at risk of severe cutbacks, compelling companies to recalibrate strategies.

Also Read: The intersection of tech and climate change: 5 key forces that will redefine the global market

In regards to clean technologies, since 2023, China has installed nearly 500 gigawatts of wind and solar capacity—equivalent to the combined capacity of France, Germany, and the UK. The country’s EV progress also has been nothing short of a miracle, EVs made up a remarkable 25 per cent of all passenger car sales in the country, far outpacing the one in seven (14 per cent) sold in the United States and the one in eight (12.5 per cent) in Europe. The sales momentum shows no signs of slowing. According to HSBC, EV adoption in the world’s second-largest economy is projected to soar to an impressive 90 per cent by 2030.

It’s not just consumers driving the EV surge—manufacturing is thriving as well. Chinese brands now account for nearly half of all EVs sold globally, solidifying their leadership in the industry. One of the nation’s EV “darling child” — BYD is rapidly expanding into Southeast Asia, planning to establish new assembly plants in Cambodia and Indonesia, adding to its existing facility in Rayong, Thailand. This expansion holds significant promise for the field of climate innovation for Southeast Asia, paving the way for advancements from novel battery materials to more efficient charging infrastructure.

Urgency of sustainable development in SEA

Southeast Asia must act urgently to ensure a sustainable future. The region faces significant energy security risks, relying on the Middle East for 60 per cent of its oil imports, which exposes it to geopolitical shocks like the war in Ukraine. In 2022, fossil fuel subsidies hit a record US$105 billion, and without change, annual oil import bills could soar to US$200 billion by 2050. Accelerating clean energy adoption could slash these costs to US$90 billion, making the shift essential.

The environmental stakes are high. In 2023, 85 per cent of the population endured air pollution levels above safe limits, leading to 300,000 premature deaths from outdoor pollution and 240,000 from indoor cooking fuels. Extreme weather, like record-breaking typhoons and flooding in 2024, is adding stress to communities and infrastructure.

Also Read: Will climate change force us to re-imagine travel in the future?

Despite these challenges, Southeast Asia has massive potential in clean energy. The sector has created 85,000 jobs since 2019 and is growing rapidly. The region leads in solar manufacturing, with Vietnam, Thailand, and Malaysia among the top producers outside China. Indonesia, a major player in EV batteries and global nickel supply, plans to expand its 16 GWh battery capacity to 40 GWh by 2030, fuelling the transition to electric vehicles.

Transportation emissions remain a challenge, but solutions are emerging. Biofuels meet 10 per cent of road energy demand, while EVs already make up 15 per cent of car sales in Vietnam and 10 per cent in Thailand. Expanding public transit and electrifying two/three-wheelers, which are common in the region, could make a huge difference.

Southeast Asia also needs cleaner industries to stay competitive. Technologies like bioenergy, hydrogen, and carbon capture offer solutions for sectors like nickel refining, while Singapore is leading efforts to decarbonise shipping. 

Put the technology where the problem is

In the end, the key for SEA is the application of technologies that tackle real-world problems. The solutions that truly make an impact are those that compete head-to-head with fossil-based options—offering cost parity, better unit economics, strong product-market fit, smart distribution strategies, or just being ahead of the curve.

It’s not enough for these technologies to simply “be green.” They need to deliver undeniable competitive advantages to existing solutions. Only then, they can be Trump-proofed, or even future-proofed for that matter.

This region has the tools and opportunities at its disposal. The moment to take action is now.

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fileAI, a startup specialising in horizontal file processing and AI workflow automation, has announced US$14 million in Series A funding.

This round, led by returning investors Illuminate Financial, Antler Elevate, Insignia, and Heinemann Group, brought the total funding to over US$20 million.

The newly acquired funds will boost product development and deepen the company’s expertise in AI file management.

fileAI positions itself as a crucial solution for enterprises aiming to significantly cut back-office expenses and enhance efficiency through the power of AI. Its technology addresses the challenge of managing unstructured data, which makes up 80-90 per cent of global content, with diverse formats like PDFs, spreadsheets, and emails, often in multiple languages.

Also Read: AI gold rush: How OpenAI’s Singapore expansion could reshape the startup ecosystem

The startup uses advanced predictive and generative AI, which allows for seamless text, image, and video processing, integrating with existing enterprise tools, which leads to reduced costs, greater productivity and improved data transparency.

In 2024, fileAI claims to have processed and automated workflows involving over 200 million pages and files, saving clients an estimated 420,000 hours and over US$7 million.

Its solutions are used across various industries, including financial services, insurance, accounting, and manufacturing. The platform can process files in over 200 languages, making it suitable for multinational companies.

The firm’s global client base includes MS&AD, Toshiba, KFC, DirectAsia, and Nippon.

fileAI is preparing to launch a new platform in Q1 designed for finance, operations, and legal teams. The platform uses proprietary file processing models to automate workflows for long-form documents, providing features such as document comparison, discrepancy detection, data validation, and compliance assurance.

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Singapore-based GOAT Gaming, a prominent platform for competitive and casual gaming on Telegram, has announced a strategic funding round of US$4 million.

The investment, with participation from TON Ventures, Karatage, Amber, and Bitscale, brings GOAT Gaming’s total funding to US$15 million.

This financial boost aims to accelerate the company’s vision of making Telegram the most accessible gateway to Web3, bringing a player-owned economy to the next billion users.

Also Read: Can free-to-play models ignite new player interest for Web3 gaming?

GOAT Gaming, born from the creators of Mighty Bear Games, is evolving interactive entertainment by adapting to new platforms such as Telegram. Since its launch on Telegram in August, the platform claims to have amassed 5 million active users, driven by the popularity of games such as Waifu Clash and Kitty Solitaire. Now, the focus is on unlocking AI-powered experiences within Telegram’s Mini Apps.

A key aspect of GOAT Gaming is its proprietary AI technology, refined since 2016, which enabled the company to launch 37 games in 2024. This technology is being shared with the community via AlphaGOATs, autonomous AI agents powered by a dataset of over 100 million gaming transactions. Starting on February 6th, AlphaGOATs will allow anyone to create, compete, and earn, paving the way for a new era of democratised gaming.

Simon Davis, CEO of GOAT Gaming, stated that Telegram is the most accessible gateway to Web3. The company intends to host hundreds of games and integrate numerous autonomous agents to deliver seamless, AI-driven gaming.

GOAT Gaming aims to launch over 50 games powered by AlphaAI by the end of 2025, alongside partnering with third-party studios.

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In 2023, Singapore saw a significant increase in online scam cases, with 46,563 reported incidents, marking the highest number since tracking began in 2016. This figure represents a 46.8 per cent increase from the previous year. In total, scam victims in Singapore lost US$651.8 million in 2023, a slight dip from the US$660.7 million lost to scammers in 2022.

Notably, malware scams emerged as a new concern, with 1,899 cases reported and SG$34.1 (US$25.1) million lost, highlighting the evolving tactics used by scammers. These figures underscore the ongoing challenge of combating scams in Singapore, with over SG$2.3 (US$1.7) billion lost to scams since 2019.

Why do people believe scammers?

There are five reasons people fall victim to scams:

Financial desperation

Financial desperation often becomes a significant factor because individuals are facing economic hardship or seeking quick financial solutions. Scammers capitalise on this desperation by presenting schemes that seem like a lifeline out of financial difficulty.

In Singapore, job scams topped the list of scam types, with 9,914 reported cases and losses totalling at least SG$135.7 ( US$100.1) million. E-commerce scams followed closely, experiencing a more than twofold increase in 2023 with 9,783 cases and losses amounting to at least SG$13.9 (US$10.3) million. Investment scams also featured prominently, with 4,030 cases and losses totalling SG$204 (US$151.5) million.

Trust in technology

The other reason individuals fall for scams is an implicit trust in technology. As we become increasingly reliant on digital platforms for communication, transactions, and information, scammers exploit this trust to their advantage. The belief that technology is inherently secure can lead individuals to overlook warning signs and engage in risky online behaviours.

The ubiquity of social media and online platforms creates an environment where individuals may be more willing to click on links, download files, or share personal information, inadvertently opening the door for scammers to exploit their trust.

Psychological manipulation

Scammers are adept at psychological manipulation, preying on basic human emotions such as fear, greed, and urgency. Whether through enticing offers, alarming messages, or fabricated scenarios, scammers create a sense of urgency that clouds individuals’ judgement. The desire for financial gain or fear of missing out often overrides rational thinking, making individuals more susceptible to falling for scams.

Also Read: Securing tomorrow’s finances: Navigating the rise of digital banks with cybersecurity

In the digital world, social engineering tactics play a pivotal role as scammers exploit personal relationships and glean information from social media to establish a false sense of trust. This tactic makes it challenging for even the most vigilant individuals to discern between genuine and fraudulent communications.

Lack of digital literacy

A significant contributor to falling victim to scams is the lack of digital literacy among users. As technology evolves, scammers continually develop sophisticated methods to deceive individuals. Those who are not well-versed in recognising online threats may inadvertently expose themselves to scams.

Educational initiatives on digital literacy are crucial to empowering individuals with the knowledge to identify red flags, distinguish authentic communications from scams, and protect their personal information online.

Sophistication of scams

Scams have evolved from simple phishing emails to highly sophisticated operations, including malware attacks and social engineering techniques. The increasing complexity of scams makes it challenging for individuals to stay ahead of the threat landscape. Scammers exploit vulnerabilities in software, manipulate trusted platforms, and adapt their tactics to stay one step ahead of security measures.

Why are scams bad for business?

Scams are detrimental to businesses for several reasons: 

Reputation damage

Involvement in or victimisation by scams can tarnish a company’s reputation. Scams erode trust and confidence in the business, damaging its reputation and credibility. When customers fall victim to scams associated with a particular business, they are likely to lose trust in its integrity and may avoid engaging with the business altogether in the future. This loss of trust can lead to a significant decline in customer loyalty and ultimately impact the business’s bottom line.

Financial loss

Scams often result in direct financial losses for businesses. Additionally, dealing with the aftermath of scams, such as addressing customer complaints, providing refunds, and implementing security measures, incurs financial costs and consumes valuable time and resources that could otherwise be allocated to growth and innovation. 

Legal consequences

Scams expose businesses to legal consequences, particularly when customer data is compromised. In such instances, businesses may encounter legal actions, regulatory fines, or other penalties. The association with fraudulent activities can result in legal repercussions and regulatory scrutiny, further damaging the company’s image and potentially leading to fines or legal actions. Consequently, scams pose a serious threat to businesses by undermining their reputation, financial stability, and legal standing.

How to avoid being scammed online?

Insufficient cybersecurity invites identity theft and financial losses as scams target both money and personal information. Vigilance is key – understanding their tactics and knowing how to respond is crucial for individual consumers, not just large corporations. Take proactive steps to protect yourself.

Stay informed and educated

Keep yourself updated on the latest scams and tactics employed by fraudsters. Stay informed through news articles, official announcements, and cybersecurity resources.

Verify information

Be cautious of unsolicited emails, messages, or phone calls. Verify the legitimacy of the communication by contacting the organisation directly using official contact information rather than using the contact details provided in the suspicious message.

Also Read: Navigating cybersecurity: Antivirus vs endpoint protection

Use strong passwords

Create strong, unique passwords for your online accounts, and avoid using the same password across multiple platforms. Consider using a reputable password manager to generate and store complex passwords securely.

Enable two-factor authentication (2FA)

Implement 2FA whenever possible. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your mobile device, in addition to your password.

Be sceptical of unsolicited requests

Be cautious when receiving unexpected requests for personal or financial information. Scammers often pose as reputable organisations seeking sensitive details. Verify the legitimacy of such requests independently.

Monitor bank and credit card statements

Regularly review your bank and credit card statements for any unauthorised transactions. Report any discrepancies to your financial institution promptly.

Use reputable antivirus software

Install and regularly update reputable antivirus and anti-malware software on your devices. This helps protect against malicious software that scammers may use to compromise your system.

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This article was first published on March 12, 2024

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The beginning of a new year brings a different of energy. There is hope, new resolutions, and the desire for things to be happier and better. There is a sense of willingness to change and improve – for the new year to be THE YEAR!

And for leaders, it’s also a crucial time to refocus and re-energise the team. Running FuturByte for the last few years has taught me that kicking off the year with the right mindset can make a big difference. Less conversations around what sucks and more around what is in the pipeline.

But, before setting new goals, take a moment to acknowledge what is already accomplished and it doesn’t have to be big wins. Too often, we race ahead without celebrating the milestones we have hit.

Pause to reflect on everything that went right, despite the challenges. All the stuff your people achieved even when things weren’t always Sunday-like. It is important to make people feel seen, which encourages them to continue their efforts.

And please set meaningful goals that add value to their personal and professional growth – not just to your business. Empty metrics or vague aspirations can leave people feeling uninspired. Instead, align your goals with a vision that excites your team.

Encourage your team to set their own professional goals too. When people understand how their contributions contribute to a larger vision, they feel more motivated and engaged.

Also Read: Will machines start taking over our lives? Here are digital technologies that will change our world by 2025

Create a culture of open and honest communication. Regular one-on-one meetings, team huddles, and informal catchups are essential for building trust and ensuring everyone feels heard.

Also, professional development is one of the best morale boosters out there. When people know that they are learning and growing, they are naturally more engaged. This year, we are thinking introducing new learning opportunities at FuturByte.

We want to help our team up-skill in areas they are passionate about. Growth is a two-way street, after all.

Burnout is a real challenge, especially as teams strive to meet ambitious goals. As leaders, it’s our job to ensure that well-being is never overlooked. Let’s encourage our teams to take breaks, unplug after work hours, and maintain a healthy work-life balance.

Work can get stressful. Find ways to inject fun into the workplace. Celebrate birthdays, project milestones, and even the end of a challenging week. These small moments of joy contribute significantly to a positive and supportive team culture.

As a leader, your energy is contagious. Approach the new year with optimism and enthusiasm. Be transparent about challenges but focus on the opportunities ahead.

Let’s make this year one to remember – a year filled with growth, collaboration, and countless reasons to celebrate!

Cheers to 2025!

—

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Lever VC, a global alternative protein venture capital fund based in Hong Kong, has announced the first close of its Fund II, securing an initial US$50 million.

Fund II will invest in early-stage companies within the global food and agritech sector.

This news comes with the announcement of the fund’s first five investments into innovative tech startups across North America, Europe, and Asia. The fund remains open to new investors until its final closing later in the year.

Building on the success of its US$80 million Fund I, Lever VC’s Fund II has attracted a diverse group of limited partners (LPs), including institutional investors, funds of funds, family offices, and leading food and agriculture companies from five continents.

Also Read: Lever VC makes first close of its Fund 1 at US$23M; targets final close at US$50M

Lever VC was founded by Nick Cooney and Lawrence Chu (Partner), who have been investing in the alternative protein sector since 2015. They were also investors in Beyond Meat, Impossible Foods, Memphis Meats, JUST, Aleph Farms, and Kite Hill.

Lever invests in early-stage plant-based and cell-cultivated meat and dairy companies. Its average ticket size for initial investments in portfolio companies is around US$500,000.

The firm is an investor in Singapore-based TurtleTree Labs and Hong Kong-based Avant.

“With their massive category sizes, compelling CAGR, and consistently strong exit environments, food and agritech represent areas of significant opportunity for those with the right expertise,” stated Cooney. “We look forward to working to continue driving outsized returns for our investors, as well as to bringing direct deals, insights, and business development opportunities to LPs with strategic goals in the sector.”

The Fund II has already made its first five investments, supporting companies like novel fats producer Gavan, novel sugar replacement developer Oobli, agritech software/digitisation players Flox AI and HerdDogg, and meat replacement ingredient producer Mush Foods.

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Reliable IT infrastructure is an indispensable part of a modern business. However, what’s sufficient today may not be tomorrow, and far too many startups fail to plan appropriately for that scenario. As you start to piece together your company, you must ensure your IT infrastructure is scalable.

Why your startup needs scalable IT

It’s important to foster scalability from the beginning because scaling up without prior planning is often harder than leaders expect. Tech quickly becomes outdated in today’s environment, but IT hardware and software licenses are expensive. As a result, 50 per cent of thought leaders in Southeast Asia say high infrastructure costs and legacy technology are a digital future’s most significant obstacles.

Your business must be able to capitalise on the latest technological solutions. Failing to keep up with fast-moving developments like artificial intelligence (AI) will limit your ability to remain competitive. Competition aside, you’ll need higher capacity as your company and its customer base grow.

Modernisation is essential, but replacing legacy systems every few years without extensive planning isn’t financially or operationally viable. The only way to manage these seemingly competing interests is to build a scalable solution from the start.

How to build a scalable IT infrastructure

Scalable IT can be challenging, but it’s easier when you implement some best practices while your business is still young. Here are five steps to follow to ensure long-term scalability.

• Embrace the cloud

The most crucial aspect of scalable IT infrastructure is moving to the cloud. On-premise hardware — especially servers and storage — is too expensive and time-consuming to install and maintain to be scalable. Cloud-native services, by contrast, naturally grow with you, and their costs typically reflect what you actually use.

Bear in mind that not all clouds are created equal. All vendors must have a strong record of upkeep and robust security. Look for the option to choose where your data centres are located, too, for regulatory purposes. Remember to use cloud-native software solutions once you switch to such environments.

Also Read: The future of education is AI: Here’s how it will look

Organisations with data of varying sensitivity or disparate use cases may consider a hybrid cloud. These setups offer a balance between on-premise privacy and cloud scalability, and data breach costs are significantly lower in hybrid clouds.

• Capitalise on modularity

The cloud provides the baseline for scalable IT, but your business must be able to take advantage of its flexible nature. Modularity is the key here. Breaking things down into smaller pieces you can work on independently without disrupting the whole will make it easier to expand as necessary in the future. 

Containerisation and micro-services architecture are helpful ways to make any in-house software modular. Splitting departments into smaller, focused groups — while maintaining communication between separate teams — will bring similar characteristics to your workflow itself. Across all IT considerations, look to remove dependencies so you can expand in one area without needing changes in another.

• Automate routine tasks

Scalable IT infrastructure requires quick reactions to necessary changes. While modular technology is part of this, your workforce must also be able to adapt. IT professionals will also need to take on additional work as your company grows, and new hires aren’t always an option. Automation is the solution.

Automating routine tasks increases uptime and reliability by minimising human error while freeing workers to focus on other work. Anything particularly monotonous or data-heavy is a good candidate for automation. Common use cases include data entry, reporting, backup management and network monitoring.

Modern AI can even streamline basic coding and manage load balancing to prevent service interruptions as you grow. You must keep an eye on such technologies to ensure they work properly and you can fix any errors, but ignoring them entirely will limit your scalability.

• Maximise visibility

As you adjust and expand your IT infrastructure, keep thorough records of everything. Future growth will be difficult if you don’t have the whole picture of your current IT environment. By contrast, vendor lock-in, incompatibility and similar challenges are less likely with full visibility.

Far too many IT setups lack transparency. A worrying 47 per cent of cloud adopters say poor visibility over where their data is presents a key management challenge. You can avoid similar situations by keeping a running inventory of all data locations, assets and devices. Use automated discovery and network mapping tools to maintain real-time transparency in your environment.

Also Read: 5 essential organisational steps for your startup’s tech infrastructure

• Ensure scalable security

Scalability must not come at the expense of cybersecurity, either. Cybercrime is rising, and fast-growing systems are prime targets. Consequently, 47 per cent of tech executives expect cloud-based pathways to pose their biggest risks, and 46 per cent say the same about web-based applications.

The key to a secure cloud is cloud-native security. When your cybersecurity solution is designed specifically for cloud environments, it will do a better job of scaling up as your IT infrastructure does.

Access restrictions and workflow considerations also demand attention. Implement the principle of least privilege and regularly re-train employees in best security practices as new threats emerge to keep your systems hardened against cybercrime.

Scalable IT enables better long-term growth

A scalable IT setup is indispensable in today’s business environment. You cannot grow and compete alongside the rest of the industry without rapid, safe and cost-effective expansion of your technology infrastructure.

While this need may seem challenging, it’s more than achievable if you begin now. Follow these steps today to ensure scalability and success tomorrow.

—

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Southeast Asia’s (SEA) healthtech and life sciences startup ecosystem is experiencing a significant funding downturn, with 2024 marking the lowest funding year in the past seven years, says a Tracxn report.

Despite a robust ecosystem of over 3,600 companies, only 322 have received funding to date.

Total funding for SEA healthtech and life sciences startups reached a low of US$123 million in 2024, a drastic 79 per cent drop from US$599 million in 2023, and a staggering 90 per cent decrease from US$1.1 billion in 2022.

Singapore dominated the region, accounting for 75 per cent of the funds raised with investments worth US$92 million in 2024. This funding contraction reflects a broader trend across Asia, which saw an 11 per cent drop in funding compared to the previous year.

Also Read: Rise of the machines: 20 robotics startups shaping Southeast Asia’s future

Several factors contributed to this decline, including macroeconomic uncertainties and geopolitical tensions, which have made investors more cautious.

Late-stage funding experienced an 87 per cent decrease, with only US$28.9 million raised in 2024, down from US$224 million in 2023. Early-stage funding also saw a steep decline, reaching US$77.6 million, a 77 per cent decrease compared to the US$339 million secured in 2023. Seed-stage funding was also affected, with total funding in 2024 at US$15.9 million, down 56 per cent from US$35.8 million in the previous year.

The second quarter of 2024 was the highest-funded quarter of 2024, raising US$41.2 million, a 63 per cent decrease from the US$109.8 million secured in the same quarter in 2023.

The first half of 2024 accounted for 57 per cent of the total funding in the sector.

HealthifyMe, a fitness and wellness platform, secured US$20 million in a Series C round, becoming the highest-funded company. Biobot Surgical, a developer of surgical automation devices, raised US$17.9 million in a Series B round.

Unlike previous years, 2024 did not witness any US$100 million-plus funding rounds.

Among the top-funded segments, employee health IT received US$26.5 million in funding, while the neurology sector saw total funding of US$22.7 million, a significant development as it had not recorded any funding in 2023. The fitness & wellness tech segment secured US$20 million, representing a 293 per cent increase compared to the US$5.1 million raised in 2022.

IPO activity also declined, with only two recorded in 2024, a 33 per cent decrease from the three in 2023. However, acquisition activity saw an upward move, with eight acquisitions in 2024, double the number in 2023.

Also Read: From fintech to IoT: Southeast Asia’s standout startups with the largest funding rounds in 2024

Despite the funding downturn, the healthtech and life sciences sector is still considered to have good potential, driven by digitalisation and evolving consumer needs. Initiatives like the MedTech Innovator Asia Pacific Accelerator Program continue to support startups. The sector’s focus on technological advancements and healthcare transformation suggests promising long-term prospects.

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Key points

• Global markets remain uncertain, with the tech sector driving volatility
• Korean tech giants SK Hynix and Samsung saw declines, impacting Asian equities
• Holiday closures in China, Hong Kong, and Taiwan added to market anticipation
• AI-linked tech stocks faced a sell-off, shifting investor sentiment
• Tariff threats from Trump against Mexico and Canada heightened trade tensions
• US markets showed resilience, with the MSCI index rising slightly
• Gold prices neared US$2,800 per ounce, signalling investor caution
• Crypto markets saw regulatory shifts, including Thai finance reforms and Kraken’s return to staking
• Concerns over a potential crypto bubble persist amid policy changes
• Speculation grows around central banks buying Bitcoin under Trump’s policies

The air of uncertainty that has been lingering over global markets was palpable today, as the tech sector in the United States added to the tension. It’s clear that the performance of major tech firms can sway the market’s mood, and with Korean tech giants like SK Hynix and Samsung Electronics taking a hit as their markets reopened after the Lunar New Year, the ripple effects were felt across Asian equities. It’s like watching dominos fall; one market’s performance can echo through others, especially when tech behemoths are involved.

Meanwhile, the holiday closure in China, Hong Kong, and Taiwan added another layer of quietness to an already cautious market. This pause, while expected, left investors in a state of anticipation, wondering how the return of these markets might alter the current landscape.

The tech earnings season is under a microscope, especially after the dramatic sell-off in shares linked to artificial intelligence. It’s a stark reminder of how quickly investor sentiment can shift from optimism to skepticism. When we delve into these earnings, we’re not just looking at numbers; we’re reading the tea leaves of future innovation, market demand, and the viability of new tech frontiers.

And then there’s the geopolitical chess game with Trump’s tariff threats against Mexico and Canada, which not only impacted their currencies but also sent a shiver through global trade relations. This isn’t just about tariffs; it’s about the broader implications for international cooperation, trade agreements, and the global supply chain that tech relies on.

Also Read: What startup should I start based on market trends in 2025?

On the US market front, it has showed resilience, with the MSCI index inching up, led by the utilities sector. This movement might seem minor, but in the context of recent volatility, it’s a signal of stability, or at least, a search for it. The slight dip in Treasury yields might be a whisper of investors seeking safety, or perhaps a recalibration in expectations about future economic growth. In a way, it’s like watching the tide; the subtle shifts can tell you a lot about the coming storms or calm.

Gold’s persistent climb towards US$2,800 per ounce speaks volumes about where investors are parking their money amidst these uncertainties. Even Brent crude held steady, though the spectre of tariffs on major oil suppliers like Canada and Mexico casts a shadow over future price movements. It’s a delicate balance, where energy prices could either fuel recovery or fan the flames of inflation.

Turning my gaze to the digital realm, the crypto space is buzzing with developments. I see Barry Silbert’s Digital Currency Group diving into crypto mining, signalling a deepening commitment to this volatile yet promising sector. This isn’t just about mining; it’s about staking a claim in the future of money. The Thai finance minister’s proposal for a single license for securities and crypto trading could be a game-changer, potentially smoothing the path for more integrated financial systems. It’s an acknowledgment that the lines between traditional finance and digital assets are blurring, necessitating new frameworks of regulation and understanding.

However, the warnings from hedge fund Elliott about a crypto bubble inflated by policy missteps are concerning; it’s a reminder of the fragility inherent in this market. The narrative around cryptocurrencies oscillates between innovation and speculation, and the fine line between the two can mean the difference between boom or bust. Kraken’s return to staking in the US post-SEC tussle is a testament to the sector’s resilience and adaptability to regulatory pressures. It’s like watching a phoenix rise from the ashes, showing that even under scrutiny, the crypto market finds ways to thrive and adapt.

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And then there’s the intriguing speculation about central banks potentially buying Bitcoin under Trump’s crypto policies—a scenario that could redefine the relationship between traditional finance and digital currencies. This isn’t just about Bitcoin; it’s about the acknowledgment that cryptocurrencies could play a role in monetary policy, liquidity, or even as a hedge against traditional financial crises. Fed Chair Powell’s cautious endorsement of banks serving crypto clients with proper risk management further underscores the mainstreaming of cryptocurrency, albeit with a careful eye on stability.

From my perspective, we’re standing at a crossroads where traditional economics meets the digital frontier. The markets are a complex dance of policy, technology, and human behaviour, and today’s movements are just steps in that ongoing dance. For investors, this environment demands not just vigilance but also an openness to adapt to the rapidly evolving landscape where digital assets might just be the next big asset class. It’s clear that understanding and navigating these intersections will be key to not just surviving but thriving in this era of financial transformation.

The world of finance is becoming an intricate tapestry where every thread—be it tech stocks, geopolitical maneuvers, or the rise of digital currencies—interweaves to create a picture of both risk and opportunity. Today’s market movements are not just about today but are harbingers of the financial paradigms we’re moving towards. As we navigate this terrain, the ability to read, adapt, and anticipate will define the winners and losers in this new economic reality.

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