Between January 2020 and mid-2026, the Southeast Asian technology ecosystem underwent a profound transformation. What began as a high-flying venture boom turned into an unprecedented “funding winter.” Tracxn data reveals that a total of 7,538 tech startups across the region deadpooled, driven by high global interest rates, macroeconomic friction, and shifting investor demands toward path-to-profitability.
While peak closures occurred during 2021 (2,260 shutdowns) and 2022 (2,059 shutdowns), attrition persisted through 2023 (1,121), rebounded in 2024 (1,378), and claimed another 308 ventures in 2025.
Also Read: From shutdown to surge: How macro relief is lifting crypto and equities
Below is a detailed retrospective examining 76 notable Southeast Asian startups that ceased operations between 2020 and 2026, complete with their business descriptions, latest funding amounts, and final fundraising dates.
E-commerce, fashion & quick-commerce
- Sorabel
- Description: Indonesian fashion e-commerce platform offering a signature “try-first-pay-later” model, delivering affordable, trend-driven proprietary apparel directly to women across tier-2 and tier-3 Indonesian cities.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Aug 27, 2019
- Fabelio
- Description: Indonesian online furniture and home decor e-commerce brand that combined an online storefront with physical experience centers to design and sell custom, locally manufactured furniture.
- Latest Funded Amount: US$9M
- Latest Funded Date: Jun 17, 2020
- Dropezy
- Description: Indonesian quick-commerce startup that operated a network of dark stores delivering groceries, household essentials, and fresh produce to urban consumers in under 20 minutes.
- Latest Funded Amount: US$2.5M
- Latest Funded Date: Sep 23, 2021
- Shox Fashion
- Description: Indonesian social commerce platform empowering community resellers in rural and non-tier-1 regions to aggregate demand and sell affordable apparel via WhatsApp and social channels.
- Latest Funded Amount: US$5.5M
- Latest Funded Date: Apr 18, 2022
- BlinQ
- Description: Singaporean luxury fashion-tech platform utilizing augmented reality and virtual try-on software to allow shoppers to preview and purchase high-end apparel and designer accessories online.
- Latest Funded Amount: US$2.0M
- Latest Funded Date: Mar 01, 2019
- MadThread
- Description: Singapore-based luxury fashion rental subscription platform providing women with unlimited monthly access to designer dresses, workwear, and occasion outfits through a circular wardrobe app.
- Latest Funded Amount: US$500.0K
- Latest Funded Date: Jul 24, 2019
- The Shonet
- Description: Indonesian social commerce and beauty recommendation community where content creators and consumers shared peer reviews, style advice, and directly purchased curated lifestyle products.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Mar 05, 2019
- WOWBID
- Description: Indonesian interactive live-streaming auction marketplace enabling merchants and brands to host real-time video bidding events and sell electronics, apparel, and collectibles directly to viewers.
- Latest Funded Amount: US$5.0M
- Latest Funded Date: Apr 25, 2019
- PriceArea.com
- Description: Pioneer Indonesian shopping search engine and price comparison portal that aggregated product listings across major online merchants to help consumers find the best deals online.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jun 17, 2012
- Kotoko
- Description: Indonesian retail-as-a-service pop-up platform enabling online direct-to-consumer digital brands to test physical storefronts, offline retail distribution, and interactive customer touchpoints.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jan 09, 2020
- Kasosio
- Description: Regional social commerce platform enabling micro-influencers and small merchants to launch social storefronts, curate product catalogs, and earn sales commissions across social media channels.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Dec 2020
Also Read: ‘Companies shut down not because of crises but only when founders give up’: Joseph Phua of M17
Proptech, co-working & co-living
- Propzy
- Description: Vietnamese proptech platform providing end-to-end real estate marketplace services, offline transaction hubs, digital mortgage financing, and property management tools for buyers and sellers.
- Latest Funded Amount: US$25.0M
- Latest Funded Date: Jun 09, 2020
- CoHive
- Description: One of Indonesia’s largest co-working space operators, providing shared office spaces, private desks, flexible corporate suites, and community events across major Indonesian urban centers.
- Latest Funded Amount: US$13.5M
- Latest Funded Date: Jun 19, 2019
- Oxfordcaps
- Description: Singapore-headquartered student housing technology startup that operated standardized, tech-enabled coliving residences and dormitories for university students across India and Southeast Asia.
- Latest Funded Amount: US$994.5K
- Latest Funded Date: May 29, 2020
- YourRent
- Description: Regional proptech startup providing landlords and property managers with digital tenant screening, automated lease agreement execution, maintenance tracking, and online rent collection software.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jul 16, 2020
Logistics, supply chain & transport
- Ritase
- Description: Indonesian B2B digital freight logistics platform connecting commercial shippers with trucking transporters through automated load matching, real-time GPS tracking, and electronic proof-of-delivery software.
- Latest Funded Amount: US$8.5M
- Latest Funded Date: May 03, 2019
- CarPal
- Description: Singapore-based on-demand urban logistics platform that utilized crowd-sourced drivers to provide same-day courier services, express parcel delivery, and localized distribution for businesses.
- Latest Funded Amount: US$2.8M
- Latest Funded Date: Apr 26, 2017
- Catchthatbus
- Description: Malaysian online travel booking platform enabling passengers to search, compare schedules, and purchase intercity bus and coach tickets across Malaysia and Singapore.
- Latest Funded Amount: US$1.5M
- Latest Funded Date: Aug 31, 2015
- DedaaBox
- Description: Myanmar parcel delivery startup that deployed automated smart parcel lockers across residential and commercial buildings to streamline last-mile e-commerce package pickups.
- Latest Funded Amount: US$550.0K
- Latest Funded Date: Dec 03, 2017
- Hello Cabs
- Description: Early Myanmar ride-hailing and taxi dispatch network providing urban passengers with phone hotline and mobile app bookings for metered taxi transport.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Apr 24, 2017
Fintech, crypto, Web3 & insurtech
- Cabital
- Description: Singapore crypto wealth management platform that allowed retail and institutional users to buy, sell, transfer, and earn high-yield interest on digital assets and stablecoins.
- Latest Funded Amount: US$4.0M
- Latest Funded Date: Sep 03, 2021
- Toast Me
- Description: Singaporean mobile payments and fintech platform offering integrated point-of-sale solutions, peer-to-peer money transfers, and digital merchant loyalty programs for retail stores and restaurants.
- Latest Funded Amount: US$1.5M
- Latest Funded Date: Nov 10, 2016
- SALPay
- Description: Philippine fintech and payroll management platform connecting cloud HR software with employee prepaid debit cards to automate wage disbursements and offer micro-financial services.
- Latest Funded Amount: US$7.1M
- Latest Funded Date: Dec 28, 2017
- Halofina
- Description: Indonesian robo-advisory and personal wealthtech startup helping young professionals set financial goals, track personal budgets, and invest automatically in regulated mutual fund portfolios.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Nov 29, 2019
- AgenKAN
- Description: Indonesian micro-fintech platform empowering neighborhood mom-and-pop grocery stores (warungs) to sell financial products, process bill payments, and distribute digital micro-loans.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jun 16, 2020
- Pax Credit
- Description: Singapore cross-border fintech startup offering international students transparent currency exchange, overseas tuition payment transfers, and digital student bank accounts worldwide.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jan 24, 2021
- AlgoBlocks
- Description: Singaporean DeFi aggregator platform enabling Web3 users to discover, build, and execute complex multi-step decentralized finance investment strategies using a visual drag-and-drop workflow.
- Latest Funded Amount: US$1.9M
- Latest Funded Date: Apr 16, 2022
- Qarbon
- Description: Web3 sustainability protocol developing decentralized carbon offset verification software and tokenized environmental asset management tools for global corporate ESG compliance.
- Latest Funded Amount: US$5.5M
- Latest Funded Date: Jun 10, 2023
- UexGlobal
- Description: Singapore insurtech startup offering a paperless, digital health insurance platform that provided customizable international medical policies for expatriates, remote workers, and SMEs.
- Latest Funded Amount: US$983.4K
- Latest Funded Date: Feb 23, 2018
- Seed Token
- Description: Blockchain infrastructure project developing decentralized protocols for tracking clean energy generation, verifying carbon reductions, and trading renewable energy certificates transparently.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Mar 28, 2018
Also Read: Indonesian e-commerce platform Sorabel to shut down by end-July
Enterprise SaaS, AI & deeptech
- Taiger
- Description: Singaporean artificial intelligence software company providing natural language processing and automated document extraction technology to streamline complex operations for banking and government clients.
- Latest Funded Amount: US$25.0M
- Latest Funded Date: Jul 09, 2019
- FireVisor
- Description: Singaporean industrial AI startup offering automated computer vision and predictive analytics software to detect product manufacturing defects in real time for semiconductor and solar factories.
- Latest Funded Amount: US$739.7K
- Latest Funded Date: Mar 19, 2019
- Braiven
- Description: Enterprise AI and operational decision intelligence software firm providing predictive analytics, workflow automation, and supply chain optimization tools for heavy industry and logistics operators.
- Latest Funded Amount: US$3.7M
- Latest Funded Date: May 27, 2019
- Bonza
- Description: Indonesian no-code big data analytics platform that helped enterprises ingest large data streams, build custom machine learning models, and generate real-time operational BI dashboards.
- Latest Funded Amount: US$2.0M
- Latest Funded Date: May 06, 2021
- Omnilytics
- Description: Malaysian fashion market intelligence platform offering fashion retailers real-time competitive pricing analysis, assortment benchmarks, and inventory trends across global e-commerce channels.
- Latest Funded Amount: US$1.1M
- Latest Funded Date: Sep 22, 2020
- Botbot
- Description: Singapore enterprise conversational AI startup building automated chatbots to optimize internal corporate workflows, HR employee onboarding, and customer support across enterprise chat channels.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Oct 22, 2018
- Peoplewave
- Description: Singapore HR technology startup providing data-driven performance management software, continuous feedback tools, and automated employee onboarding analytics for mid-sized corporate enterprises.
- Latest Funded Amount: US$500.0K
- Latest Funded Date: Nov 10, 2017
- Synchronous
- Description: AI productivity platform offering remote teams automated workflow synchronization, intelligent task extraction, and cross-platform communication summaries for distributed workforces.
- Latest Funded Amount: US$55.0K
- Latest Funded Date: Jan 23, 2019
- IsItUp.com
- Description: Malaysian cloud asset management SaaS platform enabling businesses to catalog, audit, track maintenance schedules, and manage physical equipment and office hardware assets.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Nov 14, 2016
- Nook
- Description: Virtual workplace SaaS platform that allowed remote and hybrid teams to create customizable digital offices, audio rooms, and collaborative screen-sharing spaces for spontaneous team meetings.
- Latest Funded Amount: US$125.0K
- Latest Funded Date: Jun 13, 2023
- koinearth
- Description: Blockchain and AI enterprise software firm specializing in digital supply chain provenance tracking, asset tokenization, and secure cross-company data sharing protocols.
- Latest Funded Amount: US$1.8M
- Latest Funded Date: Mar 05, 2021
- NIS Solution
- Description: Regional enterprise technology services provider offering specialized custom software engineering, system integration, cloud deployment, and cybersecurity management for corporate clients.
- Latest Funded Amount: US$29.3K
- Latest Funded Date: Jan 26, 2017
Media, entertainment, gaming & audio
- Migo
- Description: Content delivery network utilizing micro-server hardware in local corner stores across Indonesia and the Philippines to let low-income consumers download digital video and educational content data-free.
- Latest Funded Amount: US$20.0M
- Latest Funded Date: Feb 10, 2023
- PicMix
- Description: Indonesian photo-sharing mobile social platform allowing millions of users to apply artistic filters, share photo collages, interact in interest groups, and participate in brand contests.
- Latest Funded Amount: US$3.0M
- Latest Funded Date: Apr 12, 2016
- Nooble
- Description: Singaporean audio social platform enabling content creators and casual users to record short-form voice notes, host micro-podcasts, and hold asynchronous voice discussions around trending topics.
- Latest Funded Amount: US$144.1K
- Latest Funded Date: Aug 16, 2021
- Momolay
- Description: Myanmar digital media portal and entertainment news app delivering localized pop-culture news, celebrity gossip, viral articles, and lifestyle content to mobile readers.
- Latest Funded Amount: US$200.0K
- Latest Funded Date: Oct 27, 2015
- Chate Sat
- Description: Myanmar digital freelance portal matching local enterprises and agencies with vetted freelance graphic designers, content writers, translators, and web developers.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Oct 03, 2018
- HaloHola
- Description: Indonesian transit entertainment network that installed localized Wi-Fi servers on buses, trains, and planes to stream free movies, music, and games to passengers without mobile internet.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: 2017
- UpNext
- Description: Web3 digital curation platform helping creators and web users aggregate digital links, monetize content streams, organize NFT collections, and engage audience communities.
- Latest Funded Amount: US$150.0K
- Latest Funded Date: May 05, 2022
- i Digital Connect
- Description: Thai online gaming platform and digital game publisher distributing massively multiplayer online games (MMORPGs) and localized gaming content across Thailand and Southeast Asia.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Oct 12, 2016
- Playy.World
- Description: Regional esports social hub enabling mobile gamers to host community tournaments, track player rankings, compete on leaderboards, and win digital gaming rewards.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Jan 08, 2020
- Allwoman
- Description: Malaysian digital lifestyle platform and online publisher creating empowerment content, wellness guides, career advice, and community events tailored for modern women.
- Latest Funded Amount: US$100.0K
- Latest Funded Date: Jan 10, 2019
- Trustory
- Description: Malaysian collaborative debate platform designed to combat online fake news by encouraging users to verify digital claims, cite evidence, and debate news stories.
- Latest Funded Amount: US$3.0M
- Latest Funded Date: May 24, 2018
Also Read: High-profile startup failures in Southeast Asia: What went wrong?
Edutech, healthtech & cleantech
- Taamkru
- Description: Thai gamified edtech platform providing interactive preschool learning apps, developmental tracking, and competitive testing benchmarks for young children and parents across Southeast Asia.
- Latest Funded Amount: US$620.0K
- Latest Funded Date: Jul 30, 2014
- EduReviews
- Description: Malaysian educational review directory allowing parents and students to search, evaluate ratings, and compare private schools, enrichment centers, and tuition courses.
- Latest Funded Amount: US$266.2K
- Latest Funded Date: Feb 25, 2021
- Impact Terra
- Description: Myanmar agritech social enterprise operating a mobile app for smallholder farmers, delivering localized weather alerts, crop disease management tips, and agricultural market price data.
- Latest Funded Amount: US$2.3M
- Latest Funded Date: Mar 19, 2018
- EcoWorth Tech
- Description: Singapore cleantech company utilizing proprietary carbon fiber aerogel technology to convert industrial wastewater into reusable clean water while recovering valuable organic liquids.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: May 25, 2022
- NephTech
- Description: Singapore MedTech startup developing non-invasive vascular access surveillance devices to help hemodialysis centers monitor blood vessel health in end-stage kidney failure patients.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Mar 19, 2020
- Pesan Lab
- Description: Indonesian healthtech platform providing on-demand home medical lab testing, permitting patients to book clinical blood tests and health checks delivered by visiting phlebotomists.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: 2017
- Thinkphi
- Description: Sustainable clean-tech hardware startup engineering umbrella-like structures designed to harvest rainwater, generate solar power, and provide shaded green spaces for urban environments.
- Latest Funded Amount: US$549.3K
- Latest Funded Date: May 15, 2018
- Tera
- Description: Singapore advanced materials manufacturer producing eco-friendly, ultra-high-barrier protective films and biodegradable barrier packaging for electronics, solar panels, and food preservation.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Aug 24, 2009
- Exora
- Description: Philippine digital energy marketplace connecting commercial and industrial power buyers with renewable energy suppliers to facilitate open-market electricity bidding and procurement.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: 2018
Services, lifestyle, travel & on-demand apps
- Kaodim
- Description: Leading Malaysian services marketplace matching homeowners and businesses with vetted service professionals, including plumbers, electricians, air-con technicians, and home cleaners.
- Latest Funded Amount: US$7.0M
- Latest Funded Date: Nov 06, 2017
- TokoTalk
- Description: Indonesian e-commerce SaaS tool helping social sellers turn messaging chats into automated e-commerce web stores with integrated payment processing and delivery dispatch.
- Latest Funded Amount: US$3.2M
- Latest Funded Date: Apr 25, 2019
- Flexible Pass
- Description: Myanmar fitness and health marketplace providing gym-goers with flexible, multi-venue access to fitness centers, yoga classes, and sports activities through a single pass app.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Aug 13, 2019
- Adventoro
- Description: Malaysian travel tech platform providing online bookings for curated adventure tours, eco-tourism activities, outdoor excursions, and authentic local travel experiences in Southeast Asia.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: 2017
- Food2U
- Description: Early Myanmar food delivery marketplace connecting urban diners with local restaurants for doorstep meal delivery via a mobile app platform.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Apr 23, 2018
- become
- Description: Malaysian personalized skincare and beauty marketplace utilizing digital diagnostic quizzes to match consumers with customized skincare routines and products.
- Latest Funded Amount: US$150.0K
- Latest Funded Date: Jun 01, 2020
- Instawash
- Description: Thailand-based on-demand doorstep mobile car wash service enabling vehicle owners to schedule eco-friendly auto cleaning and detailing at home or work.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Dec 14, 2018
- JomPaw
- Description: Malaysian pet services marketplace matching pet owners with reliable local pet sitters, dog walkers, home groomers, and pet trainers.
- Latest Funded Amount: US$24.8K
- Latest Funded Date: Jan 17, 2019
- Globerekker Challenge
- Description: Singapore corporate health and wellness platform engaging employees in gamified team fitness challenges, step-tracking competitions, and corporate wellness programs.
- Latest Funded Amount: US$600.0K
- Latest Funded Date: Sep 28, 2015
- Box24
- Description: Thai smart kiosk operator providing automated 24/7 parcel collection lockers, smart dry cleaning drop-offs, and urban laundry services.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: 2017
- Kerjadulu
- Description: Indonesian social recruiting app linking job candidates directly with company hiring managers through social network connections and instant messaging.
- Latest Funded Amount: Undisclosed
- Latest Funded Date: Mar 01, 2016
- Hoorah
- Description: Mobile marketing engagement startup offering brands interactive digital loyalty cards, instant consumer reward promotions, and gamified customer retention tools.
- Latest Funded Amount: US$358.0K
- Latest Funded Date: Apr 23, 2017
- Stubapp
- Description: Regional digital event ticketing app enabling event organizers to create, market, sell mobile tickets, and manage event access control.
- Latest Funded Amount: US$136.1K
- Latest Funded Date: Jun 19, 2018
- Resdi
- Description: Hyperlocal social platform enabling neighbors to post local alerts, buy and sell second-hand goods, and share community recommendations within their residential zip codes.
- Latest Funded Amount: US$25.0K
- Latest Funded Date: Dec 23, 2019
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