Women-led tech start-ups in Southeast Asia (SEA) faced a significant funding decline in 2024, with total investments dropping 65% to $198m from $570m in 2023, according to the Tracxn Geo Annual Report. Despite this downturn, Singapore emerged as the leading city for women-led start-up funding, securing $154m, followed by Jakarta and Hanoi with $33m and $20m, respectively.
The report highlights that the SEA region, home to over 35,000 active tech companies, saw women-led start-ups account for just 6% of the total $3.09b tech start-up funding in 2024. The decline is attributed to global economic challenges and a general slowdown in funding. Notably, early-stage funding fell to $115m, a 39% decrease from the previous year, whilst seed-stage funding rose by 20% to $82.9m.
Blockchain technology companies led the funding landscape, receiving $133m, marking a 391% increase from 2023. However, the FinTech sector experienced a sharp decline, raising only $91m compared to $427m in 2023. The Enterprise Applications segment also saw a significant drop, securing $60.6m, down from $233m the previous year.
Despite the challenges, the number of acquisitions doubled to six in 2024, with notable deals such as Aptar Digital Health’s acquisition of Healint. Ongoing initiatives, including support from the ASEAN Coordinating Committee on Micro, Small, and Medium Enterprises and the SG Women in Tech initiative, continue to foster innovation and provide opportunities for women-led start-ups in the region.
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