SINGAPORE/JAKARTA – Southeast Asia’s biggest tech stars are struggling to keep their sparkle in the eyes of fickle investors as pressure to demonstrate profitability mounts now that trimming the fat from their businesses appears insufficient.
The cautious mood, exacerbated by geopolitical tensions and a fragile macroeconomic environment, is also affecting startups looking for capital. Fundraising in the region in the first half of 2024 fell by a third year-on-year.
