In 2024, Southeast Asia’s tech sector experienced a significant downturn, with funding plummeting 59% to $2.84 billion amid a challenging global economy. Late-stage investments fell by 76.9%, while seed funding declined by 52.4%. Key developments included eFishery’s leadership suspension over alleged embezzlement, Malaysia emerging as the region’s top data center hub with $23 billion investments, and Google committing $1 billion to expand its digital infrastructure in Thailand. Additionally, Vietnam launched initiatives to attract $35 billion in private investments by 2035, while Indonesia blocked the e-commerce app Temu for regulatory violations.

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