Asian startup funding faced a tough start in 2023, witnessing a sharp decline of 50% compared to the previous year.

Crunchbase data revealed a substantial drop from over $73 billion in the first half of 2022 to a mere $36.3 billion in funding for H1 2023, as shown in the Techloy chart below. For the second quarter, funding in the region dropped 44% YoY, from $32.8 billion in Q2 2022 to $18.5 billion in Q2 2023.

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