तिमाही गिरावट के बाद एशिया स्टार्टअप फंडिंग में कमी आ सकती है

Funding to startups in Asia in the third quarter of 2023 saw only a slight drop year to year, a sign that the continent’s funding market may be finding its equilibrium.

Asia funding seemed to mirror वैश्विक रुझान, with year to year being down, but with the third quarter actually representing an 8% increase from the previous quarter, per CrunchBase data. The small growth from last quarter was mainly led by late-stage and growth funding being up even as seed and early stage struggled.

Startups in the region raised a total of $22.3 billion compared to $24.4 billion in the same quarter last year. In Q2 of this year, funding hit $20.6 billion.

Deal flow, however, was mostly down, with only 1,518 deals being announced in Q3 — a 17% drop from the previous quarter which saw 1,826. The number also represented a 30% year-to-year drop from 2,177 deals.

विषय - सूची

Growth rounds grow

Due to their size, late-stage and growth rounds are what really drive the needle as far as funding numbers. Those rounds helped push Q3’s numbers past the previous quarter

Last quarter saw $14.6 billion in such rounds, a 25% increase from $11.7 billion in Q2 and a whopping 51% uptick from the previous year, which saw only $9.6 billion.

Not surprisingly, a lot of the largest of those growth rounds went to Chinese startups — which raised seven of the 10 biggest rounds of the quarter, including:

• जीटीए सेमीकंडक्टर raised a private equity round worth approximately $1.9 billion early last month.
• रनपेंग सेमीकंडक्टर raised a private equity round worth approximately $1.7 billion in mid-August.
• इलेक्ट्रिक वाहन स्टार्टअप होज़ोन locked up a venture round worth about $961 million in late August.

Deal flow remained almost even for late-stage and growth rounds from Q2 — 157 in Q3 compared to 154. However, that represents a 21% decline from Q3 2022 which saw 199 late-stage and growth deals.

Early stage sinks

Obviously not every stage saw an increase, and early rounds sank the lowest by percent. Only $6.2 billion went to early-stage rounds, a 15% decrease from $7.3 billion in Q2 and a massive 51% drop from the $12.7 billion invested in such rounds for the same quarter last year.

Deal flow didn’t pick up here either. In Q3, 538 early-stage deals were announced, a 6% dip from 538 in Q2 and a 17% fall from the 646 announced in Q3 last year.

Seed rounds see big decline

Angel and seed rounds also declined, but just moderately when one considers their lower price point.

In Q3, only $1.5 billion went to those earliest rounds, an 8% decline from $1.6 billion in the previous quarter and a slightly bigger 29% drop from the $2.1 billion invested in angel and seed rounds in Q3 2022.

However, deal flow for angel and seed did take a significant hit. Only 823 such rounds were announced in Q3 — a 25% decline from the 1,100 rounds in Q2 of this year and a 38% fall from the 1,332 angel and seed deals announced in Q3 last year.

इसका क्या मतलब है

The numbers were somewhat similar to last quarter, with funding up from the first quarter of the year but down year to year.

The good news for investors may be that Asia is finally finding an equilibrium. It seems logical to conclude at this point that the $54.8 billion invested in Q4 2021 was unsustainable. However, the massive quarterly and year-to-year declines seem to be lessening and may be falling more back in line with reality.

The comeback of late-stage and growth rounds could be a good indication, although the massive dip in early-stage rounds and the drop in deal flow for seed rounds is concerning. Eventually, it will have to be some of the seed and early-stage companies raising large growth rounds if funding numbers are to stay level.

Will those companies make it there as fewer and fewer of them get early funding?

Of course, political tensions in Asia right now hang over everything. The fighting in Israel could significantly affect funding to the country’s robust startup ecosystem — especially its well-known cybersecurity sector.

There also are the heightening tensions between China and the U.S. There is no denying U.S. investors have pulled out of the region’s largest startup ecosystem. At the very least, they have split it from their U.S. businesses as जीजीवी कैपिटल announced in September — cleaving its business in two, with one focused on Asia and the other on the U.S. That follows सिकोइया कैपिटलजून में भी ऐसी ही घोषणा.

Time will tell what effect that will have on funding overall for Asia.

क्रियाविधि

इस रिपोर्ट में निहित डेटा सीधे क्रंचबेस से आता है, और रिपोर्ट किए गए डेटा पर आधारित है। रिपोर्ट किया गया डेटा 3 अक्टूबर, 2023 तक का है।

ध्यान दें कि डेटा अंतराल उद्यम गतिविधि के शुरुआती चरणों में सबसे अधिक स्पष्ट हैं, एक तिमाही/वर्ष के अंत के बाद बीज वित्त पोषण की मात्रा में उल्लेखनीय वृद्धि हुई है।

Please note that all funding values are given in U.S. dollars unless otherwise noted.

Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

निधियों की शब्दावली

हमने जनवरी 2023 तक अपनी रिपोर्टिंग में कॉरपोरेट फंडिंग राउंड को शामिल करने के तरीके में बदलाव किया है। कॉरपोरेट राउंड केवल तभी शामिल किए जाते हैं, जब किसी कंपनी ने उद्यम श्रृंखला फंडिंग राउंड के माध्यम से शुरुआती स्तर पर इक्विटी फंडिंग जुटाई हो।

बीज और परी में बीज, पूर्व-बीज और परी दौर होते हैं। क्रंचबेस में अज्ञात श्रृंखला के वेंचर राउंड, इक्विटी क्राउडफंडिंग और परिवर्तनीय नोट $ 3 मिलियन (यूएसडी या के रूप में परिवर्तित यूएसडी समकक्ष) या उससे कम शामिल हैं।

प्रारंभिक चरण में सीरीज़ ए और सीरीज़ बी राउंड के साथ-साथ अन्य राउंड प्रकार होते हैं। क्रंचबेस में अज्ञात सीरीज के वेंचर राउंड, कॉरपोरेट वेंचर और 3 मिलियन डॉलर से अधिक के अन्य राउंड और 15 मिलियन डॉलर से कम या उसके बराबर शामिल हैं।

अंतिम चरण में "सीरीज़ [लेटर]" नामकरण परंपरा के बाद सीरीज़ सी, सीरीज़ डी, सीरीज़ ई और बाद में लिखे गए वेंचर राउंड शामिल हैं। इसमें अज्ञात सीरीज के वेंचर राउंड, कॉरपोरेट वेंचर और 15 मिलियन डॉलर से अधिक के अन्य राउंड भी शामिल हैं।

प्रौद्योगिकी विकास एक कंपनी द्वारा उठाया गया एक निजी-इक्विटी दौर है जिसने पहले "उद्यम" दौर उठाया है। (इसलिए मूल रूप से, पहले से परिभाषित चरणों में से कोई भी दौर।)

उदाहरण: डोम गुज़मैन