Vietnam’s technology start-up funding drops 38% last year
Vietnamese technology start-ups raised more than US$120 million in 2024, a 38.7% decrease compared to the US$196 million in 2023, reported the market intelligence platform Tracxn.
This is also a significant 77% drop from the peak of US$518 million in 2022, the Vietnam Economic Times cited statistics from Tracxn's annual technologies report.
According to the report, with total funding of US$120.3 million in 2024, Vietnam is currently ranked 51st globally, ahead of Iceland and Luxembourg which are at 52nd and 53rd, respectively.
The US, UK and China remain the leading funders.
In the second half of 2024, Vietnamese tech startups raised US$53.6 million, a 19.63% decrease from US$66.7 million in the first half of the year, and a 41.68% drop compared to US$91.9 million in the same period of 2023.
In the fourth quarter of 2024, funding for Vietnamese startups reached US$35.1 million, a sharp 89.73% increase compared to US$18.5 million in the third quarter of 2024.
It is a 68.75% increase compared to the US$20.8 million raised in the fourth quarter of 2023.
Late-stage investments in Vietnam hit US$14.2 million in 2024, which was a sign of recovery after a slowdown since 2021.
Meanwhile, seed-stage investments dropped by 32.37%, down to US$11.7 million in 2024 compared to US$17.3 million the previous year.
Early-stage funding also saw a sharp decline – down by 47.26%, totalling only US$94.4 million in 2024, significantly lower than US$179 million in 2023.
