Overall fundraising by Indonesian startups in pandemic-hit 2020 is poised to fall by nearly a third from last year.
Fifty-two startups in the country had raised $1.92 billion until the third quarter of 2020. This may inch up to $2 billion by the end of this year, forecasts Indonesia’s venture capital association (Amvesindo). That’s still down 32.4% from the $2.95 billion raised in 2019.
