Asia’s Startup Funding At Near Record High In Q3, Driven By AI
Overall, investors put $38.5 billion into reported seed- through growth-stage financings for Asian startups in Q3, per Crunchbase data. Of that, a majority went to AI-focused companies, echoing the trends we’ve seen globally.
In the third quarter, Asia's startup funding reached near-record highs driven by the artificial intelligence sector, despite a slight decline from the previous quarter. A total of $38.5 billion was invested across reported seed to growth-stage financings in Asia, with AI-focused companies receiving the majority of the funds. China led the funding with approximately 70% of the total, followed by India and Singapore.
The late and growth-stage investments accounted for the bulk of the capital, totaling around $20 billion. China-based companies secured the largest single round, when Beijing-based Moonshot AI raised $3.5 billion in July at a valuation of $35 billion. Other notable AI-funded companies included Kling AI, which raised $3 billion in a July financing led by Baidu and Tencent. While overall funding was down from the prior quarter, it remained the second-highest on record.
Written by urgent.news from Crunchbase News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
