APAC startup funding tightens as market matures

According to Phocuswright research, APAC travel startup funding is tightening as investors prioritize financial rigor and selectivity. Venture capital for Asia-based startups fell 6% to $67.5 billion in 2025, the lowest in five years. Investors favor lower-risk, later-stage companies, with fewer large growth rounds and more strategic investments. AI, infrastructure, and fintech are key innovation areas.