Indonesian startups are starting to feel the ill effects of a universal funding slowdown. News of layoffs at Indonesian startups are spilling out while deals are starting to dry up. After the explosive growth of the Indonesian ecosystem in the past 110 years, startups in Indonesia may be finding it tough to live up to expectations. Funding is still happening, mostly at the early stages of seed rounds and Series A, but investors are now cautious and deliberate longer on whether to bring in their money. Several startups operating in Indonesia laid off their employees starting in early 2022. The startup strategy of reducing these employees is often associated with the bubble burst phenomenon, which not only happens in Indonesia but also globally.
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