After a strong finish to Q3 with a total of $7.4B invested worldwide in September, October venture investments climbed even higher with $7.8B venture dollars poured into startups in the US and abroad. San Francisco, New York and London tallied the most deals in October, while international hubs Berlin and Mumbai both raised over a dozen venture rounds.

Beijing managed to amass $420M in venture funding over just five rounds due to Koudai’s $350M Series C led by Tencent. While no city surpassed the $1B mark in October, San Francisco topped all cities with $969M in total funding over 78 rounds.

Second behind SF was the Florida beach town of Dania. Dania Beach scored more venture funding in October than New York, London, Boston and Seattle with Magic Leap’s $542M Series B from Legendary EntertainmentQualcomm VenturesAndreessen HorowitzKPCB Holdings and Google.

Asian startups raised a total of $1.15B in October, led by China with $472.5M, while India was the most active country in the region, tallying 25 rounds. Aside from Koudai, online English school 51Talk of Beijing raised a $55M Series C and Lvmama of Shanghai raised $49M for its DIY tourism site.

The success of Jakarta-based Tokopedia, capped by its most recent Series E round totalling $100M from Sequoia and Softbank, brought Jakarta into the VC spotlight this month. However, the Series E was the only round in CrunchBase for Indonesia this month and just the 22nd in 2014.

On the heels of Facebook, Twitter and Uber opening offices in Jakarta, it’s high time for VC’s to start to look to Indonesia for investment opportunity. With the most active Twitter users in the world, Jakarta is one of the largest markets without a significant tech startup scene.

Indonesia’s top investor, Tokyo-based East Ventures, is the only active traditional early stage venture firm to invest heavily in the world’s fourth most populous country and has made 15 of its 44 investments in the country, according to CrunchBase. East Ventures was the sole investor in Tokopedia’s Series A round back in 2010 and also participated in their 2013 Series D.

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  • Originally published November 4, 2014, updated April 26, 2023