In 2023, Singapore remained the top start-up investment destination in Southeast Asia despite a funding downturn. Start-ups based there accounted for 63.7% of all equity deals in ASEAN-6, up from 56.7% in 2022. Singapore’s deep-tech ecosystem saw a 31.4% increase in deals, indicating investor confidence. Although deal value fell 18.4% to US$1.53 billion, early-stage funding garnered 94.1% of deal volume. Despite a funding crunch, global and regional investors show strong interest in Singaporean start-ups with solid fundamentals. Notable companies include ShopBack, Thunes, and SCI Ecommerce.
