Singapore startups report no IPOs and four acquisitions in March

Data from Tracxn shows March saw steady acquisition activity and no companies going public.

Singapore’s startup ecosystem saw no initial public offerings (IPOs) and four acquisitions in March 2026, according to compiled data by market intelligence platform Tracxn.

This follows three acquisitions and zero IPOs in February 2026, and six acquisitions with no IPOs in March 2025.

No new unicorns, or privately held startups valued at $1b or more, were recorded in March 2026.

Overall funding activity for the month included $229.3m raised across 17 rounds, reflecting ongoing investment despite fluctuations in previous months.

Seed-stage funding reached $51.1m, whilst early-stage rounds raised $178.2m. Late-stage rounds had no reported funding in March.

The top five deals by round size in March were Startale $50m, Mozark at $40m, TazaPay $36,, Video Rebirth at $30m, and Agnes AI at $20m.

Sources of funding included Vertex Ventures, IFC, and RTP Global, leading overall investments for the month.