AI, fintech draw venture cash in $5.9b funding year

Deep tech also took a bigger slice of funding, rising to 24.7% of deal value. 

Funding remained strong in artificial intelligence (AI), deep tech, and fintech in 2025, even as Singapore’s venture activity moderated.

An EY-Parthenon and Enterprise Singapore (EnterpriseSG) report showed that Singapore-based firms raised $5.9b across 472 venture deals during the year.

Recent monthly data also pointed to a softer funding environment. Singapore startups raised $39.8m in April 2026, down sharply from $667m in March, according to market intelligence platform Tracxn.

Funding had peaked at $2.2b in January 2026, followed by $1.7b in July 2025, it added.

Meanwhile, EnterpriseSG said AI deal value rose 30% to over $1.8b in 2025, accounting for 30% of Singapore’s total venture deal value. AI startups also made up 42.8% of total deal volume, up from 30.9% in 2024.

The figures support earlier analysts’ views that investors are concentrating capital in fewer companies whilst becoming more selective about their bets. 

Median deal size amongst AI-native rounds rose 40% to about $8.92m last year, pointing to larger cheques for selected AI startups, Tracxn data showed.

EnterpriseSG said the trend reflected investor interest in AI-native platforms and applied use cases with scalable data advantages.

Notable AI deals included Supabase, which raised over $127m in a Series E round to scale its developer platform, and Surfin, which secured over $33m to support its expansion into new markets and strengthen research and development.

On the other hand, fintech remained the largest funding segment, with deal value rising 34% year-on-year to over $2.1b. 

Singapore accounted for 74% of fintech funding across ASEAN-6, which also comprises Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

Major fintech transactions included Airwallex, which secured $806m across two rounds, and Bolttech’s $188m Series C round.

Deep tech also accounted for a larger share of Singapore’s venture ecosystem despite broader market headwinds.

Its share of deal value rose from 11.1% in 2022 to 24.7% in 2025, whilst its share of deal volume increased from 11.4% to 19.3% over the same period.

Notable deep tech transactions included Callio Therapeutics, which raised more than $238m to advance its cancer therapy platform, and Amperesand, which raised $102m to commercialise and scale its power solutions.

Emily Liew, assistant managing director for innovation at EnterpriseSG, said the country’s startup ecosystem had allowed it to weather challenges and continue building capacity in AI and deep tech.

“The strong foundations of our ecosystem have allowed us to weather challenges and continue to build capacity in priority emerging areas such as AI and deep tech,” Liew said.

Liew also pointed to the $37b Research, Innovation and Enterprise 2030 plan and the $1b Startup SG Equity scheme as part of Singapore’s support for partnerships, talent development, and research capabilities.