Late-stage funding surges to $1.99b as startup market defies freeze

Investment value quintupled since the record lows seen in the second half of 2024.

Singaporean startups saw strong equity funding activity in the second half (H2) of 2025, according to the Southeast Asia Startup Funding Report 2025 by Kickstart Ventures.

Late-stage funding showed notable growth, with 16 deals valued at $1.99b in H2 2025, compared with seven deals worth $390m in first half (H1) of the year.

Historically, the peak late-stage value was $3.89b across 32 deals in H2 2021, whilst the lowest deal volume in the past three years was six deals worth $400m in H2 2024.

Early-stage deals, meanwhile, reached 138 transactions worth $1b, up from 122 deals totaling $820m in H1.

The highest recorded early-stage activity in recent years occurred in H1 2022, when 274 deals raised $2.91b.

Combined early- and late-stage activity in the second half of 2025 exceeded both deal volume and value reported in the preceding three half-year periods.

Follow the link s for more news on

Chart of the Day

singapore startup economy

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia