Startup exits slow to two acquisitions, one IPO in April to May

This is down from 11 acquisitions in the previous quarter.

Singapore startup exits were limited to acquisitions between 1 April and 31 May, with one initial public offering (IPO) recorded during the period, according to data compiled by market intelligence platform Tracxn.

A total of two acquisitions were completed during the period, compared to 11 acquisitions in the first quarter (Q1) of 2026. There was one IPO, compared with three IPOs in the previous quarter. In comparison, Q2 2025 recorded four IPOs alongside 12 acquisitions.

The acquisitions during the April-to-May period included deals across early and growth-stage companies, although individual transaction values were not disclosed in the dataset.

Late-stage funding represented the largest share when it comes to stagewise funding totalling $157.8m during the period. Seed-stage funding reached $52.2m, whilst early-stage rounds raised $3.7m.

The largest deal during the period was Silicon Box’s $150m round backed by EDBI, followed by Simple Chain’s $15m investment, Biobot Surgical’s $7.85m round led by ZIG Ventures, Brano Therapeutics’s $6.8m raise, and Atlas’s $6m round.

Vertex Ventures recorded two investments in FORMAS.AI at $3.98m and ReN3 at $5m. This was followed by Betatron Venture Group’s $3.7m investment in CubeAsia, KieDex’s $3.5m, and Golden Gate Ventures’ $1.7m investment in Ortcloud.

CMC Capital completed one private equity deal in Growth GPT, with the investment amount undisclosed.

Follow the link for more news on

Chart of the Day

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. 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