Singapore captures 93% of SEA tech funding in Q1

Regional funding jumps to $2.8b on late-stage deals.

Singapore-based tech firms captured 93% of Southeast Asia’s tech funding in the first quarter, as regional investment rose to $2.8b on the back of a sharp rebound in late-stage deals, according to Tracxn.

Singapore accounted for $2.6b of the total, far ahead of Bangkok’s $109m, with the city-state led by DayOne’s $2.0b Series C, two $100m Series B rounds by EPG, and Edena Capital’s $100m Series D. Bangkok ranked second in the region, helped by Amity Solutions’ $100m Series D, whilst Petaling Jaya came next with $30m.

Across Southeast Asia, total funding climbed 146% from $1.1b in Q4 2025 and 110% from $1.3b a year earlier.

The recovery was driven mainly by late-stage funding, which surged 243% quarter on quarter to $2.2b, whilst early-stage funding rose 40% to $487m. Seed funding fell 30% to $105m.

The quarter recorded five funding rounds of at least $100m, up from two in the previous quarter and three a year earlier.

Tracxn said Enterprise Applications, Enterprise Infrastructure, and FinTech were the top-performing sectors, with enterprise-led categories accounting for most of the largest rounds.

Despite the jump in capital raised, overall deal activity was mixed. Southeast Asia recorded 58 funding rounds in Q1, down 37% from a year earlier, whilst first-time funded companies fell to 20 from 43.

There were no new unicorns in the quarter, compared with one a year earlier, but six companies entered the soonicorn club, up from four.

Exit activity also remained uneven. The region recorded three IPOs in Q1, unchanged from the previous quarter and up from none a year earlier, whilst acquisitions fell to 13 from 21 in Q1 2025.

The largest deal was the $6.6b acquisition of ST Telemedia Global Data Centres by KKR and Singtel.

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