Singapore dominates Southeast Asia's top-funded women-led startups

Tracxn ranked 25 firms, with Singapore accounting for 15 companies.

Singapore accounted for the majority of Southeast Asia’s top-funded women co-founded startups, with 15 of the 25 companies in a new Tracxn ranking based in the city-state.

The cohort spans Singapore, Indonesia and Malaysia, covering funding stages from Series A through public listing. Together, the companies have raised about $21.1b (US$16.5b) in total equity funding as of 15 May.

Grab, co-founded by Hooi Ling Tan, is the largest company in the ranking with about $13.3b (US$10.4b) raised and a public listing. Airwallex, co-founded by Lucy Yueting Liu, follows with about $2.0b (US$1.6b) in funding and a valuation of $10.4b (US$8.0b).

Singapore dominates the list, with companies spanning fintech, enterprise software, consumer platforms and deep tech. These include Advance Intelligence Group, Silicon Box, ShopBack, Zilingo, YouTrip, AscendEX, GoBear, Silent Eight, Wiz AI, Manabie, Neptune Robotics, Love Bonito and TurtleTree, alongside other venture-backed firms across similar sectors.

Indonesia contributes nine companies, including Xendit, Ajaib, Investree, Sayurbox, Aruna, Astro, Pinhome, Sociolla and VIDA, spanning payments, lending, retail and food technology.

Malaysia is represented by Aerodyne, a drone services company.

Across the cohort, companies operate in logistics, payments, forex technology, alternative lending, investment technology, aquaculture, drones, retail technology, and enterprise software.

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