Singapore's deep tech value dips despite more deals

In 2023, deep tech deals in Singapore amassed a total value of US$1.53b. 

Singapore witnessed an increase in the number of deep tech deals in 2023, albeit the overall value of these investments was lower than the previous year.

An Enterprise Singapore and Dealstreet Asia report showed that Singapore recorded 159 deep tech deals with a total value of US$1.53b in 2023. In 2022, the nation saw 121 deals worth US$1.87b.

Silicon Box led the list of top deep-tech deals by Singapore companies in 2023, raising US$139m in a Series B round backed by BlueRun Ventures, Maverick Capital, TDK Ventures, and UMC Capital.

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Several healthcare and health tech startups were also part of Singapore’s top deep tech deals last year, led by Foundation Healthcare, which raised US$111m in a growth equity round.