Amid fluctuations in the global capital market, Southeast Asian technology companies still attracted a lot of investment in the first half of this year. Among them, Singaporean technology companies performed particularly well, contributing 92% of the total financing in Southeast Asia, firmly occupying the “ballast stone” of regional technology investment and financing.
According to the latest report released by Tracxn, an entrepreneurial research institution, the Southeast Asian technology ecosystem raised a total of US$2 billion (about S$2.55 billion) in the first half of 2025, a decrease of 24% from the second half of last year, but an increase of 7% from the same period last year, indicating that although there is a slowdown in the short term, there is a long-term recovery trend.
Singapore led the majority of large deals and initial public offerings (IPOs), further consolidating its leading position in the regional tech landscape. Among them, local company Dropsuite was acquired by US company NinjaOne for US$270 million, becoming the largest M&A deal of the period.
Late-stage financing becomes the main force, infrastructure and fintech attract the most money
The report pointed out that overall financing in Southeast Asia has slowed down, but the heat of late-stage financing has not diminished. Seed round financing was only US$87 million, a year-on-year decrease of 68%. Early-stage financing was US$464 million, a year-on-year decrease of 53%. But late-stage financing surged to US$1.4 billion, a year-on-year increase of 149%.
In the first half of 2025, there were five large financings of more than US$100 million, an increase from the second half of 2024 (three) and the first half of the year (two). These include the US$640 million D round of financing for local data center service provider Digital Edge and the US$150 million D round of financing for local cross-border payment company Thunes.
