Funds raised by Singapore’s tech startups up 59% in 2023

The number of deals also climbed 50%, from 20 in 2022 to 30 last year, across four sectors. — The Straits Times

SINGAPORE: Singapore’s early-stage emerging technology startups raised US$402mil in funding in 2023, up 59% from the US$253mil raised in 2022, says national investment arm SGInnovate.

The number of seed-stage deals also climbed 50%, from 20 in 2022 to 30 last year, across four sectors – advanced manufacturing, agrifood and sustainability, as well as health and biomedical sciences.