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According to a report by global market intelligence platform Tracxn released on January 7, tech companies in Southeast Asia raised $5.2 billion in 2025, up 7 per cent from $4.9 billion in 2024 but down 31 per cent from $7.5 billion in 2023. The report noted that overall funding was driven largely by a surge in late-stage investments, while early-stage activity declined sharply compared to previous years.
Seed-stage funding in Southeast Asia’s tech sector fell sharply to $214 million in 2025, down 57 per cent from $497 million in 2024 and 73 per cent from $804 million in 2023. Early-stage funding also declined steeply, totalling $1.1 billion, a fall of 64 per cent from $3 billion in 2024 and 53 per cent from $2.3 billion in 2023.
By contrast, late-stage investment surged to $3.9 billion in 2025, nearly tripling from $1.3 billion a year earlier, although it remained 13 per cent lower than the $4.4 billion recorded in 2023.
Enterprise infrastructure, fintech, and enterprise applications emerged as the strongest-performing sectors in Southeast Asia’s tech ecosystem in 2025, though funding trends varied widely across segments.
Enterprise infrastructure led the market, attracting $2.3 billion in funding, up 70 per cent from $1.3 billion in 2024 and more than twelve times the $182 million raised in 2023. Fintech funding, by contrast, fell to $1.5 billion, down 21 per cent from $1.9 billion a year earlier and 42 per cent from $2.6 billion in 2023. Enterprise applications drew $1.42 billion in 2025, a decline of 38 per cent from $2.3 billion in 2024, but a modest 4 per cent increase from $1.36 billion in 2023.
Southeast Asia’s tech sector recorded nine funding rounds of $100 million or more in 2025, up from seven in 2024 but well below the 16 such deals seen in 2023.
Among the largest transactions, Princeton Digital Group raised $1.3 billion in a Series C round, while Digital Edge secured $640 million in Series D funding and Airwallex raised $330 million in a Series G round. Most of the $100 million-plus deals during the year were concentrated in enterprise infrastructure, enterprise applications, and fintech.
Public market activity also strengthened, with 15 initial public offerings (IPOs) recorded across Southeast Asia’s tech sector in 2025, up from nine in 2024 and slightly higher than the 14 IPOs in 2023. Companies including Superbank, Vietnam’s Techcom Securities, and Agroz Group were among those to list during the year.
The region also added two new unicorns – privately held startups valued at $1 billion or more – down from three in 2024 but higher than the single unicorn created in 2023.
Tech companies in Southeast Asia recorded 57 acquisitions in 2025, reflecting a drop of 21 per cent compared to 72 acquisitions in 2024 and a drop of 30 per cent compared to 81 acquisitions in 2023. Dropsuite was acquired by NinjaOne for $270 million, making it the highest-valued acquisition in 2025. This was followed by the acquisition of ASCENT by KFin Technologies at a price of $34.7 million.
Singapore-based tech firms accounted for 91 per cent of all funding raised by tech companies across Southeast Asia in 2025. Jakarta emerged as the next most funded city, contributing 4 per cent of the total funding during the year.
Investor participation varied across stages in the Southeast Asia Tech ecosystem in 2025. Iterative, 500 Global, and East Ventures emerged as the top seed-stage investors. At the early stage, SEEDS Capital, Integra Partners, and Peak XV Partners were the most active investors. In late-stage funding, DST Global, Unbound, and Asia Partners led investment activity across the region.
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