The Business Times
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Singapore’s deep-tech startups snare lion’s share of funding as VC interest returns

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Daphne Yow

Daphne Yow

Published Wed, Nov 15, 2023 · 05:00 AM
    • The phrase “deep tech” is loosely used to describe technology that is sophisticated, novel and tough to replicate.
    • The phrase “deep tech” is loosely used to describe technology that is sophisticated, novel and tough to replicate. ILLUSTRATION: ADOBESTOCK

    DEEP-tech startups in Singapore have managed to attract the lion’s share of startup funding this year, as investors gain confidence in this once-niche space.

    Enterprise Singapore said Singapore accounted for about three-quarters of the total deep-tech deal volume in South-east Asia in the first nine months of 2023, with healthtech and greentech attracting the most deals.

    Aditya Mathur, managing director of early-stage deep-tech venture capital (VC) fund Elev8.vc, said that although the absolute amount of funding in the past year has fallen, the percentage of investments in deep tech has increased.

    Deep techVenture capitalStartup funding

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