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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

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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.

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    Deep techVenture capitalStartup funding

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