Editor’s notes: graphics, data & information provided by data platform Tracxn
The Southeast Asia (SEA) Monthly Funding Tracker for March 2025 reflects a slight upward move in funding during the month. Total funding amounted to $99.5 million across 22 rounds, marking a rise of 10.31 percent compared with February 2025 and an 82.1 percent decline from March 2024.
Early-Stage Rounds Take The Lead in March 2025
Early-stage funding accounted for 90.5 percent of the total investments, while seed-stage funding contributed 9.5 percent and late-stage funding was absent. This is similar to February this year, which saw early-stage investments take the lead.
Uptick in Acquisitions in March 2025
March 2025 witnessed six acquisitions, including the purchase of AI Palette by GlobalData. This is slightly higher than 3 acquisitions in February 2025 and 4 in March 2024. No tech IPOs occurred during the month.
Top Funding Deals in March 2025
The largest deal in February this year was Chitose Bio Evolution (Singapore), raising $49 million, followed by AMP (Singapore) with $12.6 million, and RockFlow (Singapore) securing $10 million.
City-Wise Trends
Singapore took a strong lead, raising $80.4 million, followed by Makati, Philippines at $8.5 million and Petaling Jaya, Malaysia, at $6.8 million.
The concentration of funding in Singapore highlights its role as a crucial base for tech startups and investors.
Key Investors and Types of Funding
Venture Capital (VC) Investors
● 1982 Ventures, Ignite House and TheVentures participated in one round each.
○ 1982 Ventures participated in Philippines-based Higala’s $2.8 million round.
○ Ignite House participated in Shoppable’s $1.2 million round in Mataki, Philippines
○ TheVentures was an investor in the $1 million round raised by Filum in Ho Chi Minh City, Vietnam.
Incubators
● Cradle participated in Versa’s $6.8 million fundraising in Petaling Jaya, Malaysia.
● BAJ Accelerator backed Philippines-based Shoppable’s $1.2 million round.
● Wavemaker Impact invested in Agros’ $4.3 million round in Singapore.
Key Takeaways from the Data
1. Tepid Funding Activity: March 2025 saw some stability in funding,
2. Early-stage rounds dominate: Investments in February and March of this year have been driven by early-stage funding.
3. Slight improvement in acquisition activity: The number of acquisitions improved, but the absence of tech IPOs continued to indicate weak acquisition activity
This analysis highlights the SEA startup ecosystem’s evolving dynamics. March has seen a significant amount of funding, but there is scope for further growth.
