Editor’s notes: graphics, data & information provided by data platform Tracxn
Southeast Asia’s startup funding landscape saw a remarkable rebound in April 2025. The region recorded $439 million across 9 funding rounds, marking a 334.7 percent surge from March 2025’s $101 million and a 218.1 percent increase from $138 million in April 2024.
Stage-wise Trends in April 2025
Funding activity was heavily skewed towards late-stage deals, which accounted for 79.7 percent of the capital raised. Early-stage rounds contributed 19.7 percent, while seed-stage funding made up a marginal 0.6 percent of the total.
Acquisitions & IPOs
April 2025 witnessed a total of four acquisitions, compared to the five acquisitions recorded in March 2025. The notable acquisitions during the month included the acquisition of ASCENT by KFin, Wind by River, AiForesee by Pfct, and YY Circle by YY Group. April 2025 also marked a notable resurgence in public market activity, with four IPOs recorded during the month, in contrast to no IPOs in March 2025.
The companies that went public included BeLive Technology, LTMH, Concorde Security, and iO3. This uptick signals a renewed confidence among mature startups in accessing public capital markets after a period of subdued listings.
Top Funding Deals in April 2025
April 2025 saw a wave of large-ticket funding rounds, all led by Singapore-based startups, underscoring the city-state’s dominance in the regional investment landscape. The top five deals of the month included Supabase, which secured $200 million, followed by Thunes with $150 million. Other significant rounds included Cinch raising $28.8M, Manabie with $23M, and SquareX, which brought in $20 million. Together, these five deals accounted for the overwhelming majority of capital raised across Southeast Asia in April.
City-wise Trends
Singapore solidified its status as the region’s funding epicenter, drawing $428.8 million, over 97 percent of the month’s total. Other notable cities include Jakarta $10.5 million. This geographic concentration reinforces Singapore’s role as the go-to destination for investors in Southeast Asia.
Key Investors and Types of Funding
In April 2025, several prominent investors backed key startup deals in Southeast Asia. Among venture capital firms, Accel led the way with a major investment in Supabase, contributing to a $200 million round.
Vitruvian Partners, though also active in private equity, participated in a $150 million round raised by Thunes. Monk’s Hill Ventures joined the list with a $28.8 million investment in Cinch, all three startups based in Singapore.
On the private equity front, Vitruvian Partners and Apis Partners both participated in Thunes’ $150 million round.
Among incubators, Y Combinator supported Supabase, while Endeavor was involved in Thunes’ round. XNode backed Groundup.ai, which raised $4.3 million. These investments highlight the growing role of incubators in nurturing early innovation in the region.
Key Takeaways from the Data
Massive rebound in funding value, driven by a few large late-stage deals. Singapore dominated April’s capital inflow, with the top 5 deals from there.
Balanced exit environment, with four IPOs and four acquisitions. Seed activity remains minimal, hinting at tighter conditions for very early-stage startups.
