Southeast Asia’s artificial intelligence (AI) infrastructure has drawn $1.2 billion funding from 2019 to 2026, with Singapore captured for about 99 percent of all the disclosed funding, Tracxn said Thursday.
According to Tracxn, Singapore dominated the funding across Indonesia, Malaysia, Singapore, and Thailand.
The city-state’s established financial infrastructure, deep talent pool, and pro-innovation regulatory environment have made it the default domicile for AI infrastructure companies across the region.
Meanwhile, Malaysia, Indonesia, and Thailand each record minimal or no disclosed investment for the period.
Malaysia’s $1.5 million represents early-stage activity, while Indonesia and Thailand, both home to large and growing digital economies, report no disclosed AI infrastructure
funding in the dataset.
As regional AI adoption broadens, these markets represent potential areas of future capital deployment, particularly as domestic cloud and data center buildout accelerates across the region, said Tracxn.
Meanwhile, early-stage rounds account for over 95 percent of all disclosed capital across 2023–2025.
In 2024, two early-stage transactions totaled $608 million of the $614 million deployed.
In 2025, four early-stage rounds accounted for $312 million of $320 million.
No late-stage transactions are recorded in any year in the dataset.
Seed-stage funding, on the other hand, shows a steady upward trend — $4 million across 7 rounds in 2023, $6 million across 5 rounds in 2024, and $7.64 million across 7 rounds in 2025.
Meanwhile, 2025 recorded 11 rounds, the highest in any year on record, while total disclosed capital of $320 million was 48 percent below the $614 million recorded in 2024.
Early-stage rounds accounted for $312 million across 4 transactions, compared to $608 million across 2 transactions in 2024.
Seed-stage activity held relatively stable: 7 rounds in both 2023 and 2025, with total seed funding rising from $4 million to $8 million over the same period.
The 2026 partial-year data shows 2 rounds totaling $1 million, both seed-stage.
The dataset records two acquisitions in the AI infrastructure space, both Singapore-based.
SUPA (founded 2014), a data labelling platform serving photo, text, audio, and video annotation; and Nidum (founded 2023), a decentralized AI computing platform enabling
shared GPU resource access.
Both operate within the AI Infrastructure and Generative AI practice areas as categorized in the dataset.
MiniMax is the sole company identified in the initial public offering (IPO) pipeline within the dataset.
Founded in 2022, the company develops multimodal AI models and offers an application programming interface (API) platform alongside consumer-facing applications for video, image, and voice generation.
Singapore’s venture funding falls to $4.6B in 2025 as investors demand more from startups