Funding of technology startups in Southeast Asia rose 176 percent to $13.5 billion in the first nine months of 2026, thanks to three mega deals, according to a report from data firm Tracxn.

Funding climbed from $4.9 billion a year earlier even as the number of rounds dropped 28 percent to 189, Tracxn said in its SEA Tech – 9M 2026 report. The rise was concentrated in a few very large late-stage deals.

Three rounds accounted for a majority of the funding raising. Singapore-based data-centre operator DayOne raised a $2.5 billion Series C in June and a $2 billion round in January. Besides, Singapore-based video-generation firm Kling AI raised a $2.8 billion Series D in July.

Together, the three totaled $7.3 billion, equivalent to 54 percent of the nine-month total and 85 percent of the year-on-year increase. Four rounds of $1 billion or more made up 63 percent of all funding.

Late-stage funding, including Series C and beyond, private equity, and pre-IPO deals, more than tripled to $10.2 billion from $3.1 billion, on almost the same number of rounds.

Earlier-stage funding was smaller and thinner as Series A and B rounds drew $3 billion across 80 deals. Seed and angel rounds accounted for $270 million across 90 deals.

By sector, data-center infrastructure led with $4.7 billion, or 35 percent of the total, followed by video-creation tools at $2.8 billion. Payments, professional-service robots and industrial robotics rounded out the top five.

Singapore dominated with companies there raising $12.4 billion, or 94 percent of the regional total, up from 90 percent a year earlier. After Singapore, West Jakarta ranked next with $270 million, followed by Bangkok (Thailand), Kuala Lumpur (Malaysia), and Taguig (the Philippines), each under $130 million.

Dealmaking narrowed in other ways too. The region produced one new company valued at $1 billion or more, namely ShopBack, versus three in the same period of 2025. Exits included the $5.2 billion acquisition of ST Telemedia Global Data Centres by KKR and Singtel, Grab’s $1.5 billion purchase of Atome, and 10 public listings.

Southeast Asia logistics-tech funding hits $17.7B, Singapore leads: Tracxn