Startup funding sinks 87% in August

Startups only raised $41m during the period.

Singapore's startup funding took a sharp dive in August, plunging 87.96% compared to July, according to a Tracxn report.

Startups only raised $41m during the period, down from $341m month-on-month. Despite the slowdown, early-stage funding dominated, accounting for 85.1%.

Seed-stage funding represented only 14.9%, whilst late-stage funding was non-existent for the month.

Amongst the month’s largest deals, Graas led the pack with a $9m raise, followed by Topview.ai ($8.5m), Nibertex ($7m), Zuzu ($5.9m), and Singrow ($4.5m).

Peak XV Partners emerged as the most active venture capital fund, participating in two deals, whilst Velocity Ventures and Integra Partners each closed one deal. On the incubator side, GROW, Space F and Google for Startups each backed one company.

Exit activity was modest, with one IPO and two acquisitions recorded. No new unicorns emerged during the period.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia