This report takes stock of fundraising trends among Southeast Asia’s deep tech startups. Deal activity in the sector softened in 2025. Yet, the pullback did not translate to weaker capital formation, pointing to a market where capital is still being deployed but with greater discipline.
The segment also accounted for a higher share of overall venture-backed deals in 2025, compared with the previous year—a sign that it is gaining relevance across the funding pipeline, rather than being lifted only by a handful of large rounds.
Most activity was concentrated in the early stages as very few startups are ready for growth-stage capital. Among verticals, deep tech startups in health tech and green tech dominated funding activity.
