Singapore startups raised US$397 million in funding in the third quarter of this year, a 26% decline from US$536 million during the same quarter in 2023.

According to Tracxn’s Geo Quarterly Report, this decline highlights the difficulties in securing investment amid fluctuating global economic conditions.

However, funding increased by 9% compared to the second quarter of this year, which reported US$363 million.

The report revealed contrasting funding trends across investment stages.

Late-stage investment surged by 48%, totaling US$80 million in Q3 2024, compared to US$53.9 million in Q2 2024.

In contrast, early-stage funding saw an 8% decrease, dropping to US$237 million.

However, seed-stage financing increased significantly, jumping 56.5% to US$80.3 million, driven by a rise in smaller investment rounds.

So far in 2024, only two Singapore tech startups have launched IPOs, with Q3 reporting no new listings.

Regional players such as Wavemaker Partners, Antler, and Entrepreneur First have emerged as leading investors in this environment.

Currently, Singapore ranks fourth in Asia’s tech startup ecosystem for cumulative funding, trailing behind China, India, and Israel.