Singapore Attracts $114M for Women-Led Startups, Despite 72% Decline from 2023

·  Singapore received $114 million for women-led tech startups, despite a 72% decline.

·  Blockchain saw a funding surge, while other sectors dropped. Singapore remained a key hub for female entrepreneurs.

According to Tracxn, Singapore secured $114 million in funding in 2024 for Women-led tech startups, making it the highest-funded city in Southeast Asia. This number marks a 72% drop from 2023. The report highlighted a significant drop in funding for women-led startups across Southeast Asia, with total investments falling 65% to $198m in 2024. This accounted for just 6% of the $3.09 raised in the SEA tech ecosystem.

The decline was driven by a lack of late-stage funding and a shift in investor priorities toward profitability. From $190m in 2023, Singapore’s early-stage financing dropped 39% to $115m in 2024. In contrast, seed-stage investments saw a modest 20% increase, reaching $82.9m, but remained 30% below 2022 levels. Notably, no late-stage funding was recorded for women-led startups in 2024, a stark contrast to the $311m raised in 2023.

"In terms of sector performance, blockchain startups emerged as the frontrunners, securing $133 million in funding, a staggering 391% increase from 2023. In contrast, FinTech startups raised just $91 million, reflecting a notable 79% year-over-year decline. Meanwhile, Enterprise Applications saw an even more pronounced drop of 74%, bringing in only $60.6 million. Despite these challenges, Singapore continues to be the leading market for female entrepreneurs in Southeast Asia.

Key investors, including Antler, Wavemaker Impact, Vertex Ventures, and SEEDS Capital, remained committed to supporting early-stage women-led startups. Additionally, acquisitions of women-led startups in Singapore doubled to six in 2024, though no IPOs were recorded for the second consecutive year.