DEEP-tech startups in Singapore have managed to attract the lion’s share of startup funding this year, as investors gain confidence in this once-niche space.

Enterprise Singapore said Singapore accounted for about three-quarters of the total deep-tech deal volume in South-east Asia in the first nine months of 2023, with healthtech and greentech attracting the most deals.

Aditya Mathur, managing director of early-stage deep-tech venture capital (VC) fund Elev8.vc, said that although the absolute amount of funding in the past year has fallen, the percentage of investments in deep tech has increased.