Emerging Tech Startups - Singapore Landscape Report
Funding Activities in 2022 by Sub-verticals
Compared to 2021, overall funding events and amounts raised have fallen, with Alternative Protein startups seeing the biggest drop. However, we also observed a
rising number of funding events in Sustainability.
Advanced
Manufacturing
Agrifood
Sustainability
Health and Biomedical Sciences
No. of Funding Events in 2022
1
1
3
1 1
2
5
6
3
3
2
Total: 48
5
7
2021:58
0
5
10
15
20
25
30
35
40
45
Total Funding in 2022 (US$M)
11 11 230
0
Additive Manufacturing
Agritech
I Sustainable Materials
102
50
100
Advanced Materials
Alternative Proteins
Medical Devices
Automation
Food Tech
Diagnostics
18
9
7 9
21
19
150
Sensors and Electronics
Decarbonisation
Platform Tech
41
200
Space Tech
Resource Optimisation
Therapeutics
250
Total US$M: 253
2021: 352
Advanced Manufacturing
•
Advanced Manufacturing saw a substantial decline in the total funding amount for the
sector, brought on by the halving of the average seed round size as well as a decline in
the number of funding events (2021:13, 2022: 10).
• This may reflect a shift in investors' focus towards other verticals, and could also be tied
to the global weakening of manufacturing activities.
Agrifood
.
•
Only two (compared to 12 in 2021) alternative protein companies raised funds in 2022.
This could be attributed to the ample cash runway the 12 startups had raised in 2021,
along with the declining market valuation for new rounds in 2022.
Without the large US$100M Series A round by Next Gen Foods, the amount fundraised
by Agrifood overall would have otherwise been relatively muted.
* Startups that span multiple verticals have been classified under the category that best represents their core industry.
Health and Biomedical Sciences
•
Both the number of funding events (2021: 20, 2022: 18) and total fundraised amount
decreased (2021: US$121M, 2022: US$89M) this past year.
While overall seed round size doubled, we also saw more extension rounds which are
typically associated with smaller cheque sizes.
Sustainability
•
Sustainability was the only pillar that saw a year-on-year increase in the number of
funding events (2021: 5, 2022: 12).
• This could signal both a maturation of sustainability startups and growing investor
interest in this vertical.
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