Startup funding in Indonesia accounted for only 6.3% of total Southeast Asia startup investment in 2025, highlighting limited capital inflows despite the country’s large ecosystem (23/02).

According to the Southeast Asia Startup Funding Report 2025 released by DealStreetAsia, startups in Indonesia secured US$340 million, equivalent to around Rp5.72 trillion, using an exchange rate assumption of Rp16,844 per US dollar.

Indonesia recorded 66 transactions, placing it second in deal count but far behind the regional leader in total funding value.

Singapore Leads Southeast Asia Startup Funding in 2025

Startup investment in Southeast Asia during 2025 was dominated by Singapore.

Singapore posted 283 transactions with total funding reaching approximately US$4.20 billion, or around Rp70.75 trillion.

Indonesia’s 6.3% contribution to regional funding value remained significantly lower than Singapore’s share.

Malaysia followed with 40 transactions worth US$0.26 billion, while Vietnam recorded 36 transactions totaling US$0.36 billion.

The Philippines logged 23 deals valued at US$0.12 billion, Thailand posted 10 transactions worth US$0.08 billion, and Cambodia recorded three transactions totaling US$0.02 billion.

Late-Stage Funding Supports Recovery as Early-Stage Deals Decline

The report noted that funding recovery in the second half of 2025 was largely driven by late-stage transactions.

Meanwhile, early-stage deal volume gradually declined throughout the second semester.

This condition affected countries whose startup ecosystems remain dependent on early-stage funding, including Indonesia.

Total funding value in 2025 was also lifted by large-sized transactions, although overall deal volume did not experience a significant surge.

The gap between funding value and transaction numbers was especially visible in countries with a concentration of late-stage and infrastructure-based technology companies.

Southeast Asia Adds Four New Unicorns, None from Indonesia

Throughout 2025, Southeast Asia produced four new unicorn startups, most of them based in Singapore.

The new unicorns were Ultragrn.ai in green technology, Synut in enterprise technology, Thunes in cross-border payments, and Ashita Group in integrated manufacturing and trading.

Indonesia did not record any additional unicorns in 2025.

PHOTO: FREEPIK

This article was created with AI assistance.

We make every effort to ensure the accuracy of our content, some information may be incorrect or outdated. Please let us know of any corrections at [email protected].