Industry News

Singaporean tech firms have captured the lion’s share of Southeast Asia’s tech funding, accounting for 88% of the $2.6b raised in the first nine months of 2025, according to Tracxn’s latest report. This dominance comes amid a 7% drop in overall regional funding compared to the same period in 2024, and a significant 58% decrease from 2023.

The report highlights that whilst the overall funding environment has cooled, late-stage investments have shown resilience, with funding in this category more than doubling to $1.8b compared to $831m in 2024. Key sectors driving investment include Enterprise Applications, Enterprise Infrastructure, and FinTech, with the latter seeing a notable $839m in funding despite a decline from previous years.

Noteworthy funding rounds in 2025 include Digital Edge’s $640m Series D and MiniMax’s $300m Series D. However, the creation of new unicorns has slowed, with only one emerging this year compared to two in 2024.

Acquisitions have also declined, with 42 deals recorded, a 31% drop from the previous year. The largest acquisition was NinjaOne’s $270m purchase of Dropsuite. Meanwhile, IPO activity has surged, with 12 companies going public, including The GrowHub and Nusatrip.

The report underscores Singapore’s pivotal role in the region’s tech ecosystem, supported by major investors like East Ventures and 500 Global. As the funding landscape evolves, Singapore’s tech firms continue to lead, shaping the future of Southeast Asia’s tech industry.

The Responsible Fintech Institute (RFI), a newly established global nonprofit based in Singapore, has officially launched with the mission to integrate traditional and decentralised financial systems. Announced at the Digital Assets Summit 2025, RFI signed a Memorandum of Understanding with the Digital Assets Association to formalise their collaboration.

RFI’s founding members include Bison Group, OKG Technology, Remi Technology, VerifyVASP, and SlowMist. This coalition aims to develop digital utilities and foster collaboration among financial institutions, regulators, technology firms, and academia. “We are proud to stand with our founding members who share our vision for a more responsible and secure digital financial future,” said Chia Hock Lai, Chairman of RFI.

The institute’s first major initiative, the Verified Identity Trust Alliance (VITA), will help companies verify customer identities and comply with regulations such as Know Your Customer (KYC). VITA aims to increase trust and safety by providing a shared stamp of approval for digital wallets, reducing redundant checks, and protecting user privacy.

Bison Bank’s Chairman, Bian Fang, emphasised the importance of leveraging technology for a secure financial system, whilst OKG Technology’s CEO, Jeffery Ren, highlighted the need to balance innovation with responsibility. Remi Technology’s CEO, Sam Su, and VerifyVASP’s CEO, Shihyun Chia, also expressed their commitment to establishing standards and safeguards for digital finance.

RFI is poised to play a central role in shaping the future of finance, ensuring that digital innovation is built on trust and accountability.

Hyundai Motor Group Innovation Centre Singapore (HMGICS) is celebrating its first year of community engagement by launching new initiatives aimed at empowering young people and promoting sustainability in Singapore and the ASEAN region. The centre has announced partnerships with OceanX and Temasek Foundation to provide immersive educational experiences and foster youth development.

HMGICS’s collaboration with OceanX will offer Singaporean students hands-on experiences in ocean exploration, robotics, and sustainable mobility. The partnership kicked off with a learning day on 25 September, where students explored the OceanXplorer vessel and participated in workshops at HMGICS. OceanX will also join the HMGICS Annual Hackathon in 2026, contributing a robotics-based challenge and mentorship.

In addition, HMGICS has signed a memorandum of understanding with Temasek Foundation to support the 2025 Temasek Foundation Specialists’ Community Action and Leadership Exchange (SCALE) programme. This initiative will host 240 students from Singapore and ASEAN countries for immersive learning journeys at HMGICS, focusing on advanced manufacturing and sustainability.

Since its inception in 2023, HMGICS has played a crucial role in Hyundai’s transition to a smart mobility provider, integrating production, research and development, and customer experience. The centre’s initiatives align with Singapore’s vision for a sustainable, innovation-driven economy, aiming to nurture local talent and support economic transformation.

HMGICS continues to drive sustainable progress through its commitment to education, innovation, and community engagement, equipping the next generation with the skills to lead future industries.

iROO Singapore has been recognised as the runner-up for Fashion Retailer of the Year at the 2025 Singapore Retailers Association Awards. This accolade highlights iROO’s commitment to design innovation and operational excellence, as well as its dedication to delivering exceptional customer experiences.

The Singapore Retailers Association Awards celebrate outstanding achievements in the retail industry, recognising brands that set benchmarks in innovation, customer service, and brand excellence. iROO’s recognition further reinforces its commitment to offering fashion-forward collections and an elevated shopping experience.

Emily Huang, Chief Operating Officer of iROO Singapore, expressed her gratitude, stating, “We are truly honoured to receive this recognition. This achievement belongs to our entire iROO family — our dedicated staff who work tirelessly, our loyal customers who continue to inspire us, and our valued partners who support us every step of the way.”

Founded in 1999, iROO is a leading Taiwanese fashion label known for its “Weekly Collections,” which feature new designs every week. The brand focuses on empowering women with high-quality, statement pieces across five distinct styles: City Feminine, Urban Fashion, Classic Black & White, Cool-Tech, Sports, and Party.

As iROO continues to grow in Singapore, the brand remains focused on creating unique fashion moments whilst strengthening its service excellence and customer-first approach.

Singapore Management University’s Institute of Innovation & Entrepreneurship (SMU IIE) has introduced the Urban SustaInnovator, a pioneering accelerator programme aimed at advancing urban solutions and sustainability startups. Announced during the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), the initiative was launched by Chee Hong Tat, Minister for National Development.

The Urban SustaInnovator is designed to position SMU as a central hub for deep tech innovation in Asia, leveraging the LKYGBPC’s extensive global talent pool. This year, the competition attracted a record 1,572 applications from 91 countries, with 60 finalists vying for a prize pool of $1.8m (S$2.5m). The programme aims to connect startups with global networks and accelerate talent development, reinforcing Singapore’s status as a leading centre for innovation.

Chee emphasised the importance of the accelerator, stating, “This programme brings together venture capitalists, R&D experts, leading companies, and public agencies to mentor promising urban solutions and sustainability startups.” The accelerator will provide guidance on fundraising, market access, and R&D.

The Urban SustaInnovator is a 12-month, zero-equity, zero-fee programme supported by a consortium of public and private institutions, including A*STAR and ST Engineering. It aims to address critical urban challenges such as decarbonisation and sustainable construction, aligning with the Singapore Green Plan 2030.

Lim Sun Sun, SMU’s Vice President of Partnerships and Engagement, highlighted the programme’s potential, stating it could “catalyse revolutionary solutions for a more equitable, sustainable future.” The initiative is expected to significantly boost knowledge and skills transfer within Singapore’s workforce.

COSCO Shipping International (Singapore) Co., Ltd has announced a renounceable, non-underwritten rights issue involving 2.24 billion new ordinary shares. This strategic move aims to bolster the company’s capital base, providing existing shareholders the opportunity to purchase additional shares. The announcement was made on 29 September 2025 and is available on the company’s Investor Relations website.

The rights issue is designed to raise funds that will be utilised for various corporate purposes, enhancing the company’s financial flexibility. By offering these new shares, COSCO Shipping seeks to strengthen its capital structure and support future growth initiatives.

The rights issue is non-underwritten, meaning it does not have a guarantee from underwriters to purchase any unsubscribed shares. This approach allows the company to manage costs associated with the issuance whilst still providing shareholders with the option to increase their investment in the company.

This announcement is significant for investors as it reflects COSCO Shipping’s commitment to maintaining a robust financial position and pursuing growth opportunities. The proceeds from the rights issue will be allocated to strategic investments and operational enhancements, positioning the company for long-term success.

Huatai Securities has played a pivotal role in the China-Singapore Cross-Border Investment and Financing Conference, held recently in Singapore. Co-hosted by the China Association for Public Companies and the Bank of China Singapore Branch, the event aimed to bolster cross-border investment and financing for Chinese enterprises. This marks the third consecutive year Huatai Securities has organised the conference, demonstrating its commitment to facilitating international business collaborations.

The conference attracted 20 A-share listed companies from sectors such as consumer electronics, information technology, biomedicine, and advanced manufacturing. These companies presented roadshows to institutional investors, keen to explore China’s evolving investment landscape. Keynote speakers included Pan Guangbiao from the China Association for Public Companies, Hu Wei from the Bank of China Singapore Branch, and Liang Hong from Huatai Securities, who discussed actionable opportunities for investment between China and Singapore.

In 2025, Huatai Securities expanded its cross-border capabilities by securing an Issue Manager licence on the Singapore Exchange and obtaining Foreign Portfolio Investor registration in India. These strategic moves aim to deepen the integration of technology and innovation in China-Singapore financing discussions.

The event concluded with investor pitches and a forum on cross-border financing, reinforcing the capital connectivity between Chinese companies and Southeast Asia. Huatai Securities continues to position itself as a leader in facilitating global expansion for Chinese firms.

T. Rowe Price, a global asset management leader, has partnered with HSBC to introduce the T. Rowe Price Funds SICAV – Retirement Allocation Funds, exclusively available to HSBC clients in Singapore and Hong Kong. Launched on 29 September 2025, these funds are T. Rowe Price’s first retirement-focused products for retail investors in these markets, addressing the evolving retirement needs with flexible fund-switching options and regular income potential.

The funds utilise T. Rowe Price’s proprietary glide path, which strategically adjusts asset allocation between equities and bonds over time. This approach is designed to optimise growth and manage risk, with tactical overlays by portfolio managers to adapt to market changes. The Retirement Allocation Fund – 1 targets post-retirement investors, focusing on sustainable withdrawals, whilst the Retirement Allocation Fund – 2 is aimed at pre-retirement investors, emphasising capital accumulation.

Glen Lee, Singapore CEO of T. Rowe Price, highlighted the importance of adaptable investment solutions, stating, “Our 2025 Retirement Survey shows a significant portion of Hong Kong and Singapore respondents are embracing non-conventional retirement models. This demands adaptable investment solutions.”

Sami Abouzahr from HSBC emphasised the collaboration’s alignment with HSBC’s retirement-focused products, noting the importance of balancing asset growth with stability and flexibility. Thomas Poullaouec of T. Rowe Price added that the funds leverage over two decades of expertise in managing glide path-driven retirement solutions, helping investors navigate their retirement journey amidst global market uncertainties.

T. Rowe Price manages over $1.1t in retirement-related assets globally, reinforcing its commitment to supporting Asian investors as the region transitions into “super-aged” societies.

The Wealth Management Institute (WMI) has announced a partnership with the Private Banking Industry Group (PBIG) to strengthen philanthropy advisory capabilities within Singapore’s private banking sector. This initiative, revealed at the Global Family Office Summit on 29 September 2025, seeks to position Singapore as a leading hub for effective philanthropy in Asia.

Since launching the Impact Philanthropy Partnership (IPP) in 2023, WMI and PBIG have facilitated forums and roundtables, producing seven research reports on topics like catalytic giving and donor-advised funds. The new phase focuses on enhancing the skills of client-facing advisers to align financial strategies with long-term legacy planning, addressing the growing demand for values-based philanthropy.

Young Jin Yee, Co-head of UBS Global Wealth Management APAC and Chair of the PBIG Philanthropy Workgroup, highlighted the need for skilled advisers. “Families want trusted partners who can engage in meaningful conversations about values, legacy, and purpose,” she said. This collaboration aims to equip advisers to support these aspirations and foster greater impact awareness among clients.

WMI’s philanthropy programmes have seen significant enrolment, with about 600 participants since 2022. New initiatives, including a Certificate in Philanthropy and Social Impact for Greater China Markets, are set to launch in November 2025. Foo Mee Har, CEO of WMI, noted that philanthropy often unites generations, emphasising the importance of informed and actionable conversations.

Beyond training, WMI and PBIG are exploring ways to elevate Singapore’s role as a philanthropy hub, potentially through convenings, advocacy, and research. With its robust financial ecosystem and regional connectivity, Singapore aspires to be a global centre for philanthropy, gathering leading philanthropists and thinkers to drive meaningful social impact.

The Monetary Authority of Singapore (MAS), in collaboration with industry partners, has published a technical report detailing a proof-of-concept sandbox for quantum-safe communications within the financial sector. This initiative aims to address the growing need for enhanced security measures as quantum computing advances pose potential threats to current encryption methods.

The report, released on 29 September, outlines the development and testing of quantum-safe communication protocols designed to protect sensitive financial data. The sandbox environment allows financial institutions to experiment with these protocols in a controlled setting, ensuring their effectiveness and reliability before wider implementation.

MAS emphasises the importance of this development, stating that it is crucial for the financial sector to stay ahead of technological threats. “As quantum computing technology evolves, it is imperative that we prepare our financial systems to withstand potential security challenges,” the report notes.

The collaboration includes various industry stakeholders who contributed to the research and testing phases. This collective effort underscores the sector’s commitment to safeguarding data integrity and confidentiality in an increasingly digital landscape.

Looking ahead, the findings from this sandbox could pave the way for broader adoption of quantum-safe technologies across the financial industry, reinforcing Singapore’s position as a leader in financial innovation and security.