Funds don’t come easy for Singapore’s deep tech startups

Deal Street Asia

Quest Ventures provided its opinion to Deal Street Asia on the deep tech ecosystem of Singapore and its current state of investment.

“The deep tech top-up comes at an important time when the current batch of deep tech startups are mostly struggling to raise funding,” said Quest Ventures through a spokesperson. Quest focuses on early-stage digital commerce investments in China and Southeast Asia, and its mandate covers deep tech.

The Quest spokesperson said that while access to capital was important for deep tech startups in Singapore, the bigger challenge lies in growing the ecosystem as a whole.

“Despite the resources spent, Singapore as an ecosystem is not as well-known as other cities such as Silicon Valley, Israel or Japan as deep tech hubs,” Quest said. “It is time to relook at the deep tech sector and work with different parties to push this forward.””

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