{"id":5220,"date":"2025-12-23T12:29:41","date_gmt":"2025-12-23T12:29:41","guid":{"rendered":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/?page_id=5220"},"modified":"2026-01-16T11:01:16","modified_gmt":"2026-01-16T11:01:16","slug":"report-se-asia-nov-2025","status":"publish","type":"page","link":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-se-asia-nov-2025\/","title":{"rendered":"SE Asia Deals Barometer: Startup funding rebounds in Nov sans megadeals"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5220\" class=\"elementor elementor-5220\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3b5f848 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"3b5f848\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d377be0\" data-id=\"d377be0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e9804d9 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e9804d9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-inner-column elementor-element elementor-element-2e6c818\" data-id=\"2e6c818\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a5ba58 elementor-widget elementor-widget-heading\" data-id=\"2a5ba58\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">SE Asia Deals Barometer Report: Startup funding rebounds in Nov sans megadeals<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-b7820ee\" data-id=\"b7820ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-d42463d elementor-widget elementor-widget-image\" data-id=\"d42463d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1173\" height=\"753\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-192509.png\" class=\"attachment-full size-full wp-image-5225\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-192509.png 1173w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-192509-300x193.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-192509-1024x657.png 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-192509-768x493.png 768w\" sizes=\"(max-width: 1173px) 100vw, 1173px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d07eae8 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"d07eae8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-ca53bb7\" data-id=\"ca53bb7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-4c5e6ca\" data-id=\"4c5e6ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-ad2864f\" data-id=\"ad2864f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bf88951 elementor-widget elementor-widget-html\" data-id=\"bf88951\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"card-footer bg-white div-social-icons new d-print-none\">\r\n    <ul class=\"nav\">\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-facebook-f\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-twitter\"><\/i><\/a>\r\n        <\/li>\r\n\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\"><i class=\"fa fa-envelope\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <div class=\"dropdown-social\">\r\n                <a class=\"nav-link dropdown-toggle\" type=\"button\" id=\"dropdownMenuButton1\" data-bs-toggle=\"dropdown\" aria-expanded=\"false\"><i class=\"fa fa-share-alt\"><\/i><\/a>\r\n                <div class=\"dropdown-menu dropdown-menu-right\" aria-labelledby=\"dropdownMenuButton1\">\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-reddit-alien fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-linkedin fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\" data-action=\"\/share\/whatsapp\/share\"><i class=\"fa fa-whatsapp fa-2x\"><\/i><\/a>\r\n                <\/div>\r\n            <\/div>\r\n        <\/li>\r\n\r\n    <\/ul>\r\n<\/div>\r\n\r\n\r\n\r\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-8f62853\" data-id=\"8f62853\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a0c6836 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"a0c6836\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-04f3e7d\" data-id=\"04f3e7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e0f1be1 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e0f1be1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-1b79b7d h-100\" data-id=\"1b79b7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce75793 elementor-widget elementor-widget-text-editor\" data-id=\"ce75793\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>By <a href=\"https:\/\/www.dealstreetasia.com\/author\/mars-woo\/\">Mars W. Mosqueda Jr.<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43ae895 elementor-widget elementor-widget-text-editor\" data-id=\"43ae895\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>15 December, 2025<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3312e6a elementor-widget elementor-widget-html\" data-id=\"3312e6a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"card-footer bg-white div-social-icons d-print-none\">\r\n    <ul class=\"nav\">\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-facebook-f\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-twitter\"><\/i><\/a>\r\n        <\/li>\r\n\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\"><i class=\"fa fa-envelope\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <div class=\"dropdown-social\">\r\n                <a class=\"nav-link dropdown-toggle\" type=\"button\" id=\"dropdownMenuButton1\" data-bs-toggle=\"dropdown\" aria-expanded=\"false\"><i class=\"fa fa-share-alt\"><\/i><\/a>\r\n                <div class=\"dropdown-menu dropdown-menu-right\" aria-labelledby=\"dropdownMenuButton1\">\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-reddit-alien fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-linkedin fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\" data-action=\"\/share\/whatsapp\/share\"><i class=\"fa fa-whatsapp fa-2x\"><\/i><\/a>\r\n                <\/div>\r\n            <\/div>\r\n        <\/li>\r\n\r\n    <\/ul>\r\n<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0c1e279 less-content\" data-id=\"0c1e279\" data-element_type=\"column\" id=\"showContent\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a38e8d5 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"a38e8d5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Startup funding in Southeast Asia rebounded in November, supported by a cluster of mid- and late-stage cheques, even as the market again went without a $100 million-plus megadeal.<\/p><p>Privately-held companies in the region raised approximately $393.6 million across 36 equity deals last month, according to proprietary data compiled by DealStreetAsia. That was up about 23% from the roughly <a href=\"https:\/\/www.dealstreetasia.com\/stories\/se-asia-deal-review-october-2025-463149\">$320 million raised from<\/a> the same number of equity deals in October.<\/p><p>On a year-on-year basis, too, fundraising was higher in the month. In November 2024, there were 34 deals that raised about $220 million, implying a surge of 79% in value, while the number of transactions rose a tad.<\/p><div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/26803732\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/26803732\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div><p>The November dataset encompasses venture capital and private equity deals, as well as corporate rounds, but debt transactions were excluded, in accordance with DealStreetAsia&#8217;s monthly scorecard approach.<\/p><p>While November did not record any megadeals, the month still saw a modest improvement in average cheque sizes based on our analysis of disclosed transactions.<\/p><p>DealStreetAsia\u2019s data showed the average disclosed deal size in November was $13.6 million, up from October\u2019s $12.8 million, underscoring that November\u2019s higher monthly total was driven more by slightly larger rounds than by an increase in deal volume.<\/p><h3 style=\"text-align: center;\">Top Deals of November 2025 in SE Asia<\/h3><p style=\"text-align: center;\">\n<table id=\"tablepress-162\" class=\"tablepress tablepress-id-162\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\">Name<\/th><th class=\"column-2\">Headquarters<\/th><th class=\"column-3\">Amount Raised<\/th><th class=\"column-4\">Funding Type<\/th><th class=\"column-5\">Lead Investor\/s<\/th><th class=\"column-6\">Industry<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">Amperesand<\/td><td class=\"column-2\">Singapore<\/td><td class=\"column-3\">$80,000,000<\/td><td class=\"column-4\">Series A<\/td><td class=\"column-5\">Temasek Holdings, Walden Catalyst<\/td><td class=\"column-6\">Utility<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Roojai<\/td><td class=\"column-2\">Thailand<\/td><td class=\"column-3\">$60,000,000<\/td><td class=\"column-4\">Series C<\/td><td class=\"column-5\">Apis Partners, Asia Partners Fund Management<\/td><td class=\"column-6\">Fintech<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Video Rebirth<\/td><td class=\"column-2\">Singapore<\/td><td class=\"column-3\">$50,000,000<\/td><td class=\"column-4\">Venture &#8211; Unclassified<\/td><td class=\"column-5\"><\/td><td class=\"column-6\">Data analytics; AI\/ML<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Blue Planet Environmental Solution<\/td><td class=\"column-2\">Singapore<\/td><td class=\"column-3\">$30,000,000<\/td><td class=\"column-4\">Private Equity<\/td><td class=\"column-5\">Novo Holdings<\/td><td class=\"column-6\">Green tech<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">COOLMATE<\/td><td class=\"column-2\">Vietnam<\/td><td class=\"column-3\">$22,336,400<\/td><td class=\"column-4\">Series C<\/td><td class=\"column-5\">Vertex Growth Fund<\/td><td class=\"column-6\">E-commerce<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-162 from cache --><\/p><p>Unlike September, when fundraising rebounded on the back of a $188 million private equity cheque into UltraGreen.ai, November\u2019s total was built on a handful of mid-sized rounds rather than a single outsized transaction.<\/p><p>The biggest disclosed deal in the month was signed by <a href=\"https:\/\/www.dealstreetasia.com\/stories\/amperesand-series-a-464149\/\">Amperesand<\/a>, a Singapore-based startup providing power grid infrastructure solutions. The startup raised $80 million in its Series A funding round co-anchored by Temasek and Walden Catalyst Ventures.<\/p><p>The second-largest was cornered by Thai digital insurer <a href=\"https:\/\/www.dealstreetasia.com\/stories\/apis-asia-partners-roojai-funding-464602\/\">Roojai<\/a>, which raised $60 million in a Series C funding round co-led by UK private equity firm Apis Partners and growth equity investor Asia Partners.<\/p><p>Other notable transactions included Video Rebirth (Singapore), which raised $50 million from global financial and strategic backers; Blue Planet Environmental Solutions (Singapore), which secured $30 million in a private equity round led by Novo Holdings in green tech; and Vietnam\u2019s COOLMATE, which raised $22.34 million in a Series C round led by Vertex Growth Fund in e-commerce.<\/p><blockquote><p style=\"text-align: center;\"><em>Fundraising remained concentrated at the top even without a megadeal.<\/em><\/p><\/blockquote><p>Together, these top five deals accounted for roughly $242.3 million, or a little over 60% of November\u2019s total, implying fundraising remained concentrated at the top even without a megadeal.<\/p><p>That compares with October, when DealStreetAsia\u2019s data showed the largest round was $70 million (Endowus), and the market also recorded no $100 million-plus transactions, with deal value more evenly spread among mid-sized rounds.<\/p><p>The rebound in November comes as Southeast Asia witnessed the weakest quarter for equity funding in over six years in Q3. Only 112 deals were sealed in the three months ended September, the lowest quarterly count in more than six years, according to the <a href=\"https:\/\/www.dealstreetasia.com\/reports\/southeast-asia-deal-review-q3-2025\">Southeast Asia Deal Review: Q3 2025<\/a>\u00a0report by DealStreetAsia DATA\u00a0<em>VANTAGE<\/em>.<\/p><h3>Singapore corners 70% of November deal value<\/h3><p>DealStreetAsia\u2019s compilation showed Singapore-headquartered startups raised about $274 million across 23 deals, representing roughly 70% of the region\u2019s November total.<\/p><p>While still dominant, that share was less concentrated than in October, when Singapore accounted for about $261.8 million, or about 82% of the region\u2019s monthly total, highlighting a slight broadening of fundraising beyond the city-state.<\/p><div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/26803749\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/26803749\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div><p>Three of the top five deals in November were in Singapore, inked by Amperesand, Video Rebirth, and Blue Planet Environment. The city-state&#8217;s average deal size, based on transactions with disclosed amounts, stood at $14.4 million, down from $16.4 million in October.<\/p><p>Thailand ranked second in November, in terms of deal value, with $60.3 million across two deals, largely driven by Roojai\u2019s Series C round. Vietnam recorded $22.34 million across two deals, supported by COOLMATE\u2019s Series C funding round, which was the fifth-largest in the region.<\/p><p>Indonesia logged $18.7 million across three deals, down from October\u2019s $46.8 million, when the country&#8217;s total was boosted by a $35 million funding round for credit card issuer Honest.<\/p><p>The Philippines raised $8.3 million across three deals, higher than October\u2019s $2.85 million across two transactions, while Malaysia posted $10 million across two deals. One deal in Cambodia appeared in the dataset without a disclosed amount.<\/p><h3>Fintech leads<\/h3><p>By sector, fintech remained the most active vertical in November, with eight deals totalling $90 million, based on DealStreetAsia\u2019s compilation, with Roojai&#8217;s $60 million Series C funding topping the list.<\/p><p>However, fintech\u2019s share of overall fundraising was smaller than in October, when startups in the sector amassed $169 million across 10 deals, or around 53% of the region\u2019s total.<\/p><div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/26803774\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/26803774\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div><p>In November, the biggest boost to total value came from utilities, which contributed $80 million, driven by Ampersand\u2019s Series A. Data analytics\/AI drew $62 million across four deals, reflecting continued investor appetite for AI-adjacent models even as the funding environment remains selective.<\/p><p>E-commerce raised $40.94 million across two deals, while software &amp; IT gathered $26.5 million across three transactions. Healthcare\/healthtech posted seven deals, the second-highest sector deal count, though total funding was a more modest $20.83 million, suggesting smaller average cheques in that category.<\/p><p>Other verticals included cybersecurity ($10 million across two deals), green tech ($30 million), lifestyle ($15 million), and smaller categories such as telecommunications ($4.05 million), restaurant tech ($5 million), marketing tech ($5 million), food tech ($2.6 million) and adtech ($1.7 million).<\/p><h3>Large cheques are still scarce<\/h3><p>While November\u2019s value rose from October, the stage mix suggests the rebound was driven by larger late-stage and growth rounds, rather than a broad lift across early-stage activity.<\/p><p>Series C rounds totalled $102.34 million across three deals, while Series A transactions contributed $100 million across two deals. Together, Series A and Series C made up just over $200 million, or a little more than half of November\u2019s total.<\/p><p>At the same time, seed remained the busiest by count, with 15 deals, but they raised only a combined $42.53 million, highlighting smaller average tickets at that stage. Pre-seed rounds contributed $18 million across five deals.<\/p><div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/26803783\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/26803783\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div><p>Venture-unclassified rounds added $75.75 million across six deals, underlining how a meaningful share of monthly fundraising continues to be captured in rounds whose stages are not disclosed.<\/p><p>The month also included two corporate rounds totalling $15 million, and one private equity deal worth $30 million and one Series B deal worth $10 million, indicating a mix of funding structures even in a month without megadeals.<\/p><h3>Debt rounds<\/h3><p>There were three debt deals in November that were not included in the monthly deal scorecard.<\/p><p>Among the notable debt deals during the month, Malaysia&#8217;s <a href=\"https:\/\/www.dealstreetasia.com\/stories\/asia-digest-carsome-capital-naver-464717\/\">Carsome<\/a> secured a new revolving working capital facility worth $36.3 million from MUFG Bank (Malaysia) Berhad.<\/p><p>Vietnamese co-development studio Gears Games also secured $5 million in debt financing from UA and monetisation platform Metica to scale its title Arcane Rush: Auto Battler.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c209b1 elementor-align-center viewReport elementor-widget elementor-widget-button\" data-id=\"3c209b1\" data-element_type=\"widget\" id=\"viewReportIndia\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span 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class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-bdf2a4a\" data-id=\"bdf2a4a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df00843 elementor-widget elementor-widget-heading\" data-id=\"df00843\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Related Stories<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3659160 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3659160\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 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100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cf5642e elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"cf5642e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2f5636a\" data-id=\"2f5636a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b5451f elementor-widget elementor-widget-text-editor\" data-id=\"7b5451f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Venture Capital<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dea15d5 elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"dea15d5\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-image-box .elementor-image-box-content{width:100%}@media (min-width:768px){.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper,.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{display:flex}.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{text-align:right;flex-direction:row-reverse}.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper{text-align:left;flex-direction:row}.elementor-widget-image-box.elementor-position-top .elementor-image-box-img{margin:auto}.elementor-widget-image-box.elementor-vertical-align-top .elementor-image-box-wrapper{align-items:flex-start}.elementor-widget-image-box.elementor-vertical-align-middle .elementor-image-box-wrapper{align-items:center}.elementor-widget-image-box.elementor-vertical-align-bottom .elementor-image-box-wrapper{align-items:flex-end}}@media (max-width:767px){.elementor-widget-image-box .elementor-image-box-img{margin-left:auto!important;margin-right:auto!important;margin-bottom:15px}}.elementor-widget-image-box .elementor-image-box-img{display:inline-block}.elementor-widget-image-box .elementor-image-box-title a{color:inherit}.elementor-widget-image-box .elementor-image-box-wrapper{text-align:center}.elementor-widget-image-box .elementor-image-box-description{margin:0}<\/style><div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-china-nov-2025\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"1479\" height=\"986\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193136.png\" class=\"attachment-full size-full wp-image-5229\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193136.png 1479w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193136-300x200.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193136-1024x683.png 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193136-768x512.png 768w\" sizes=\"(max-width: 1479px) 100vw, 1479px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-china-nov-2025\/\">Greater China Deals Barometer Report: Startup funding slows down in Nov as mega deals dwindle<\/a><\/h3><p class=\"elementor-image-box-description\">Startup funding in Greater China slowed down in November amid a sudden drop in big-ticket investments.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3a38c60\" data-id=\"3a38c60\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0312bf elementor-widget elementor-widget-text-editor\" data-id=\"f0312bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Venture Capital<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7ed5ef elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"b7ed5ef\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-india-nov-2025\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"851\" height=\"523\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193254.png\" class=\"attachment-full size-full wp-image-5230\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193254.png 851w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193254-300x184.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2025\/12\/Screenshot-2025-12-23-193254-768x472.png 768w\" sizes=\"(max-width: 851px) 100vw, 851px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-india-nov-2025\/\">India Deals Barometer Report: Startup funding halves to $922m in Nov, megadeals dry up<\/a><\/h3><p class=\"elementor-image-box-description\">Startup funding in India nearly halved month-on-month to $922 million across 105 venture capital and private equity transactions in November, according to proprietary data compiled by DealStreetAsia.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>SE Asia Deals Barometer Report: Startup funding rebounds in Nov sans megadeals By Mars W. Mosqueda Jr. 15 December, 2025 Startup funding in Southeast Asia rebounded in November, supported by a cluster of mid- and late-stage cheques, even as the market again went without a $100 million-plus megadeal. Privately-held companies in the region raised approximately [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":5225,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-parts\/elementor-sidebar-template.php","meta":{"footnotes":""},"deals-type":[],"class_list":["post-5220","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/5220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/comments?post=5220"}],"version-history":[{"count":9,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/5220\/revisions"}],"predecessor-version":[{"id":5277,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/5220\/revisions\/5277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media\/5225"}],"wp:attachment":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media?parent=5220"}],"wp:term":[{"taxonomy":"deals-type","embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/deals-type?post=5220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}