Southeast Asia’s EV Startups Raise USD 622 Mn in Equity Funding: Tracxn
Southeast Asia’s top 16 EV startups have raised USD 622 milliom, led by Singapore’s Beam, SingAuto and Neuron.
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SEA’s (Southeast Asia’s) top 16 electric vehicle startups have collectively raised USD 622 million in equity funding, according to a report by market intelligence platform Tracxn. The list, titled “Top EV Startups in SEA Tech,” ranks companies based in Singapore, Indonesia, Thailand, and Vietnam by total disclosed equity funding.
The ranking includes companies with at least USD 5 million in cumulative equity funding and covers electric two-wheelers, commercial and marine EVs, battery-as-a-service, EV charging infrastructure, and mobility-as-a-service. All companies on the list were founded in 2016 or later.
Singapore leads the cohort with eight of the 16 companies, followed by Indonesia with four, and Thailand and Vietnam with two each. Most companies are at Series A or Series B stage, with 14 of the 16, or 87.5 per cent, in early-stage funding. Key investors backing companies across the list include Peak XV Partners, Jungle Ventures, GSR Ventures, TVS Motor, and Horizons Ventures.
Singapore-based mobility-as-a-service firm Beam tops the list with USD 135 million raised, backed by Affirma Capital, Hana Ventures, and Peak XV Partners. Singapore’s SingAuto follows with USD 95 million, while Neuron, also a mobility-as-a-service company from Singapore, has raised USD 78 million from GSR Ventures, SeedPlus, and Square Peg.
Vietnam’s Dat Bike has raised USD 51 million for its two-wheeler EV business, backed by Jungle Ventures, F.C.C, and Rebright Partners. Indonesia’s Alva and Charged, both two-wheeler EV makers based in Tangerang, have raised USD 50 million and USD 48 million respectively. Jakarta-based Maka, a Seed-stage two-wheeler EV company, has raised USD 38 million from AC Ventures, East Ventures, and SV Investment.
Other companies on the list include Singapore’s Ion Mobility (USD 31 million), Indonesia’s Swap (USD 29 million), and Singapore’s Scorpio (USD 16 million), all working across two-wheeler EVs and battery-as-a-service. Singapore’s Pyxis, focused on marine EVs, has raised USD 13 million, while Oyika, also from Singapore, has raised USD 11 million for battery-as-a-service.
Thailand’s Sleek and Charge+ from Singapore have raised USD 9 million and USD 8 million respectively. Vietnam’s Selex Motors and Thailand’s Haup close out the list with USD 5 million each, working on EV-OEM and charging infrastructure.
Neuron and Beam completed a merger in September 2025, forming Neuron Mobility Holdings, while continuing to operate both brands separately across their respective markets, per the report.
SEA’s (Southeast Asia’s) top 16 electric vehicle startups have collectively raised USD 622 million in equity funding, according to a report by market intelligence platform Tracxn. The list, titled “Top EV Startups in SEA Tech,” ranks companies based in Singapore, Indonesia, Thailand, and Vietnam by total disclosed equity funding.
The ranking includes companies with at least USD 5 million in cumulative equity funding and covers electric two-wheelers, commercial and marine EVs, battery-as-a-service, EV charging infrastructure, and mobility-as-a-service. All companies on the list were founded in 2016 or later.
Singapore leads the cohort with eight of the 16 companies, followed by Indonesia with four, and Thailand and Vietnam with two each. Most companies are at Series A or Series B stage, with 14 of the 16, or 87.5 per cent, in early-stage funding. Key investors backing companies across the list include Peak XV Partners, Jungle Ventures, GSR Ventures, TVS Motor, and Horizons Ventures.
Entrepreneur Staff • Editor
Entrepreneur Staff
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