165 views
Photo by Life Of Pix via Pexels.

Food tech, industrial products lead manufacturing innovation based on deal volume – study

Private capital injected in food tech and industrial products in 2023 shows investors’ focus on the future.

Equity capital is still being channelled to industries that impact the future, a report by DealStreetAsia in partnership with Enterprise Singapore revealed.

According to “Singapore Venture Funding Landscape 2023: A Full-Year Study,” the verticals under Manufacturing, Trade, and Connectivity that received the most private capital were food tech and industrial products. 

“The resolute focus on the future has continued to sustain interest in sectors such as industrial products, food tech, mobility tech, and agritech,” the report read.

“Commitments to the future of food sustainability remain strong, with alternative food products and agricultural solutions accounting for most of the deal activity in the food tech and agritech sectors,” it added.

The total value for food tech was $31.05m (US$23m) in 2023, lower than $145.8m (US$108m) in 2022, whilst industrial products surged to $250.1m (US$186m) from $5.4m (US$4m) in the same period. 

Silicon Box made the highest equity deal under industrial products. This was valued at $187.65m (US$139m), with investors from BlueRun Ventures, Maverick Capital, TDK Ventures, and UMC Capital. 

ALSO READ: Silicon Box to build a $4.8b semiconductor facility in Italy

The funding will be used to build a semiconductor packaging fab in Singapore.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!