China Tops the List with Funding Flow Exceeding Rp 283 Trillion

Startup funding in Asia rose in the first quarter of this year, propelled by a recovery in venture capital investments in China. In the first quarter of 2026, funding flows to startups in that country reached US$16.5 billion, or approximately Rp 283 trillion.

Crunchbase data indicates that total startup funding in Asia amounted to US$27.4 billion throughout the first quarter of this year. This figure represents an increase of about 20% compared to the previous quarter and nearly double the amount from the same period last year.

Of this total, around 60% of the funds flowed to China-based startups. This marks the third consecutive quarter of rising venture capital funding to the country following a slump in the first half of 2025.

The surge in investments in China was driven by the artificial intelligence (AI) sector. The largest funding rounds across the board went to AI-based companies, ranging from foundational model developer StepFun, agentic AI firm Moonshot AI, to AI robot developer Galaxy Bot.

After China, the next largest recipient of venture funding in Asia was India, with investments amounting to US$3.8 billion in the first quarter, the highest in the last four quarters. Much of this funding flowed into the quarter’s largest equity round, namely US$600 million for AI systems developer Neysa.

Citing Crunchbase, overall, startup funding in Asia increased across all stages, from seed to later stages. Later-stage funding absorbed the largest share at US$11.7 billion, including a Series C round worth US$2 billion for Singapore-based data centre company DayOne.

Meanwhile, early-stage funding reached US$11.2 billion, nearly doubling from the previous year. On the other hand, seed funding hit US$3.6 billion, up 85% year-on-year, with AI as the primary driver.

By sector, AI startups emerged as the biggest winners. Throughout the first quarter, AI companies in Asia successfully raised around US$11.2 billion, the highest on record according to Crunchbase.

Overall, the quarterly figures demonstrate increasing momentum in China’s startup ecosystem, which is driving the rise in total funding across Asia. Investments in startups in India, Singapore, and South Korea also increased, while funding to Israel dipped slightly.

Overall, this quarter is considered solid, with signals of optimism for the Asian region’s startup pipeline moving forward.