Pune: SEA Tech Top EV Startups are emerging as key players in Southeast Asia’s clean mobility ecosystem, with 16 prominent electric vehicle companies collectively raising $622 million in equity funding, according to a Tracxn listicle.
The companies are primarily based across Singapore, Indonesia, Thailand and Vietnam, and all were founded in 2016 or later.
The SEA Tech Top EV Startups list highlights companies developing solutions across electric two-wheelers, commercial electric vehicles, battery swapping and battery-as-a-service, EV charging infrastructure, and mobility solutions.
The cohort reflects the growing diversity of Southeast Asia’s electric mobility ecosystem and the technologies being developed to support cleaner and more efficient transportation.
According to Tracxn, the 16 SEA Tech Top EV Startups have collectively secured $622 million in disclosed equity funding.
The companies included in the ranking have raised at least $5 million in total equity funding and are ranked according to their disclosed cumulative equity funding as of the data cutoff date of August 24, 2026.
Singapore accounts for half of the SEA EV startup cohort
Singapore accounts for eight of the 16 SEA Tech Top EV Startups, making it the largest contributor to the cohort. Indonesia follows with four companies, while Thailand and Vietnam account for two companies each.
The distribution highlights Singapore’s position as a major hub for electric vehicle innovation in Southeast Asia. The SEA Tech Top EV Startups span multiple stages of development, from Seed to Series B, with most companies positioned at the Series A or Series B stage.
Tracxn said 87.5%, or 14 out of 16 companies, are at the early stages represented by Series A or Series B. All the companies in the list were founded in 2016 or later, reflecting the relatively young nature of the region’s electric mobility startup ecosystem.
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SEA Tech Top EV Startups Cover Multiple Clean Mobility Segments
The SEA Tech Top EV Startups featured in the Tracxn ranking operate across a broad range of electric mobility technologies.
The companies include electric vehicle original equipment manufacturers focused on two-wheelers, commercial vehicles and marine applications. The list also includes businesses operating in battery-as-a-service, EV charging infrastructure and mobility-as-a-service.
The diversity of focus areas among the SEA Tech Top EV Startups demonstrates the breadth of Southeast Asia’s emerging EV ecosystem, extending beyond vehicle manufacturing to supporting infrastructure, battery solutions and mobility platforms.
Investors back Southeast Asia’s EV ecosystem
The SEA Tech Top EV Startups have attracted funding from a mix of regional and global institutional and corporate investors.
Among the investors identified by Tracxn are Peak XV Partners, Jungle Ventures, GSR Ventures, TVS Motor and Horizons Ventures. The ranking also identifies other investors associated with individual companies, including Affirma Capital, Hana Ventures, SeedPlus, Square Peg, F.C.C, Rebright Partners, DeClout, AC Ventures, East Ventures and SV Investment.
The funding data shows that investor interest extends across different areas of Southeast Asia’s EV ecosystem, including electric two-wheelers, commercial EVs, marine EVs, battery-as-a-service and charging infrastructure.
Top-funded companies in the ranking
The SEA Tech Top EV Startups ranking includes companies with disclosed equity funding ranging from $5 million to $135 million.
The highest-funded company in the list has raised $135 million, with Affirma Capital, Hana Ventures and Peak XV Partners identified among its key investors. Its key focus area is mobility-as-a-service.
The second-highest funded company has raised $95 million and operates as a commercial EV original equipment manufacturer.
Another Singapore-based mobility-as-a-service company has raised $78 million, with GSR Ventures, SeedPlus and Square Peg among its key investors.
A Vietnam-based electric two-wheeler EV-OEM has raised $51 million, while an Indonesia-based electric two-wheeler company has secured $50 million. The ranking also features an Indonesia-based company that has raised $48 million across electric two-wheelers and battery-as-a-service.
Other companies in the SEA Tech Top EV Startups ranking have raised between $38 million and $5 million. These include startups working in electric two-wheelers, battery-as-a-service, marine EVs and EV charging infrastructure.
Electric two-wheelers remain a major focus
Electric two-wheelers represent a significant portion of the SEA Tech Top EV Startups cohort. The ranking includes several EV-OEMs focused on two-wheelers across Singapore, Indonesia, Vietnam and Thailand.
The list also includes companies combining electric two-wheelers with battery-as-a-service, highlighting the role of battery-related solutions within the region’s developing EV ecosystem.
Battery and charging infrastructure also feature prominently
Beyond vehicle manufacturing, the SEA Tech Top EV Startups list includes startups focused on battery-as-a-service and EV charging infrastructure.
One Indonesia-based company has raised $48 million for its electric two-wheeler and battery-as-a-service operations, while another Indonesia-based battery-as-a-service company has raised $29 million. A Singapore-based company focused on battery-as-a-service has raised $11 million.
The ranking also includes Singapore-based EV charging infrastructure companies that have raised $8 million and $5 million respectively.
Southeast Asia’s young EV startup ecosystem
The SEA Tech Top EV Startups ranking provides a snapshot of an emerging electric mobility ecosystem across four Southeast Asian markets. All 16 companies were founded in 2016 or later, while 14 are currently at Series A or Series B stages.
Tracxn said the companies were selected based on Southeast Asia being their primary location, regardless of where they operate. All funding figures refer to equity funding and are reported in US dollars, while decimals have been rounded to the nearest whole number.
The SEA Tech Top EV Startups list therefore captures a young group of companies spanning mobility services, EV manufacturing, battery solutions and charging infrastructure, collectively representing $622 million in disclosed equity funding.
