A Growing Funding Landscape
Singapore’s metaverse startup ecosystem is attracting significant capital, with the top 16 immersive companies having raised a combined US$204 million, predominantly at seed and early stages. The sector comprises 62 metaverse companies, including 34 funded ventures, indicating a maturing ecosystem with substantial depth beyond a handful of high-profile players. Apeiron, Affyn, and StarryNift lead the 2026 rankings in a field mostly founded since 2020, demonstrating the rapid formation of a specialised metaverse industry cluster in the city-state. This concentration of early-stage activity suggests that Singapore is successfully nurturing the next generation of metaverse innovation.
Notable Funding Rounds and Market Confidence
Recent funding activity illustrates investor confidence in Singapore’s metaverse ventures. Tomoland, founded in 2025 and based in Singapore, raised US$2 million in May 2026 led by Sky9 Capital with participation from WAGMI Ventures and Aureus Dealers, alongside angel investors from Meta and Depinx Capital. The company is bridging its proven mobile gaming foundation with Web3 capabilities, developing an AI-powered user-generated content platform. Connectome raised US$2 million in pre-seed funding for its decentralised “AI × AR × Blockchain” technology targeting smart space applications. These early-stage investments indicate that venture capital is actively seeking metaverse-related opportunities in Singapore despite broader market fluctuations in the sector.
Incubators and Corporate Partnerships
The Spark Incubator programme, a partnership between Huawei and IMDA’s PIXEL Innovation Hub, represents a structured approach to metaverse startup development. The programme targets early-stage Singapore-based startups from sectors including fintech, Web3, metaverse, and SaaS, aiming to support their growth to Series A and expansion across Singapore and the ASEAN region. Participants receive HUAWEI CLOUD credits up to US$60,000, fee-free processing through Stripe, and mentorship from industry partners including MasterCard, Monk’s Hill, GSR Ventures, Lion X Ventures, OCBC, and DocuSign. This corporate-backed incubation model provides metaverse startups with the resources and networks needed to commercialise their technologies effectively.
Diversified Metaverse Business Models
Singapore’s metaverse startups span diverse business models, from ZTX’s Web3 social metaverse platform developing an AI agent gaming ecosystem on its Creator Chain to Smobler Studios’ metaverse architecture and design agency serving clients including Meta, Mighty Jaxx, and The Food Bank Singapore. MyLearnZone provides end-to-end metaverse immersive experience solutions for businesses and educational institutions, leveraging mixed reality, virtual training, digital humans, and blockchain infrastructure. XCN focuses on user-generated content development within its metaverse platform, including 3D models and scripted assets. This diversity of business models reduces ecosystem vulnerability to sector-specific downturns and positions Singapore as a comprehensive metaverse hub.
The 2026 Data Point: US$204 Million Raised
The US$204 million raised by Singapore’s top immersive companies represents more than capital—it signals validation of the city-state’s approach to metaverse ecosystem development. With most companies at seed stage, this figure is likely to grow substantially as these ventures mature and raise subsequent rounds. The presence of international investors alongside local funds suggests that Singapore’s metaverse startups are viewed as globally competitive, not merely regional players. For industry observers, this funding trajectory indicates that despite periodic fluctuations in metaverse enthusiasm globally, Singapore’s ecosystem continues to attract serious, long-term capital.
