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Abu Dhabi’s G42 leads Astra Tech’s $500m funding round

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DUBAI: UAE-based consumer tech platform Astra Tech has tapped Abu Dhabi-based G42 as lead investor in its $500 million funding round. The additional funding will allow Astra Tech to expand its portfolio of solutions in e-commerce, fintech and communications.

Abdallah Abu Sheikh, Founder and CEO of Astra Tech, said: “Our disruptive next-generation super platform will bring together a curated selection of consumer technologies, products and services, specifically designed to address the platform fatigue that many users are experiencing today.”

“We are constantly seeking to align with the dynamics of the nation’s digital transformation by providing an innovative and revolutionary ecosystem that goes beyond what a super-platform can offer today.”

G42, which focuses on artificial intelligence and health tech, has been operating an active portfolio, and Asian tech exposure should be viewed in this light.

“We are constantly seeking to combine exceptional talent with the necessary technical and financial resources to develop state-of-the-art AI solutions for the public and private sectors,” said Peng Xiao, CEO of G42 Group. funding to support Astra Tech, which will establish it as the go-to regional platform for consumer technology and services.”

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