UAE’s G42 to lead $500mn funding round of Astra Tech

UAE’s G42 to lead $500mn funding round of Astra Tech

Astra Tech (Astra), a UAE-born consumer technology development and investment company, has revealed that G42, the UAE’s leading AI and cloud computing technology holding group, will be taking the role of Lead Investor in its latest funding round of $500 million.

Backed by prominent global and regional investors, the round is meant to equip Astra Tech with the resources to expand its portfolio of smart solutions across eCommerce, communications, fintech, news, and more.

Peng Xiao

Group CEO – G42 “At G42, we are continuously seeking to combine exceptional human talent with the necessary technical and financial resources to enable the development of the most advanced AI-powered- solutions for both the public and private sectors. We are pleased to be supporting Astra Tech with its latest round of funding, one that will establish it as the go-to regional platform for consumer technology and services.”

Mr. Abdallah Abu Sheikh, founder & CEO of Astra Tech, said that “As we celebrate this new milestone, we are grateful for the confidence and trust our partners and investors have placed in us. Our disruptive next-generation ultra-platform will bring together selected consumer technologies, products, and services and is specifically designed to address the platform fatigue many users are experiencing today.