As the year comes to an end, startup funding in Asia is showing signs of slowing down, with this week’s total reaching $76 million—a significant drop from last week’s $376 million. Investors appear to be adopting a cautious stance as the holiday season nears, with fewer major deals and a more reserved approach to new investments. Despite the slowdown, some notable funding activities have emerged.
In Singapore, Galatek, an automation and AI startup, secured $30 million in Series A funding. The investment will support product development, enhance supply chains, and expand teams in Europe, North America, and Southeast Asia. Galatek focuses on automation systems for life sciences labs and semiconductor manufacturing.
In India, Bengaluru’s electric vehicle startup Qucev raised $14.5 million in Series B funding. The funds will be used to establish a new manufacturing facility in Tamil Nadu, localize battery production, and advance R&D for battery-swapping ecosystems aimed at urban delivery fleets.
PowerUp Money, a wealthtech company, garnered $12 million in Series A funding to boost its research capabilities and scale its subscription product. The company plans to launch a new personalized advisory service.
Another Bengaluru-based EV company, Oben Electric, secured $9.4 million in a pre-Series B round to increase production of electric motorcycles and expand its battery-swapping network in India.
In the food sector, Alimento Agro Foods raised ₹52 crore ($5.8 million) to scale manufacturing and distribution, and expand its product range under brands like MOM Meal of the Moment and Gimi Gimi.
This week’s funding activity indicates a focus on established businesses with proven resilience and growth potential, as investors prefer familiar sectors with clear business models and market demand in a cautious end-of-year climate.
