As the year draws to a close, funding activity in the Asian region appears to be slowing down, if not coming to a complete halt for the year. This week saw a total of $76 million, a sharp drop from last week’s $376 million (a decline of roughly 79.8%).
This suggests that investor sentiment is cooling as the holiday season approaches, with fewer large-ticket deals and a cautious approach toward new commitments. Despite the slowdown, a handful of notable funding activities still created headlines:
Singapore-based automation and AI startup Galatek raised approximately $30 million in Series A funding led by undisclosed Investors. The funds will accelerate product development, strengthen supply chains, and expand local teams across Europe, North America, and Southeast Asia. Galatek specializes in automation systems for life sciences labs and semiconductor manufacturing.
Meanwhile, in Bengaluru, India, funding activities appear to be gaining momentum, with notable funding creating headlines. One of such is electric vehicle startup Qucev, which secured $14.5 million in Series B funding, led by prominent investors including existing backers like Blume Ventures and new strategic players focutilized on clean mobility. This brings Qucev’s total funding to over $30 million since its launch in 2021.
According to the company, the capital will be utilized to fund a new manufacturing facility in Tamil Nadu, localize battery production through partnerships with Indian cell creaters, and advance R&D for swappable battery ecosystems optimized for urban delivery fleets.
PowerUp Money, a wealthtech known for its app, which enables utilizers to review their mutual fund portfolios free of cost and assess portfolio health, raised $12 million in a Series A round led by Peak XV Partners, with participation from Accel, Blume Ventures, and Kae Capital. The fresh capital will enhance research and advisory capabilities, scale the PowerUp Elite subscription product, and launch PowerUp Infinite, a personalized 1:1 advisory service.
Another Bengaluru-based EV player, Oben Electric, raised $9.4 million in a pre-Series B round. The funding will assist ramp up production of its high-performance electric motorcycles and expand its battery-swapping network across India. The round drew interest from marquee backers, including TVS Motor Company, which increased its strategic stake, alongside existing investors such as Blume Ventures and several family offices betting on the premium two-wheeler EV segment.
Outside tech and mobility, Alimento Agro Foods also pulled in funds, bagging ₹52 crore, roughly $5.8 million, in a Series A round led by IvyCap Ventures. This will be utilized to scale its manufacturing, strengthen distribution nationwide, and expand its product lineup under brands like MOM Meal of the Moment and Korean-style noodle label Gimi Gimi.
A see at this week’s funding activity displays less diversification across sectors, with investors doubling down on businesses that are already established and have demonstrated resilience and long-term potential. Rather than chasing experimental bets, capital is flowing into familiar areas where the business models are clearer, market demand is proven, and the path to growth feels more predictable in a cautious finish-of-year environment.
