Astra Tech, UAE’s tech development and investment group, raises $500m

Astra Tech, UAE’s tech development and investment group, raises $500m

Astra Tech, UAE’s technology development and investment group, raised $500 million from strategic investors as the company pushes forward with the launch of a new ultra platform.

Astra is buliding an ultra platform that strips away complexity and focuses on providing a seamless, intuitive, and human experience while supporting the commercial ambitions of suppliers and partners. The company’s vision is to simplify the way people communicate, shop, pay, and transact.

The platform will allow businesses and vendors worldwide to effortlessly connect with customers across a variety of essential everyday services and products, enriching users’ lives with speed and simplicity. 

“We’ve seen how in an effort to overcome profitability challenges and poor unit economics, platforms have jumped from one business line to the next in an attempt to force users to complete more transactions with them. The result is an overabundance of complex and sluggish digital platforms that aren’t fit for purpose.  Our goal is not to reinvent the wheel but to repurpose familiar platforms to create what we call an ultra platform and an un unmatched interconnected ecosystem for digital commerce and communication revolutionizes how people live and significantly reduces the time to complete everyday tasks,” Abdallah Abu Sheikh, Co-Founder & CEO of Astra Tech.

Read more: Bloom, Sudan’s FinTech startup, raises $6.5m in a seed round

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