Singapore AI startup Galatek raises $30m Series A

Singapore AI startup Galatek raises $30m Series A

Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/ File Photo

Galatek, a Singapore-based automation and AI startup, has announced raising about $30 million in Series A funding as it targets life sciences labs and advanced semiconductor manufacturing.

In a statement, the company said the fresh funding will be used to accelerate product development, enhance its supply chain, and expand local teams across Europe, North America, and Southeast Asia.

The company did not name investors or disclose valuation.

Galatek is developing automation and AI systems for two areas where customers are demanding higher precision and faster throughput: research laboratories and chip packaging lines.

“The need for smart laboratories in life sciences and the innovation imperative in semiconductor advanced packaging are not just sector-specific needs – these are critical junctures where we are focused,” said Galatek CEO David Tian.

In life sciences, the startup is developing “smart lab” tools aimed at streamlining research and service workflows in areas such as diagnostics, next-generation sequencing, organoid culture, drug development, and synthetic biology, it said.

Galatek added that it has partnered with pharmaceutical firms and research institutions and has worked with academic groups, including the National University of Singapore, on lab automation projects, without providing financial details.

In semiconductors, Galatek said it is focusing on equipment and software for advanced packaging, a fast-growing segment as chipmakers look to improve performance by stacking and connecting components more densely.

The funding comes as startup fundraising in Southeast Asia rebounded in November, supported by a cluster of mid- and late-stage cheques, even as the market again went without a $100 million-plus megadeal.

Privately-held companies in the region raised approximately $393.6 million across 36 equity deals last month, according to proprietary data compiled by DealStreetAsia. That was up about 23% from the roughly $320 million raised from the same number of equity deals in October.

Edited by: Padma Priya

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