Web Imp, Cashapon, and TechVenture Pursuit (TVP), three local businesses, have been acquired for a total of US $37 million by VE Capital Asia, a Singapore-based management consulting and deeptech firm.
VE Capital plans to boost revenue by US $11 million as a result of these purchases.
Online Imp, which was founded in 2014, assists organisations in achieving digital transformation through user-friendly UX/UI design, dependable web and mobile development, and cost-effective digital marketing strategies. In May of this year, this purchase was done.
Cashapon uses AI and machine learning to acquire and elevate prominent brands in the retail e-commerce sector.
TVP is a service provider and automation builder that specialises in business productivity, redesign, and automation solutions. The company anticipates being able to expand further into the region in order to assist businesses that demand scalable IT solutions.
The August transactions with Cashapon and TVP aimed to improve VE Capital’s AI, Machine Learning, Internet of Things, and automation capabilities.
VE Capital Asia CEO June Yong said, “As enterprises rush to digitise and stay relevant in light of this pandemic, VE Capital Asia is on track to establish itself as a trusted one-stop tech integrated solutions provider through the recent acquisitions. We are currently undergoing negotiations to acquire several deeptech firms in the region to become a leader in this space, helping companies make a smooth and cost-efficient transition into the new normal.”
VE Capital Asia works with a diverse range of local and international corporate and SME customers. Sheldon Group has collaborated on the creation of completely optimised deep technology software as well as IoT and hardware automation.
Prime Supermarket will also benefit from the creation of a group-buy groceries e-commerce platform. The platform enables the firm to provide e-commerce and group buy capabilities to customers, as well as handle offline and online sales and vendor payouts in one place.
