Singapore’s vogue startup Zilingo has acquired Sri Lanka’s SaaS startup nCinga in a $15.5 money and inventory deal, the 2 mentioned immediately.

nCinga, based in 2013, affords an IoT platform to allow real-time manufacturing monitoring on manufacturing facility flooring and knowledge analytics instruments. Its acquisition is certainly one of Sri Lanka’s largest tech exits in current instances, the 2 mentioned.

Zilingo, which has constructed a number of items of provide chain — manufacturing, logistics, funds, and so forth for retailers and types, mentioned it is going to deploy the Sri Lankan startup’s Manufacturing Execution System (MES) software program throughout its community of 6,000 factories and 75,000 companies.

Ankiti Bose, co-founder and chief government of Zilingo, mentioned, nCinga’s product has helped the startup “drastically enhance” effectivity and drive insights by digitizing the store ground. “Their work has been essential to our mission of making a clear, sustainable, economically viable and socially accountable attire provide chain,” she mentioned.

Zilingo “has lengthy” been a consumer of nCinga, she mentioned.

Retailers proceed to wrestle with assembly shopper demand for quick, responsibly produced merchandise on account of inefficiencies and data asymmetry, mentioned Zilingo, which is steps away from changing into the most recent Southeast Asian unicorn. The acquisition will allow it to assist clients in america, Europe and Australia, the place manufacturers historically lack transparency over provide chain and manufacturing processes, it mentioned.

Zilingo may also assist to increase the attain of nCinga’s software program to core vogue manufacturing markets reminiscent of Bangladesh, India, Vietnam, Indonesia, Thailand and Turkey. In an announcement, nCinga chief government Imal Kalutotage mentioned the startup “hopes to do nice issues collectively.”

The announcement immediately comes weeks after Zilingo mentioned it deliberate to take a position $100 million to increase its provide chain within the U.S.

It’s unclear how a lot capital nCinga had raised previous to immediately’s announcement. In line with Crunchbase, nCinga’s final financing was its seed spherical 5 years in the past.

- Market Research Reporting