Zilingo, the Singapore based fashion startup has bought the SaaS startup named nCinga in the price of $15.5 million cash. This nCinga is a Sri Lankan startup which was founded first in 2014. nCinga offers a fascinating platform of IoT to activate a real-time production by monitoring the factory floors as well as data analytics tools. Besides, the acquisition is also one of the largest techs in Sri Lanka that exit in very recent times.
Zilingo on the other hand has built many pieces of supply chain including logistics, manufacturing, payments for the brands as well as for the retailers – according to the Manufacturing Execution System of the Sri Lankan startup across the network of around 75,000 businesses and 6,000 factories.
Ankiti Bose – the co-founder and chief executive of the Zilingo said that the products of nCinga has aided the startup to improve drastically as well as efficiently and also to drove the insights through digitizing the floor of the shop. She also said that their work had been important to their mission of building a sustainable, transparent, economically viable and socially responsible apparel supply chain. She added that Zilingo has really long been a client of the nCingo.
According to the Zilingo – the retailers continue to work hard to meet the demand of the consumers faster due to the inefficiencies and the information asymmetry which is now stepping away from being the most recent Southeast Asian unicorn. Besides the acquisition will also enable that to aid the customers across the United States, Australia along with the Europe.