Singapore-based fashion start-up Zilingo on Tuesday said it has acquired Sri Lanka-based nCinga Innovations in a USD 15.5 million (about Rs 110 crore) cash and stock deal.
The acquisition will drive the adoption of the manufacturing execution system (MES) software across Zilingo’s global network of 6,000 factories and 75,000 businesses, enabling access to previously untapped markets, according to a statement.
An addition to Zilingo’s technology stack, the MES software automates operations on the factory floor by enabling access to real-time data on the go, it added.
“The acquisition will bring added features to the company’s customers in the United States, Europe and Australia, where brands traditionally lack transparency over supply chain and manufacturing processes,” it said.
Founded in 2015 by Ankiti Bose and Dhruv Kapoor, Zilingo has developed software solutions to allow vendors to access factories in different countries, and also help with cross-border shipping and inventory management.
“What excited us about the nCinga product was their ability to dramatically improve efficiency and drive insights by digitising the shop floor — we have partnered with them for a long time and their work has been crucial to our mission of creating a transparent, sustainable, economically viable and socially responsible apparel supply chain,” Ankiti Bose, co-founder and CEO of Zilingo, said.
The statement said Zilingo plans to leverage its global manufacturer network to increase distribution of the software — specifically for core fashion manufacturing markets such as Bangladesh, India, Vietnam, Indonesia, Thailand and Turkey, among others. PTI SR