VE Capital Asia, a Singapore-based management consulting and deeptech company, has announced the acquisition of three local startups — Web Imp, Cashapon, and TechVenture Pursuit (TVP) — for a total of US$37 million.

With these acquisitions, VE Capital expects its revenue to increase by US$11 million.

Founded in 2014, Web Imp guides businesses in enabling digital transformation through intuitive UX/UI design, reliable web and mobile development, and cost-effective digital marketing campaigns. This acquisition was made in May this year.

Cashapon acquires and elevates leading brands in the retail e-commerce market using AI and ML technology.

TVP is an automation builder and service provider specialising in enterprise productivity, redesign, and automation solutions. The company expects to be able to venture deeper into the region to serve companies that require scalable IT solutions.

The Cashapon and TVP deals — closed in August — aim to strengthen VE Capital in AI, Machine Learning, Internet of Things, and automation.

Also Read: S’pore budget 2021: Increased support for deeptech, enhanced venture debt programme for startups

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 supports a wide selection of corporate and SME clients, both local and international. Notable partnerships include the development of a fully optimised deep technology software and IoT & hardware automation with Sheldon Group.

Another partnership includes the development of a group-buy grocery e-commerce platform for Prime Supermarket. The platform allows the company to introduce e-commerce and group buy features to shoppers and provide the group with seamless management of offline and online sales and vendor payouts.

Image Credit: Web Imp

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