Omnilytics, a fashion analytics and insights software, announced its intention to acquire and partner with data labelling platform, Supahands, in a deal valued at US$20 million. Omnilytics will be embarking on an ongoing strategic acquisition drive to bolster its core functions and technological capabilities to supercharge its long-term growth.
Kendrick Wong, Omnilytics CEO and Co-Founder said, “In recent years, the e-commerce landscape has rapidly evolved, catering to ever-shifting consumer demands. At Omnilytics, our vision is to enable a more intelligent, connected retail ecosystem, enabling brands to stay ahead of their competitors. Our acquisition of Supahands marks a pivotal step in our journey, filling a critical gap in our existing tech capabilities as we take one step closer in becoming retail’s most important data stack.”
Armed with our proprietary Product Match solution, which enables brands and retailers to compare the same or similar stock-keeping units (SKUs) across multiple platforms, we’re on a mission to help the world trade efficiently by transforming retail with intelligent connected data and actionable insights.
By using a singular set of naming conventions, Omnilytics provides retailers with the confidence to make accurate data-driven decisions at both product and market level and reduce risk of inconsistencies and misclassifications in their product database — ultimately achieving better business performance overall.
The acquisition of Supahands is set to bring Omnilytics’ Product Match solution to the next level, opening doors to future partnership and innovation endeavours across the e-commerce landscape.
Founded in 2014 and headquartered in Malaysia, Supahands is an end-to-end data labelling platform that develops training data to enable clients to launch and scale high-performing artificial intelligence applications for their business. The company’s global clientele includes the likes of online consumer marketplace Carousell, SaaS customer experience management platform Sprinklr, and retail solutions provider Badger Technologies. Supahands’ investors include 500 Startups, Patamar Capital, Cradle Seed Ventures, and Axiata Digital Innovation Fund. Supahands was also awarded an innovation grant from the Malaysia Digital Economy Corporation (MDEC) in 2020.
Mark Koh, CEO and Co-Founder of Supahands said, “Accelerating the adoption of AI is at the heart of our business at Supahands, having witnessed first hand the tangible benefits that artificial intelligence and machine learning can bring to our clients as they strengthen the different pillars of their business from analytics to deployment. We are proud to be joining forces with Omnilytics who share our same vision of revolutionising the retail tech ecosystem with unparalleled service and innovation while still serving our existing and new clients in other industries.”
Following the acquisition, Koh will join the Omnilytics Board, taking on the role of Chief Strategy Officer as we embark on our accelerated growth plan for 2022.
