Zilingo, Singapore-based fashion start-up, has announced the acquisition of nCinga, Sri Lanka’s SaaS start-up, in a deal of US $ 15.5 cash and stock.
With this, Zilingo plans to deploy nCinga, Manufacturing Execution System (MES) software, across its network of 6,000 factories and 75,000 business.
Founded in 2014, nCinga provides solution that enables real-time production monitoring on factory floors and data analytics tools.
The solution also helps the apparel industry players have a total transparency of their supply chain, increasing efficiency and accuracy.
Ankiti Bose, Co-Founder and Chief Executive, Zilingo substantiates “nCinga’s product has helped the start-up ‘drastically improve’ efficiency and drive insights by digitising the shopfloor. Their work has been crucial to our mission of creating a transparent, sustainable, economically viable and socially responsible apparel supply chain.”
The acquisition will further assist customers in the United States, Europe and Australia, to have better transparency over the supply chain and manufacturing processes, where brands traditionally lack transparency over supply chain and manufacturing processes.
Furthermore, it will also help to expand the reach of nCinga’s solution to countries like India, Bangladesh, Vietnam, Indonesia, Thailand and Turkey, which are major fashion and manufacturing markets.
The announcement was made a week after Zilingo said it planned to invest US $ 100 million to expand its supply chain in the USA.