Zilingo acquires software company nCinga Innovations in landmark $15.5 million cash and stock deal

The Singapore-headquartered technology platform scales up global supply chain capabilities with acquisition of Sri Lanka-based Software-as-a-Service company

Leading technology platform Zilingo has bolstered its position as a global digital supply chain enabler with its acquisition of Sri Lanka-based software company nCinga Innovations. The acquisition is touted to be one of the largest tech exits in Sri Lanka in recent times. The deal marks a major win for the region’s startup ecosystem.

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. An addition to Zilingo’s powerful technology stack, the MES software automates operations on the factory floor by enabling access to real-time data on the go.

The global impact of Zilingo’s supply chain technology

Fashion is an over US$3 trillion industry, in which a majority of retailers struggle with meeting consumer demand for fast, on-trend and responsibly produced products due to inefficiencies and information asymmetry. To address this, Zilingo has created a full-stack technology platform that makes the supply chain fair, transparent and connected. 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.

“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,” said Ankiti Bose, Co-Founder and CEO of Zilingo, on the acquisition.

Zilingo to bring digitisation opportunity to global manufacturing hubs like Bangladesh, India, Vietnam and Indonesia.

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.

“We at nCinga are very inspired by Zilingo’s vision. Both the teams align on shared values and a global ambition to make the fashion and apparel industry fair, transparent and efficient, we hope to do great things together,” said Imal Kalutotage, Chief Executive Officer, nCinga Innovations.

The company now looks to Vietnam as well as other key Asian markets as part of its growth strategy to expand its B2B business. In late October, Zilingo connected with Vietnam Textile & Apparel Association (VITAS) to bring digitisation to Vietnamese factories as well as to maintain their position as major players in the fashion industry.

“As we scale our presence in Vietnam, we look forward to leveraging our platform to bring more Vietnamese factories into the digital age while connecting Vietnamese sourcing to global fashion brands in the West. The role of technology should be used to create inclusive growth. With Zilingo’s suite of tools and services, fashion businesses will be better equipped to compete in a global marketplace,” said Cian O’Dowd, Head of Expansion, Zilingo.

 

About Zilingo

Zilingo is a technology platform that powers the entire fashion supply chain. It was founded in 2015 by Ankiti Bose and Dhruv Kapoor with a vision to use technology to put responsible and efficient business within everyone’s reach. The fashion industry is dominated by a select few – favoring only those with social, human and financial capital. At Zilingo, we believe the future of fashion belongs to everyone. By using smart, technology-led solutions to bridge the gap between creators and producers, we’ve reimagined the fashion supply chain to make it fair, connected and transparent for all.

About nCinga

nCinga believes in the power of data and recognizes that the availability, visibility, usability, manageability and reliability of the data is of utmost importance to realize the power of data. As such, nCinga has put forth a platform where organizational data can be collected, integrated, connected, searched, visualized and analyzed all in real time.

 

Press release distributed by EloQ Communications.

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