UK-based data analytics company GlobalData has acquired Ai Palette, a Singapore-based AI startup specializing in consumer packaged goods (CPG).

Tin Men Capital, Ai Palette’s founding investor, confirmed the sale and indicated plans to reinvest the proceeds into regional B2B startups.

The terms of the acquisition have not been disclosed.

Founded by Somsubhra Ganguly and Himanshu Upreti, Ai Palette provides AI-driven insights that help consumer brands utilize large-scale CPG data and proprietary technology.

With a presence in over 25 countries and more than 3,600 employees, GlobalData has incorporated Ai Palette into its portfolio to enhance its data-driven market intelligence capabilities. This acquisition follows several months of negotiations.