Singapore fashion analytics firm acquires Malaysia AI startup in $20m deal

Singapore’s Omnilytics, a fashion analytics and insights company, said it will acquire and partner with Malaysian data labeling platform Supahands in a US$20 million deal.

Photo credit: Omnilytics

Founded in 2014, Supahands offers end-to-end data technology that accurately labels images, text, speech, and video clips. It recently partnered with Carousell to evaluate search relevance algorithms, aiming to improve the online marketplace’s search and recommendation functions.

According to Kendrick Wong, CEO and co-founder of Omnilytics, the acquisition would help the company fill a gap in its existing tech offerings for retail firms.

Omnilytics is a market intelligence platform that provides real-time data and competitor analysis for fashion retailers. The company said it has gathered data from over 100 million product stock-keeping units (SKUs) across more than 75,000 brands and retailers.

Its proprietary Product Match solution allows its clients to compare the same or similar SKUs, enabling them to analyze competitor pricing and make more data-backed decisions. Omnilytics counts companies such as Global Fashion Group (along with Zalora and The Iconic), Uniqlo’s parent company Fast Retailing, and Adidas, among its clients.

“Accelerating the adoption of AI is at the heart of our business at Supahands, having witnessed firsthand the tangible benefits that AI and machine learning can bring to our clients as they strengthen the different pillars of their business from analytics to deployment,” said Mark Koh, CEO and co-founder of Supahands

Following the acquisition, Koh will join Omnilytics’s board and serve as its chief strategy officer.