SoftBank invests $60m in Malaysian AI firm for a 23% stake

ADA, a data and artificial intelligence company based  in Malaysia, announced it has received US$60 million in investment from SoftBank Corp.

Srinivas Gattamneni, ADA’s chief executive officer / Photo credit: ADA

The deal will give SoftBank a 23.07% stake in ADA – which stands for Analytics, Data, Advertising – and would push the startup’s valuation to US$260 million.

ADA designs and executes integrated digital, analytics, and marketing solutions for companies across nine markets in Southeast Asia using deep proprietary data of 375 million consumers.

Under the deal, ADA will become a core part of SoftBank’s digital and data marketing arm, allowing the Japanese conglomerate to leverage the startup’s network of portfolio companies. The partnership also allows SoftBank to expand its footprint in Southeast Asia by bringing its customer data platform and the consumer base of its communication app Line to brands and marketers.

ADA will use the fresh funds to develop its AI models, which will focus on precision targeting for the marketing industry. The company will also invest in content analytics and automation as well as the creation of data platforms for consumer insights.

“This move is part of our Beyond Carrier growth strategy as we seek to expand beyond the traditional telecommunications business, By combining our diversified solutions and technologies with ADA’s expertise in the area of analytics, data, and AI digital marketing, we expect we can both generate significant synergies,” said SoftBank vice president Daichi Nozaki.