AEI Legal advised the founders of BasisAI (now Aicadium) in the acquisition by Temasek’s Aicadium. Aicadium was founded by Temasek to create and scale AI solutions as a global centre of excellence, leveraging data scientists, engineers and a platform of AI algorithms. BasisAI provides scalable and responsible AI solutions via Bedrock, its end-to-end machine learning platform, and has deployed solutions for Singapore Airlines, ComfortDelgro, DBS, UOB and OCBC.

Congratulations again to Feng-Yuan Liu, Linus Lee and Silvanus Lee on the exit.

Read more:
https://www.businesstimes.com.sg/garage/temaseks-aicadium-acquires-local-startup-basisai

AEI Legal advised e-commerce aggregator Rainforest on its US$20M pre-Series A round.

Huge congratulations to the Rainforest team - JJ Chai, Jason Tan, Per-Ola Röst and Janitha Navaratnam - it’s a real pleasure to work in close partnership with this trailblazing team.

Read more on Techcrunch:

https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2021/09/07/e-commerce-aggregator-rainforest-raises-20m-just-months-after-its-last-funding/amp/

AEI Legal advised AI-powered social media analytics firm Radarr (previously known as Circus Social), on their pre-series A round led by Inflection Point Ventures.

Businesses across Asia & the world, including several Fortune 500 companies, use Radarr for intelligence and insights.

Read more on Entrepreneur:
https://www.entrepreneur.com/article/368506

AEI Legal advised tech group International Biometrics on a deal with SGX-listed Yinda Infocomm that values the International Biometrics group at S$69 million. The biometrics sector has seen accelerated growth trajectories recently, in part due to the COVID-19 pandemic.

Yinda Infocomm’s acquisition of a 51% stake was for a consideration mix of 143,333,000 ordinary Yinda shares issued at S$0.15 per share, and S$13.5 million cash, paid in 2 tranches.

Read more on NextInsight:
YINDA INFOCOMM: Signs deals to enter biometrics industry (nextinsight.net)

AEI lawyers Andrea Chee, Zhitian Law & Yuho Bong advised International Biometrics.

Basis Technologies Pte Ltd, an AI-focused start-up founded by the former head of data science at Twitter Asia Pacific, the former head of data science at Uber and Dropbox, and the former director of data science and AI at Singapore’s GovTech, completed its Series A financing with Singapore’s sovereign wealth fund Temasek, and Sequoia India.

This was one of the very first deals to be negotiated and completed utilizing the Venture Capital Investment Model Agreements (VIMA) which were released by the Singapore Venture Capital and Private Equity Association (SVCA) in October 2018.

AEI lawyers Andrea Chee & Cheryl Yang advised Basis Technologies.