Zilingo acquires Sri Lankan firm nCinga Innovations for $15.5 million

Zilingo, a commerce and technology platform, said on Tuesday that it has acquired Sri Lanka-based software-as-a-service company nCinga Innovations for $15.5 million in a cash and stock deal. The acquisition would help Zilingo scale up its global supply chain capabilities.

“What excited us about the nCinga product was their ability to dramatically improve efficiency and drive insights by digitising the shop floor,” said Ankiti Bose, co-founder and CEO of Zilingo. “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.”

Zilingo, whose technology platform powers the entire fashion supply chain, was founded in 2015 by Ankiti Bose and Dhruv Kapoor. In February this year, the Singapore-headquartered firm revealed that it had raised $226 million from investors such as Sequoia, Sofina and Temasek.