Axiata-owned ADA rakes in US$60M from Softbank to develop AI-driven digital marketing solutions
Axiata Digital Advertising (ADA), a Malaysia-based digital marketing solutions company, has secured US$60 million in funding from SoftBank Group.
Post the investment, the Japanese telecom group will own 23.07 per cent shareholding of ADA at an enterprise valuation of US$260 million.
With the newly raised capital, ADA aims to continue the development of its AI models, with a primary focus on precision targeting for the marketing industry.
In addition, ADA will also invest the funds in content analytics, automation of content creation, and build data platforms that predict consumers’ insights that help drive business decisions.
SoftBank said in a statement that it will make ADA a core to its digital and data marketing arm.
Founded in 2018, ADA is a group company of Malaysian telco giant Axiata. ADA designs and executes integrated digital, analytics and marketing solutions to help businesses gain market insights, optimise cost and reach and acquire customers.
So far, the company has a footprint across nine markets in South and Southeast Asia, including Malaysia, Singapore, Indonesia, Thailand, Cambodia, the Philippines, Sri Lanka, Bangladesh, and South Korea.
“We believe this alliance between SoftBank and ADA will reshape the digital marketing and data landscape in the Asia Pacific region. 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, we expect we can both generate significant synergies,” said Daichi Nozaki, Head of Global Business Division, SoftBank.
“The post-COVID-19 norm is a digital-first economy, which ADA has been successfully building towards. The capital and business alliance with SoftBank will further propel ADA’s analytics, data and AI digital marketing solutions for the benefit of our customers across the region,” added Srinivas Gattamneni, CEO of ADA.
Image Credit: ADA
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,Axiata-owned ADA rakes in US$60M from Softbank to develop AI-driven digital marketing solutions | e27
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