Kuala Lumpur, Malaysia – Data and AI company Axiata Digital & Analytics Sdn Bhd (ADA), has recently announced international trade and development company Mitsui’s investment of US$58m, facilitated through ADA’s holding company, Axiata Digital Services Sdn Bhd (ADS).
Mitsui’s additional investment has established a watermark valuation of US$550m for ADA, reflecting the company’s continued growth and innovation in the digital and data transformation domain.
On the strength of the investment, ADA is set to broaden its digital reach and reinforce its commitment to advancing digital and data transformation in the region. Mitsui has also been working closely with ADS and ADA since their initial investment in 2019, and is now intensifying its efforts to deliver data and AI solutions to partners and clients in the APAC region.
Talking about the investment, Srinivas Gattamneni, chief executive officer of ADA, said, “Mitsui’s strong endorsement highlights our extraordinary growth story. We are excited about the prospect of deepening our collaboration with Mitsui to empower their partners with cutting-edge data, AI, and technology solutions.”
Vivek Sood, group chief executive officer and managing director of Axiata, added, “Mitsui has a strong and proven track record of bolstering innovative businesses in the fields of AI, data analytics and digital transformation. We are confident that broadening our strategic partnership will further enhance ADA’s expertise in AI and data analytics with Mitsui’s substantial business capabilities derived from a global portfolio.”
Meanwhile, Toru Matsui, representative director, senior executive managing officer of Mitsui & Co. Ltd, commented, “We look forward to collaborating closely with Axiata Group and ADS/ADA in order to contribute to the growth of ADA by accelerating the provision of its digital marketing solutions and data analysis services to our partners throughout the region.”
