Validus will invest the new funds in technology development and data analytics, focusing on artificial intelligence and machine learning.
With the Vietnammm acquisition, Woowa Brothers will compete directly with rivals in Vietnam including GrabFood, Now by Foodie and Go-Viet’s Go-Food.
The acquisition is a strategic step by Dentsu Aegis Network to accelerate their Asia Pacific expansion to the Southeast Asian Market.
The capital proceeds will be used to further advance the adoption and impact of visual commerce for retailers and smartphone manufacturers.
The funding round is led by Japanese advertisement solutions firm, FreakOut Holdings Inc.
This acquisition aims to provide all-around financial advice for Singaporeans.