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.
Proceedings will go into building the team, focus on community engagement, and marketing efforts.
The firm currently focuses investing on Indonesian based companies only.
MIT proposes a private placement of 90.44 million new units to raise a minimum gross proceeds of S$175 million (about US$129 million).