Singtel Innov8 hikes its holding in engineering firm HOPE Technik

Visual of Hope Technik homepage. March 2016.

Singtel Innov8, the venture capital arm of Singapore Telecommunications Limited (Singtel), has increased its stake in engineering company HOPE Technik Pte. Ltd, in a deal valued at S$710,000.

With this transaction, Singtel Innov8 has increased its holding in the Singapore-based firm from 18.7 per cent to 21.3 per cent.

Singtel Innov purchase 130,423 shares of Hope Technik at S$5.43 per share, resulting in an aggregate cash consideration of S$0.71 million.

According to a filing, the purchase consideration was arrived at on a willing buyer-willing seller basis based on an assessment of Hope Technik’s assets and business prospects.

Hope Technik provides engineering solutions for commercial and government customers. For instance, in June 2014, the firm conducted work with Airbus regarding a space plane demonstrator, which they constructed in partnership with Airbus.

In a 2014 feature by Tech in Asia, Hope Technik explained that much of its revenue originated from consulting and prototyping work. At the time, it was claiming at the time to be on track to generate $8-$10 million in revenue for 2014, with the firm manufacturing hardware products locally.

Given developments like Singtel’s interest in solving various technology problems, among them drone detection and management, HOPE Technik’s work on swarm intelligence systems – the collective behavior of decentralised, self-organised systems of either natural or artificial origins – in solving computationally hard problems, may be a factor behind the investment.

When contacted by DEALSTREETASIA, Singtel declined to comment on the transaction.

Also Read: Singtel Innov8, InVent invest in Thai social commerce platform ShopSpot

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.