Ascent Solutions Welcomes Investments by Heliconia Capital and Delta Electronics
Singapore, 29 August 2016 – Ascent Solutions Pte. Ltd. (“Ascent”) has received investments from Heliconia Capital Management (“Heliconia”) and Delta Electronics Int’l (Singapore) Pte. Ltd. (“Delta Electronics”), a wholly-owned subsidiary of Delta Electronics, Inc., Taiwan. Heliconia and Delta Electronics will take a significant minority position in Ascent.
The new investments from Heliconia and Delta Electronics will be used to enhance R&D capabilities, expand into new markets and explore synergistic acquisitions.
Founded in 2010, Ascent is a technologically advanced and enterprising Singapore company with a global reach specializing in Global Positioning System (“GPS”) security tracking and Internet-of-Things (“IoT”) Solutions.
Ascent’s patented iSPOT™ electronic cargo tracking solution has helped both public and private clients with visibility and provision of real-time status alerts of their cargo in transit. This helps to significantly reduce risks such as pilferage and cargo theft. Besides iSPOT™, Ascent has also innovatively applied other technologies such as Bluetooth Low Energy (“BLE”), Satcom failover, and active & passive radio-frequency identification (“RFID”) to solve problems in other areas of the logistics value chain.
Mr Lim Chee Kean, CEO of Ascent said, “We are encouraged by the vote of confidence from Heliconia and Delta Electronics and the support our shareholders have given us. We believe that Ascent is entering a paradigm of explosive IoT sales opportunities which we aim to capture by continuously innovating ourselves. Amongst our exciting new initiatives is the commercialization of Narrow Band-IoT (“NB-IoT”)-enabled tracking devices to tap on future NB-IoT infrastructure that we envisage will be the new normal in our modern cities. I am confident that we will be able to accelerate Ascent’s growth through Heliconia’s value-add, as well as Delta Electronics’ technological capabilities and global network.”
Mr Derek Lau, CEO of Heliconia Capital said, “Chee Kean is a seasoned entrepreneur who has demonstrated track record in frontier markets. Together with Delta Electronics, we look forward to working with him and his team to further strengthen Ascent’s product capabilities and commercial applications, and capture more opportunities in the region.”
About Heliconia Capital Management
Heliconia Capital Management Pte Ltd is an investment firm and a wholly-owned subsidiary of Singapore investment company Temasek that provides growth capital for Singapore’s leading small and medium sized enterprises, helping them become global competitive companies. For more information about Heliconia, please visit www.heliconiacapital.com