ISDN Holdings’ (SGX:I07
) (ISDN) wholly-owned subsidiary, AR Robotics and Automation Pte Ltd (AR Robotics), has divested 486,500 ordinary shares to Trinity One LT Limited (Trinity) and Soradynamics, Co Ltd (Soradynamics).
ISDN says that the divestment brings together Trinity's financial backing and market development expertise, as well as Soradynamics' proprietary technology, to accelerate AR Robotics' commercial development in advanced robotics and AI solutions for international markets.
Following the divestment, ISDN retains a 30% equity stake in AR Robotics, with Trinity holding 40% and Soradynamics holding 30%.
In addition, ISDN will contribute $1.0 million in seed capital to establish the operations while Soradynamics brings proprietary drone technology and multi-camera video fusion capabilities, independently tested for stability and endurance on par with leading global players.
Trinity, a British Virgin Islands (BVI) registered company, provides financial backing as AR Robotics’ largest shareholder.
ISDN adds that AR Robotics’ core business model is built on a robotics and AI platform that uses the drone as its hardware foundation.
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“Notably, the partnership enters with early commercial progress, supported by an initial contract pipeline of approximately US$10 million, and its multi-camera video fusion technology is currently in trials with notable agencies in Singapore,” the company adds.
“The geopolitical shift away from Chinese-made robotics is creating a real and immediate opening for what we are building here, and we enter with US$10 million contracts in the pipeline to show the market is ready,” says Teo Cher Koon, managing director and president of ISDN.
“We strongly believe that our partnership with Trinity and ISDN will further strengthen our position in the market in the offering of Japanese drone and robotics technologies to the region,” says Hirotaka Kuroki, director of Soradynamics.
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“We believe Singapore will continue to attract more of such partnerships and we welcome collaborations to leverage on our core competencies in Deep Tech Manufacturing for the robotics, drone and AI industry," says Darren Loi, partner of Trinity.
Shares of ISDN closed 0.5 cents higher, or 1.22% up at 41.5 cents on April 21.
