IRGA Sdn Bhd has completed its acquisition of veteran oil palm harvesting equipment manufacturer, Kingoya Enterprise Sdn Bhd. Set to be the first agritech unicorn in Southeast Asia, the agritech solutions provider has expressed interest in its iPLANT plantation management software and upcoming HARVi electrical FFB cutter.
Through this acquisition, IRGA will be able to utilize newly acquired resources from Kingoya that will go to developing technological innovations which it aspires to reshape the industry in novel ways, delivering cognizant technology solutions that will radically improve agricultural output.
Speaking on the merger, IRGA’s co-founder Girish Ramachandran said that this acquisition marks a historic day for both Kingoya and IRGA. “Having served as a Board member of Kingoya since 2010, I am very happy to have Yama Yeo and Gopi Nair, founders of Kingoya, on board.”
“We have managed to blend the software technologies of IRGA with the hardware manufacturing expertise of Kingoya, bringing together a core management team of 7 leaders. We foresee rapid growth in our global expansion, in particular the harvesting operation segment of plantation management.”
Meanwhile, Kingoya’s Managing Director Yama Yeo Keng Loong also chimed with his own words about the acquisition. “We are excited with this new development and look forward to substantial synergies in our operations to grow the business. Kingoya will continue to maintain its leading position as an innovator of harvesting tools and equipment for the oil palm industry.”
Mr. Loong also added how their customers would also greatly benefit, as Kingoya through IRGA will be actively exploring automation, mechanisation, and digitalization in the agricultural industry.