reAlpha Tech Corp., a real estate technology firm focused on AI development, has acquired 85% of the equity in AiChat Pte. Ltd., a Singapore-based company specializing in AI-powered conversational customer experience solutions. The remaining 15% will be acquired by June 30, 2025.
The acquisition’s total value is $1.14 million, payable in shares of reAlpha’s common stock in three tranches, starting no later than January 1, 2025. Additionally, reAlpha will infuse $300,000 into AiChat at a mutually agreed time. This strategic move is part of reAlpha’s efforts to enhance its technological capabilities and market presence in the Asia-Pacific (APAC) region.
Strategic Impact
reAlpha aims to integrate AiChat’s conversational AI platform, which supports over 250 languages, to enhance customer interactions. This platform’s sentiment analysis and machine learning capabilities are expected to bolster reAlpha’s technological offerings.
The acquisition is also anticipated to increase the visibility and usage of reAlpha’s technologies and platforms, such as Claire, its commission-free homebuying platform. By leveraging AiChat’s established sales channels and expertise, reAlpha aims to strengthen its brand and position in the AI industry.
Market Context
The global conversational AI market is projected to grow from $13.2 billion in 2024 to $49.9 billion by 2030, at a compound annual growth rate (CAGR) of 24.9%. This growth underscores the potential impact of integrating AiChat’s solutions into reAlpha’s offerings.
Leadership Comments
Giri Devanur, CEO of reAlpha, stated, “Welcoming AiChat to the reAlpha group is a significant step in our mission to digitalize the real estate industry. AiChat’s platform and team will help make Claire the benchmark for homebuying efficiency and reliability.”
Kester Poh, CEO and founder of AiChat, and his key management team will continue to lead AiChat within reAlpha. Poh commented, “Joining reAlpha opens up new opportunities for AiChat. Integrating our technology with reAlpha’s resources will enhance our product offerings and market leadership.”
For more information, please refer to the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC).
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By Proptechbuzz
By Ravi Kumar
