Smartkarma, a Singapore-headquartered fintech platform for independent analyst research, has acquired Helixtap, a commodities alternative data and insights platform focused on the natural rubber industry.
According to a Sept 2 announcement, the acquisition underscores Smartkarma’s commitment to expanding its proprietary data capabilities and institutional coverage, particularly within the commodity and alternative data markets.
Helixtap will become the commodities data arm of Smartkarma, and will enjoy wider distribution, along with the support of institutional backers such as Enterprise Singapore, Sequoia India, Wavemaker Partners, Jungle Ventures and the Singapore Exchange S68 (SGX).
Smartkarma was founded in Singapore in 2014 by Raghav Kapoor, Jon Foster and Lee Mitchell. In July 2019, SGX announced that it had made an unspecified “strategic investment” into Smartkarma.
“The acquisition comes at a time when we are witnessing an inflection in the demand for rubber amidst higher volatility, La Nina impacts and other supply disruptions,” reads Smartkarma’s announcement. “Additionally, new EU Deforestation Regulations (EUDR) are impacting the supply chain, alongside a strategic focus by various countries on the electric vehicle market and more funds growing their commodities desks.”
Kapoor, CEO of Smartkarma, says Helixtap brings its “commodity DNA” to Smartkarma, “broadening our customer base, expanding our revenue opportunities and underscoring our focus on proprietary data”. “With smart ideas and sound karma, we can cultivate a highly successful outcome.”
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Farah Miller, CEO of Helixtap and now head of commodity sales at Smartkarma, says: “Being a part of Smartkarma marks a pivotal point in the Helixtap journey, empowering us in providing a wider range of innovative solutions to tackle the pricing complexities in the natural rubber industry, and greater automotive and electric vehicle sector. We look forward to leveraging synergies, unlocking new opportunities and driving even greater value for our clients and stakeholders together.”
