Orangekloud Technology Inc. - ORKT STOCK NEWS

Orangekloud Technology (Nasdaq: ORKT) unveiled its AI-powered no-code application development platform at GITEX Global in Dubai. The platform integrates artificial intelligence agents and large language model (LLM) techniques to automate app development, streamlining page creation and component integration. Developed in collaboration with AI Singapore's 100 Experiments programme, this technology aims to revolutionize app development efficiency. The company expects this innovation to drive significant revenue growth and facilitate expansion into new markets.

Orangekloud Technology Inc. (Nasdaq: ORKT) has announced a strategic investment of S$1,000,000 (approximately $761,000) in Evvo Labs Pte. , a Singapore-based cybersecurity company. This investment will give Orangekloud a 3.23% shareholding stake in Evvo Labs.

The collaboration aims to enhance Orangekloud's digital transformation solutions by leveraging Evvo Labs' cybersecurity capabilities. This is expected to benefit Orangekloud's enterprise customers. The investment will also support Evvo Labs' product enhancement and market expansion into Singapore and Vietnam.

Both companies anticipate positive synergies from this agreement, strengthening their competitive positions and facilitating the development of new products and services. Orangekloud CEO Alex Goh expressed optimism about the collaboration, stating it will improve service to enterprise end-users and create new product revenue opportunities.

Orangekloud Technology (Nasdaq: ORKT) has signed a Memorandum of Understanding (MOU) with JPJ Medical to distribute its SaaS solutions in South Africa's healthcare sector. The partnership aims to offer Orangekloud's eMOBIQ® No-Code platform as a white-labeled OEM solution, enabling healthcare organizations to automate and streamline mobile digital processes.

Key points:

• JPJ Medical will receive training and support from Orangekloud
• The partnership is expected to expand Orangekloud's market reach in South Africa
• CEO Alex Goh anticipates finalizing the agreement within weeks
• The collaboration targets the growing demand for digital transformation in South African healthcare

OrangeKloud Technology Inc. (Nasdaq: ORKT) has announced a collaboration with AI Singapore (AISG) under the 100 Experiments programme to enhance its eMOBIQ® No-Code platform. The project aims to create AI agents that automate app development, eliminating the need for code syntax or manual drag-and-drop processes. This advancement will enable non-programmers to build enterprise applications rapidly using natural language, potentially reducing development time from weeks to hours.

The collaboration seeks to combine large language model (LLM) knowledge with enterprise domain expertise, positioning OrangeKloud at the forefront of Singapore's AI capabilities. CEO Alex Goh emphasized the potential for significant commercial value and benefits to Singapore's digital economy.

Orangekloud Technology (Nasdaq: ORKT) has signed a Memorandum of Understanding (MOU) with the Electronics Industries Training Centre (ELITC) in Singapore to enhance workforce skills and drive digital transformation. The partnership will integrate Orangekloud's eMOBIQ No-Code platform training into ELITC's curriculum, equipping trainees with skills to develop mobile applications for the digital workplace.

This collaboration aims to support Singapore's national digitalization efforts by providing the workforce with essential digital skills. Additionally, Orangekloud will leverage ELITC's network of Small and Medium Enterprises (SMEs) to introduce its eMOBIQ mobile applications, enabling these businesses to develop solutions for optimizing operations in areas such as warehousing and sales.

OrangeKloud Technology Inc. (ORKT) has successfully closed its initial public offering (IPO) of 2,750,000 Class A Ordinary Shares at $4.75 per share, raising approximately $13.1 million in gross proceeds. The shares began trading on the NASDAQ Capital Market on July 25, 2024, under the symbol 'ORKT'. The company has granted underwriters a 45-day option to purchase up to an additional 412,500 shares, potentially increasing gross proceeds to $15.0 million if fully exercised.

Maxim Group, served as the sole Book-Running manager for the offering. The IPO was conducted pursuant to the company's Registration Statement on Form F-1, which was declared effective by the SEC on July 24, 2024. Investors are advised to read the prospectus and other SEC filings for detailed information about the company and the offering.

OrangeKloud Technology announced the pricing of its initial public offering (IPO) at $4.75 per share, totaling $13.1 million. The offering includes 2,750,000 shares of Class A Ordinary Shares, with an additional 45-day option for Maxim to purchase up to 412,500 more shares at the same price. Trading will commence on the Nasdaq Capital Market under the ticker ORKT on July 25, 2024. The IPO is expected to close on July 26, 2024, pending customary conditions. Maxim Group is the sole book-running manager for the offering. Legal counsel includes Loeb & Loeb LLP in the U.S., Bird & Bird ATMD LLP in Singapore, and Harney Westwood & Riegels in the Cayman Islands, with Pryor Cashman LLP supporting Maxim.