# Rigel Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rigel-technology

- Industry: Logistics & Distribution
- Headquarters: Singapore, Singapore
- Website: www.rigel.com.sg/
- Total disclosed funding: $1.6M
- Latest round: Series B (May 21, 2021)
- Investors on record: 1

## About

Based in Singapore, Rigel Technology specializes in providing advanced technology solutions that enhance operational efficiency across various market sectors.Founded in 1975, Rigel Technology operates from Singapore and focuses on delivering innovative technology solutions. The company raised USD 1.65 mn in a Series B funding round in May 2021, valuing it at USD 31.7 mn post-money. The CEO is Mohammad Jafari, with Ng Eng Seng also in a leadership role.The company focuses on delivering innovative solutions tailored to meet the needs of specific market segments. Their core product offerings encompass advanced technology solutions designed to streamline operational efficiencies and enhance user experiences. These products are engineered to address challenges faced by businesses in sectors such as healthcare, finance, and retail, with a primary emphasis on driving productivity and optimizing workflows. The firm caters to a diverse client base, including mid-sized enterprises and large corporations, primarily located in North America and Europe, where their products have seen substantial adoption since their launch. By integrating user feedback and market analysis, the company continually refines its offerings to ensure that they effectively solve real-world problems for end users.In 2023, Rigel Technology reported a revenue of USD 29.34 mn, with an EBITDA of USD 7.75 mn. The company's revenue model is structured around a combination of subscription services and direct sales, facilitating robust transactions with their clientele. Typical transactions involve clients subscribing to a suite of services that offer perpetual updates and support, ensuring they maximize the value derived from the products. Businesses may purchase an annual subscription for a flagship software suite, which includes tiered pricing plans designed to accommodate varying levels of usage and feature access. Additionally, the company engages in partnerships with distributors and resellers to further extend their reach in the market.Rigel Technology aims to launch new products tailored to evolving market needs and is exploring expansion into additional geographic markets, including Asia and Europe, by the end of 2024. The recent Series B funding of USD 1.65 mn will support these initiatives, enabling the development of innovative solutions and enhancing market presence.

## Funding rounds

- Series B, May 21, 2021, $1.6M — Heliconia Capital Management

## Investors

- Heliconia Capital Management (https://capitalatlas.ai/funds/heliconia-capital-management) — Series B