Delta Corp has announced its strategic acquisition of Quantship, an AI platform using quantitative algorithms to create value in freight markets.
Quantship was incubated at Entrepreneur First, Singapore, in 2019 by Kaushik Reddy and Sudeept Sinha, and uses proprietary algorithms to process millions of data points across geospatial and terrestrial data sources to provide actionable insights on the freight markets.
“With interdisciplinary experience in shipping and quant trading, the founders were able to quickly execute and build an AI platform that has unlocked tremendous value for the bulk shipping community,” said Bernadette Cho, General Manager and Partner at Entrepreneur First.
The company will continue to operate its office in Singapore following the acquisition and the founding team will continue to work with Delta Corp, a marine logistics provider and fuel supply & distribution company with offices in 12 countries.
“The acquisition of Quantship is testament to the fact that Delta Corp is at the forefront of an increasingly digital shipping world, where data-driven decision making is key to gaining a competitive advantage,” said Mudit Paliwal, CEO of Delta Corp.
“We see great potential in the team and the technological capability and see other areas for potential collaboration within Delta offerings to its customers, where Quantship’s expertise could come in handy.”