Investment in Aonic Holdings Pte. Ltd. led by Hibiscus Fund LP.
Allen & Gledhill, as transaction counsel, advised Aonic Holdings Pte. Ltd. (“Aonic”), a Singapore-based holding company for the Aonic business in Malaysia, on a convertible note round of investment, led by Hibiscus Fund LP.
Aonic is a Malaysian DroneTech start-up providing services related to automation and analytics in the agricultural and industrial sectors, and has established the widest agriculture drone service centre network in Malaysia.
Advising Aonic was Allen & Gledhill Partner Nicholas Soh.