Latest news with #RaaS
The Star
4 days ago
- Business
- The Star
I-Bhd commits RM10mil to AI, robotics rollout across income-generating portfolio
SHAH ALAM: I-Bhd , the master developer of I-City, has announced an initial commitment of RM10 million to roll out artificial intelligence (AI) and robotics infrastructure across its portfolio of income-generating assets. In a statement, the company said the rollout, expected to be completed in 2028, will begin with the AI-Driven Enhancement at Mercu Maybank, a 33-storey corporate tower that serves as Maybank's alternate head office in i-City. According to the statement, the implementation will extend to other assets, including Wyndham Suites I-City, Wyndham Suites KLCC, Wyndham Garden, DoubleTree by Hilton i-City, Central-City Mall, I-City theme park, car parks, a data centre, and residential developments in i-City. "This rollout builds on the success of I-Bhd's pivot towards 'extracting value from the land', a strategy first introduced in 2024 to unlock long-term value from its RM10 billion gross development value (GDV) in i-City. "With over 50 per cent of the completed GDV made up of income-yielding properties, the group is now entering a phase focused on performance optimisation, operational scalability, and intelligent infrastructure,' it said. The statement added that the four-year technology roadmap is designed to embed automation into both internal operations and customer-facing experiences, including predictive maintenance, visitor flow management, and robotics-assisted service delivery across commercial, retail, and hospitality spaces. "The group's i-City SuperApp will serve as the central platform for integrating Robotics-as-a-Service (RaaS) capabilities across its asset ecosystem, with future plans for tenants to tap into shared infrastructure to optimise their operations,' it noted. The company also noted that it is currently in discussion with leading robotics and AI partners, including Unitree, DeepSeek, and Baidu, as it positions i-City as a scalable, AI-powered development. Meanwhile, chairman Tan Sri Lim Kim Hong said the group is not only addressing current demand but also future-proofing its assets by developing an intelligent urban ecosystem where performance, user experience, and data integration are aligned to generate long-term value for stakeholders. He added that the group has demonstrated its ability to generate recurring income and is now strengthening that foundation with intelligent systems designed to improve efficiency, adaptability, and long-term resilience across its assets. "AI and robotics are the next frontier in driving value from our ecosystem," he said. - Bernama
New Straits Times
4 days ago
- Business
- New Straits Times
I-Bhd unveils RM10mil AI and Robotics rollout to future-proof i-City
KUALA LUMPUR: I-Bhd, the master developer of i-City in Shah Alam, has committed RM10 million to deploy artificial intelligence (AI) and robotics infrastructure across its portfolio of income-generating assets, with the initiative expected to be completed by 2028. In line with its long-term digital strategy, the company is currently in discussions with leading global technology players including Unitree, DeepSeek, and Baidu to transform i-City into a scalable, AI-powered smart city. The rollout will begin at Mercu Maybank, a 33-storey corporate tower serving as Maybank's alternate headquarters, and will extend to high-profile assets such as Wyndham Suites I-City, Wyndham Suites KLCC, Wyndham Garden, DoubleTree by Hilton i-City, Central-City Mall, the i-City theme park, car parks, a data centre, and residential components. Director Datuk Eu Hong Chew said the investment is not a trend-driven move but part of a deliberate strategy to ensure long-term relevance and competitiveness for I-Bhd's business and assets. "We're not just adding tech for the sake of it. This is about sustaining performance, unlocking value, and enabling intelligent systems to optimise asset efficiency and user experience," Eu said. The initiative aligns with I-Bhd's "value extraction" strategy introduced in 2024 to maximise returns from i-City's RM10 billion gross development value (GDV). With over 50 per cent of completed GDV comprising income-generating properties, the company is now entering a new phase focused on performance optimisation and smart infrastructure. Under its four-year technology roadmap, I-Bhd aims to embed AI and robotics into both operational systems and customer-facing services—ranging from predictive maintenance and energy management to visitor flow optimisation and robotics-assisted hospitality. The company's proprietary i-City SuperApp will serve as the digital backbone of the ecosystem, integrating Robotics-as-a-Service (RaaS) features that will eventually be made available to tenants and residents to enhance their operations. "When we launched i-City, we didn't set out to build just another property development. We set out to build Malaysia's first digital city. We set out to build a place where infrastructure, technology, and people come together to create lasting value. "That's how we became the first to deploy fibre-to-home as a core utility and build a Tier-3 data centre. But that was just Phase 1. "We kept the technology ecosystem dynamic and scalable for future enhancements. Today, as technology matures, we are ready and entering Phase 2, where intelligence is embedded into the ecosystem. This phase is where the city starts to think, learn, and adapt," Eu said. AI will allow the company to manage buildings more intelligently through predictive maintenance, energy optimisation, and visitor flow management, while robotics will assist in service delivery, from concierge bots to logistics and cleaning, he said. "AI and robots are expensive today, especially for individuals or small businesses. But with RM1 billion in assets, we have the scale to deploy and share this infrastructure. Over time, as the tech matures, we expect it to be accessible within corporate budgets," said Eu. He added that I-Bhd is following the same playbook it used two decades ago, working with strategic partners to integrate advanced technology that enhances property value and maintains i-City's edge as Malaysia's leading tech city. "When we started i-City, it wasn't just about building property. It was about building a digital city. Phase one was about infrastructure, fibre-to-home, and Tier-3 data centres. Now we're entering Phase Two, where the city begins to think, learn, and adapt," he said. Chairman Tan Sri Lim Kim Hong echoed the sentiment, adding that AI and robotics represent the next frontier in delivering value across I-Bhd's ecosystem.
Business Mayor
15-05-2025
- Business
- Business Mayor
ThredUp overhauls resale service, slashes fees
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. With an open-source approach to tech, ThredUp is overhauling its resale-as-a-service offering with new features and a new fee structure, the recommerce platform announced last week. With the update, upfront and monthly fees for branded resale shops on ThredUp have been eliminated entirely, and the company is lowering the usage-based fees for its closet Clean Out and customer cash out programs. The resale company is also giving brands access to its cleaning and repair partners, connecting them with end-of-life service providers and integrating returns more deeply into branded shops. ThredUp will launch a peer-to-peer resale platform by the end of the year and now also allows brands to list menswear on their resale shops. The changes came as ThredUp reported a 10% jump in Q1 revenue , to $71.3 million. Active buyers grew 6% and net loss narrowed to $5.2 million, per a press release. Describing its enhanced brand resale service as a 'universal recommerce layer,' ThredUp envisions that it could change the way brands sell used items, much like Amazon Web Services reshaped cloud services or Shopify changed e-commerce for small businesses, the company said in a statement. ' ThredUp has decided to take an open-source approach and make our RaaS software layer available to our partners for free, knowing that their ability to launch scalable and profitable resale channels will serve our strategic goals for this sector in the long run,' ThredUp CEO James Reinhart said in a LinkedIn post . 'We believe the future of retail is circular, so we're lowering the barriers for brands to not just participate, but to lead. This strategic evolution of RaaS will fundamentally change how apparel and accessory companies build truly impactful circular programs,' Reinhart said. ThredUp is also touting the offering as a potential tariff defense, giving brands a supplemental revenue stream that relies on domestic goods. As trade policy continues to shift, ThredUp in a recent report forecast an increase in demand for secondhand goods and growing interest among executives in using resale to their advantage. As it revamps its retail-as-a-service offering, ThredUp remains optimistic about the near future. For both the second quarter and the year, the company anticipates revenue will grow 10% at the midpoint, reaching between $281 million and $291 million for fiscal 2025.
Yahoo
14-05-2025
- Business
- Yahoo
ThredUp overhauls resale service, slashes fees
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. With an open-source approach to tech, ThredUp is overhauling its resale-as-a-service offering with new features and a new fee structure, the recommerce platform announced last week. With the update, upfront and monthly fees for branded resale shops on ThredUp have been eliminated entirely, and the company is lowering the usage-based fees for its closet Clean Out and customer cash out programs. The resale company is also giving brands access to its cleaning and repair partners, connecting them with end-of-life service providers and integrating returns more deeply into branded shops. ThredUp will launch a peer-to-peer resale platform by the end of the year and now also allows brands to list menswear on their resale shops. The changes came as ThredUp reported a 10% jump in Q1 revenue, to $71.3 million. Active buyers grew 6% and net loss narrowed to $5.2 million, per a press release. Describing its enhanced brand resale service as a 'universal recommerce layer,' ThredUp envisions that it could change the way brands sell used items, much like Amazon Web Services reshaped cloud services or Shopify changed e-commerce for small businesses, the company said in a statement. 'ThredUp has decided to take an open-source approach and make our RaaS software layer available to our partners for free, knowing that their ability to launch scalable and profitable resale channels will serve our strategic goals for this sector in the long run,' ThredUp CEO James Reinhart said in a LinkedIn post. 'We believe the future of retail is circular, so we're lowering the barriers for brands to not just participate, but to lead. This strategic evolution of RaaS will fundamentally change how apparel and accessory companies build truly impactful circular programs,' Reinhart said. ThredUp is also touting the offering as a potential tariff defense, giving brands a supplemental revenue stream that relies on domestic goods. As trade policy continues to shift, ThredUp in a recent report forecast an increase in demand for secondhand goods and growing interest among executives in using resale to their advantage. As it revamps its retail-as-a-service offering, ThredUp remains optimistic about the near future. For both the second quarter and the year, the company anticipates revenue will grow 10% at the midpoint, reaching between $281 million and $291 million for fiscal 2025. Beyond introducing new recommerce features for brands, ThredUp also curated a vintage and vintage-inspired pop-up this month in collaboration with Beyond Retro. The online pop-up featured more than 17,000 womenswear items priced between $10 and $200. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Nightfood Signs LOI to Acquire Hilton Garden Inn in Rancho Mirage, California, Adjacent to Disney's Cotino Development
Strategic acquisition strengthens NGTF's real estate footprint and positions the Company for institutional-grade hospitality automation deployment TARRYTOWN, N.Y., May 12, 2025 (GLOBE NEWSWIRE) -- via IBN – Nightfood Holdings, Inc. (OTCQB: NGTF) ('Nightfood' and the 'Company'), a hospitality automation company pioneering artificial intelligence (AI)-powered robotics and strategic hotel ownership, today announces the execution of a Letter of Intent (LOI) to acquire the Hilton Garden Inn located in Rancho Mirage, California. This 120-room property, with plans for a five room expansion to 125 rooms, is strategically located adjacent to Cotino™, a Storyliving by Disney community—a first-of-its-kind, 618-acre residential resort development. The total transaction is valued at $36.93 million, making it one of the largest acquisitions in the Company's history to date. The Hilton Garden Inn will continue to operate under the Hilton flag and serve as a flagship property for Nightfood's expanding Robotics-as-a-Service (RaaS) platform—designed to reduce labor costs, address staffing challenges, and enhance operational efficiency across the hospitality industry. This acquisition is expected to be the second of many as Nightfood actively pursues similar high-value assets, including some at even higher price points. The Company's strategic focus remains on acquiring real estate that complements its automation platform, driving long-term growth and shareholder value. 'This acquisition reflects our commitment to building a high-impact, asset-backed platform that merges real estate and automation,' said Jimmy Chan, CEO of Nightfood Holdings. 'The proximity to Disney's Cotino project offers significant long-term upside, and this Hilton property gives us a high-visibility location to showcase our robotic automation technologies in a live, revenue-generating environment.' Strategic Location and Long-Term Value The Hilton Garden Inn is positioned to benefit from Cotino's transformative impact, which is expected to attract significant year-round foot traffic, affluent residents, and both domestic and international visitors. Nightfood anticipates long-term gains in both occupancy rates and average daily rates (ADR), driven by the Cotino effect and the operational cost savings delivered by its automation suite. Key Transaction Terms Purchase Price: $36.93 million (including planned expansion to 125 rooms). Equity Consideration: Net $26.43 million in Series C Convertible Preferred Stock (tax-free share exchange, Section 368). Earn-Out: Additional of $3 million Series C shares upon completion of five new guest rooms. Exclusivity: 180-day No-Shop period. Closing Conditions: Delivery of two years of audited financials. Nightfood's uplisting to NASDAQ or NYSE American. Satisfaction of outstanding mortgage (not to exceed $10.5 million). Flagship Location for Automation Showcase Nightfood plans to leverage the Hilton Garden Inn as its second live testing ground for its AI-powered Robotics-as-a-Service (RaaS) platform, following the successful deployment at its first test property, a Holiday Inn. By operating under a different flagship brand, Nightfood can refine and expand its automation solutions across diverse hospitality environments. This aligns with the Company's broader strategy of combining advanced automation with prime real estate assets, further establishing its leadership in technology-driven hospitality solutions. Looking Ahead As part of its disciplined growth strategy, Nightfood will continue pursuing strategic acquisitions and expanding its automation capabilities. Investors can expect further updates as the Company advances through closing steps and uplisting preparations. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is revolutionizing the hospitality industry by combining AI-powered robotics with strategic hotel acquisitions. The Company's innovative approach uses advanced automation technology to significantly improve hotel efficiency, reduce operating costs, and address labor challenges. As automation rapidly becomes the standard rather than a trend in hospitality, Nightfood is committed to setting that standard — delivering intelligent solutions that enhance guest experiences and streamline operations. With its dual focus on owning hotel properties and offering Robotics-as-a-Service (RaaS), NGTF is strategically positioned to capitalize on the rapidly growing global service robotics market, which is expected to surpass $170 billion by 2030. This integrated business model provides scalable revenue streams and positions NGTF as a leader in technology-driven hospitality solutions. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties, and actual results may differ materially from expectations. Investors are encouraged to review the Company's SEC filings for additional information. For more information on Nightfood Holdings, Inc. (OTCQB: NGTF), please visit Investor & Media Contacts Investor Relations Contact: Nightfood Holdings, Inc. Email: ir@ Media Relations Contact: Email: media@ Phone: (866) 261-7778 Corporate Communications IBN Austin, Texas 512.354.7000 Office Editor@
