It will be used to boost growth.
Keppel Logistics announced that it has increased its stakes in UrbanFox, which is an omnichannel logistics and channel management solutions brand, amounting to $17m.
Keppel will have a total of 85% stake in UrbanFox, with a previous capital investment of 59.6%.
UrbanFox aims to invest in technology, specifically in growing e-commerce channel management. The company also aims to optimise its foothold in Singapore, and find new opportunities in Southeast Asia by establishing more online marketplaces.
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