Singapore – K&L Gates Straits Law LLC, the Singapore office of global law firm K&L Gates, recently advised Singapore e-commerce company BlueBasket on its cross-border joint venture with Yanolja Cloud, a Korean leisure platform that was the recipient of US$1.7 billion in funding from SoftBank Vision.

The transaction involved the injection of a portfolio of shares, hard assets and IP into a Singapore-based FoodTech joint venture, Gusto X.  Under the agreement, Gusto X will utilize innovative technologies such as AI, IoT and blockchain to develop projects and solutions in the global FoodTech industry.

The deal team was led by Singapore corporate partner Marius Toime with assistance from Singapore associate Jean Gan.

Toime stated: “This is an important transaction for our client that will help them innovate.  It also demonstrates the strength of our cross-border M&A capabilities and our ability to help our clients achieve their commercial objectives in times of economic volatility.”