Singaporean modeling software provider Optimal AI files and sets terms for an $11 million US IPO
IPO Overview
Optimal AI, a Singaporean provider of modeling and simulation software for enterprises, filed on Tuesday with the SEC to raise up to $11 million in an initial public offering.
The company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Optimal AI would command a market cap of $109 million and an enterprise value of $100 million （116.8x LTM sales）。
Optimal AI, though its subsidiary Hiverlab, delivers integrated enterprise AI solutions in industries such as healthcare, manufacturing, logistics, and financial services. Its offerings include SpatialWork for spatial digital twins, CloudExpo for web-based VR360 experiences, and bespoke spatial XR solutions for clients in Singapore （78% of FY24 revenue）， Saudi Arabia （19%）， Vietnam （3%）， and other countries.
Primary shareholders include founder, CEO, and Chairman Kee Chwee Lai （37% post-IPO stake） and CTO and Director Shutao Jiang （22%）。
The Singapore-based company was founded in 2014 and booked $1 million in revenue for the 12 months ended June 30, 2025. It plans to list on the NYSE American but has not yet selected a ticker （RC ticker: OPAI.RC）。 R.F. Lafferty & Co. is the sole bookrunner on the deal.
About the Company
Optimal AI, which currently operates through its Singapore subsidiary and brand name “Hiverlab” since 2014, is an integrated Enterprise A.I. solutions provider focused on enabling digital transformation for the enterprises of tomorrow. Headquartered in Singapore, our mission is to deliver practical, high-impact enterprise A.I. technologies that help businesses across different industries like healthcare, manufacturing, logistics, and financial services to unlock new levels of operational efficiency, improve decision-making, and drive sustainable growth. The Company’s flagship product, “Optimal Enterprise AI”， is a collective suite of technology solution designed to address the diverse needs of modern businesses for clients. “Hiverlab AI”， an end-to-end integrated A.I. technology stack operating under the Hiverlab brand, is a subset of Optimal Enterprise AI. It comprises customized and configurable purpose-built technologies like spatial digital twin and video A.I., elevating and accelerating the client’s digital journey. With plans to incorporate a wider array of frontier Enterprise A.I. technologies under our ecosystem product offering “Optimal Enterprise AI”， we remain committed to building scalable and adaptable systems that can be integrated seamlessly into our solution platform to meet the evolving demands of the modern business landscape.