The company, known for investing in innovative IT and social media firms with a focus on the APAC region, is set to expand its portfolio by exploring opportunities in AI. This move comes as the global technology sector witnesses rapid changes driven by new AI models and applications.
The company has appointed Ms. Elena Suet Sum Law as the new Chief Executive Officer, effective immediately, pending final regulatory approvals. Ms. Law, who has been with the company for over seven years as General Manager, will also join the Board of Directors. She holds a Bachelor’s degree from City University, Hong Kong, and has been instrumental in maintaining the effectiveness of the company’s commercial activities.
Meanwhile, Chairman Mr. Nelson Law has resigned from the Board due to competing corporate interests. Mr. Law, who established the business eight years ago, will be succeeded by Mr. Geoffrey Griggs as Non-Executive Director.
“The Board and I have been carefully observing the powerful impact of AI applications and outcomes, and how the resulting impacts are going to dramatically change the landscape of the IT & Technology industry. As a Company committed to adapting our commercial approaches in order to create shareholder value, it is after a prolonged period of careful due diligence that we announce this conditional investment agreement with EVOO AI and, if successful, look to complement the transaction with new additions to the Board & Management that will add further depth and industry experience,” said Mr. Nelson Law.
EVOO AI PLC, the company Sealand is investing in, is a data platform with specialized AI learning models for the luxury goods sector. Its flagship application, Olive, is a luxury e-commerce marketplace featuring influencer-curated boutiques. EVOO’s plans for the next 12 months include completing an equity funding round, expanding its pipeline of luxury brand partners, and evaluating a potential go-public transaction.
The investment aims to leverage EVOO’s AI capabilities to provide in-depth market trends and consumer behavior insights, driving growth and innovation in the luxury goods sector.