AiRWA Inc.

AIRWA INC. provides AI services and licenses intellectual property to companies in the online dating industry. On November 21, 2024, the company acquired Yuanyu Enterprise Management Co., Limited ("YYEM") for $56 million in cash and shares. YYEM, which licenses intellectual property to online dating companies, became AIRWA INC.'s sole operating subsidiary. As part of this transaction, AIRWA INC. sold its subsidiary, Slinger Bag Americas Inc., to a new Florida limited liability company owned by its prior management team. Also on November 21, 2024, five new individuals joined the company's Board of Directors. On January 30, 2026, AIRWA INC. acquired the holding company of Rafael AI Sdn. Bhd. ("Rafael AI"), an AI-specialist company based in Malaysia, for $140 million in USDT. Rafael AI became a wholly owned subsidiary. Through Rafael AI, AIRWA INC. offers "data-to-AI" end-to-end solutions, which are full-cycle services helping enterprises move from raw data to intelligent applications. This business is organized into five interconnected AI-related modules that form a closed-loop system for data generation, model refinement, and operational feedback. These services are designed for specialist industries including healthcare, industrial manufacturing, and autonomous driving. AIRWA INC. recorded $6.6 million in revenue from its AI services business in the final quarter of its financial year ended April 30, 2026, which was the period Rafael AI was a subsidiary. On July 30, 2026, AIRWA INC. acquired 97% of Hongkong Best Life Trade Co., Limited ("Best Life"), an international trading company, for $50 million in a combination of cash and stablecoin, with additional earn-outs based on Best Life achieving certain performance milestones.