iLabs

What iLabs does

iLabs is a privately held Sri Lanka-headquartered IT services and product company founded in 2017, operating with claimed deep ties to US Silicon Valley. The firm provides custom software development and digital transformation services across five service lines — BigData/AI Engineering, eCommerce Solutions, UI/UX Design, Delivery Tech, and Web & Mobile Apps — and serves a hybrid client base of startups and established enterprises globally. Publicly named customers include Incisive Software Corporation, Partnership for Capital Growth, and Expert Rooter & Plumbing, with partner logos spanning Sephora, Declara, IPSY, Quilt.ai, Legacy Capital Investment, Nawatan, and Spordee.

The business model combines project-based professional services revenue with transaction-based revenue from two wholly-owned in-house platforms: Cloud of Goods, an online rental marketplace for travel and mobility gear that generated over US$5M in revenue in its first three years, and Xenia, a customizable web platform for modern businesses. iLabs has productized select AI capabilities including Fashion AI (computer vision combined with NLP for fashion product attribute identification) and Brand Analytics & Insights AI (sentiment analysis and social media analytics), and has expanded into generative AI for video and image content using third-party models such as Google Veo, OpenAI Sora, and Adobe Firefly. Underlying technology spans Laravel, Django, React, Node.js, Java, Python, PostgreSQL, MySQL, Redis, Apache Spark, Kafka, Hadoop, and Google BigQuery.

iLabs operates a sales-led go-to-market, marketing through its website, case studies, founder networking, and organic social channels, with a 2026-dated website and active careers page signaling ongoing operations. The company is led by Founder & CEO Punsri Abeywickrema, a Silicon Valley veteran whose prior roles include technology and management positions at Oracle, PayPal, LinkedIn, Zynga, Sephora, and Dialog Axiata, and who won the PayPal Developer Challenge Innovation Award. No institutional or venture funding is disclosed, and the primary entity is domiciled in Sri Lanka despite the company's US-market posture.

Name

iLabs

Legal name

iLabs

Website

https://ilabs.lk

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

iLabs is a Sri Lanka-headquartered IT services and product company offering custom software development, eCommerce, AI/ML, UI/UX, and delivery technology to startups and enterprises globally, with in-house platforms Cloud of Goods (rental marketplace) and Xenia (web platform).

Ownership category

akta.pro rank

Product category

Custom Software Development Services

NAICS

Computer Systems Design Services (541512)

SIC

Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)

akta.pro primary industry

Data Engineering, Integration & ETL/ELT Services (BPAEAHAB)

Keywords

• Custom software development
• AI engineering services
• ECommerce platform development
• Mobile app development
• UI/UX design services

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Custom Software Development: Bespoke software development services including web applications, mobile apps, eCommerce platforms, and enterprise solutions. Revenue generated through project-based contracts with global clients.
2. eCommerce Platform Operations: Operates Cloud of Goods, an online rental marketplace generating transaction-based revenue through product rentals and delivery services.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

iLabs is a product design and innovation group delivering five core service areas: BigData/AI Engineering, eCommerce Solutions, UI/UX Design, Delivery Tech, and Web & Mobile Apps development. The firm also operates two productized platforms—Cloud of Goods, an online rental marketplace for travel and mobility gear, and Xenia, a customizable web platform for modern businesses—along with AI offerings including Fashion AI and Brand Analytics & Insights AI. The company combines Silicon Valley engineering quality with Sri Lanka-based cost advantages, serving startups and established organizations globally.

Product overview

iLabs is a product design and innovation group offering a portfolio of five core service areas: BigData/AI Engineering (data processing, analytics, and AI solutions), eCommerce Solutions (platform development and integrations), UI/UX Design, Delivery Tech (fleet and delivery management software), and Web & Mobile Apps. The company also operates two notable platforms: Cloud of Goods (an online rental marketplace generating over US$5M revenue in 3 years) and Xenia (a customizable web platform for businesses). Key AI-powered modules include Fashion AI for retail attribute identification and Brand Analytics & Insights AI for social media and content analysis. The overall offering combines service-based consulting with productized platforms, serving both startups and established organizations seeking digital transformation.

Differentiator

Problem solved

Functional benefit

Products and services

• BigData / AI Engineering

Quantifiable outcome

• Over US$5M revenue generated in 3 years for Cloud of Goods venture
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability13 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Cloud of GoodscoreOthersCloud of Goods is an in-house venture of iLabs, operating as an online rental marketplace for travel and mobility gear. This vertically integrated eCommerce business demonstrates iLabs' capabilities in building complex marketplace platforms.
• SephoraminorStrategic or Co-development PartnerSephora is listed as a client/partner with prior employment connection through founder Punsiri Abeywickrema who worked at Sephora in technology roles.
• DeclaraminorStrategic or Co-development PartnerDeclara appears as a client/partner logo on iLabs website, suggesting ongoing or completed software development collaboration.
• IPSYminorStrategic or Co-development PartnerIPSY is listed as a client/partner, indicating a business relationship for technology services.
• Quilt.aiminorStrategic or Co-development PartnerQuilt.ai appears as a client/partner logo, suggesting collaboration on AI or analytics projects.
• Partnership for Capital GrowthminorStrategic or Co-development PartnerPartnership for Capital Growth is a US-based investment firm partner that has provided testimonials for iLabs' work quality.
• Legacy Capital InvestmentminorStrategic or Co-development PartnerLegacy Capital Investment appears as a client/partner logo on the website.
• NawatanminorStrategic or Co-development PartnerNawatan appears as a client/partner logo, suggesting a business relationship for technology services.
• SpordeeminorStrategic or Co-development PartnerSpordee appears as a client/partner logo on the website.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Globant: Argentina-rooted digital and cognitive transformation firm offering AI, eCommerce, and UI/UX services to enterprise clients, closely mirroring iLabs' practice areas and remote delivery approach.
• BairesDev: Latin America-based remote-first software development and consulting firm with a similar cost-arbitrage model, delivering custom web, mobile, and AI solutions to US enterprises.
• Endava: Global digital transformation and custom software engineering firm operating nearshore/offshore delivery centers, comparable to iLabs' multi-vertical service portfolio and remote delivery model.
• Praxent: US-based custom software and product design firm with nearshore engineering teams, comparable in scale, AI/digital transformation offerings, and customer mix.
• 10Pearls: Digital development company with offshore delivery centers (including South Asia) offering AI, mobile, and eCommerce services to enterprise and startup clients, similar to iLabs' positioning.
• Rootstrap: US-headquartered custom software development and digital transformation agency with strong offshore engineering centers, comparable in size and offering to iLabs.

Emerging players

• Toptal: Global freelance talent network for elite software developers, designers, and finance experts; competes for the same fractional engineering engagements iLabs serves.
• Andela: Global talent marketplace connecting enterprises with vetted remote engineers from emerging markets, competing for the same offshore engineering services demand as iLabs.

Broad incumbents

• Wipro: Large-scale IT services and digital engineering firm with broad AI, cloud, and application development practices; represents the upper bound of competition in iLabs' addressable market.
• Infosys: Global IT services and digital transformation incumbent offering the same custom development, AI, and eCommerce services at much larger scale; benchmark for enterprise competitive pressure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ilabsteam
• LinkedInlinkedin.com/company/incubate-labs
• Instagraminstagram.com/ilabs.lk

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iLabs