Leading Karaoke brand Popsical secures SGD$6.9M in Series A funding, led by Quest Ventures
Popsical has secured an investment of SGD$6.9M led by Quest Ventures. Seeds Capital also joined the round. Other notable early investors are Apricot Capital, Teo Heng KTV, Cash Studios KTV, OMG Ventures, and Mediacorp.
Funds raised will be used for digital and geographic market expansion, hiring go-to-market talent and developing Popsical’s roadmap of modernised products and SAAS services.
“It is a big win for us to have the Quest Ventures partners leading this round. They are seasoned domain operators across numerous markets who have both extensive technical and business networks. Their product development and go-to-market advisory will be instrumental in Popsical’s expansion plans,” says Mr Faruq Marican, Co-Founder and the Chief Executive Officer of Popsical.
The Popsical Remix Karaoke system, a “Cloud Karaoke system with Spotify-like features”, has gained strong positive consumer and corporate responses alike in South East Asia, Middle East, and Europe. It has also been recognized as the ‘Best Karaoke System’ in Asia Tech Awards 2019.
“We like that Popsical is well-positioned to liberate the location, performance and technical equipment dependency of Karaoke,” says Jeffrey Seah, Partner of Quest Ventures. “They’ve spotted a viable gap in the market and we anticipate increasingly interesting opportunities for Popsical to exploit, especially with the Zoom-environment meeting becoming a part of family and community life across the globe. They are an excellent team of technology lifestyle entrepreneurs and have our full support.”
Funds raised will be used for digital and geographic market expansion, hiring go-to-market talent and developing Popsical’s roadmap of modernised products and SAAS services.
“It is a big win for us to have the Quest Ventures partners leading this round. They are seasoned domain operators across numerous markets who have both extensive technical and business networks. Their product development and go-to-market advisory will be instrumental in Popsical’s expansion plans,” says Mr Faruq Marican, Co-Founder and the Chief Executive Officer of Popsical.
The Popsical Remix Karaoke system, a “Cloud Karaoke system with Spotify-like features”, has gained strong positive consumer and corporate responses alike in South East Asia, Middle East, and Europe. It has also been recognized as the ‘Best Karaoke System’ in Asia Tech Awards 2019.
“We like that Popsical is well-positioned to liberate the location, performance and technical equipment dependency of Karaoke,” says Jeffrey Seah, Partner of Quest Ventures. “They’ve spotted a viable gap in the market and we anticipate increasingly interesting opportunities for Popsical to exploit, especially with the Zoom-environment meeting becoming a part of family and community life across the globe. They are an excellent team of technology lifestyle entrepreneurs and have our full support.”
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