Singa expands to North America and launches crowdfunding campaign backed by top investors and artists
Singa modernizes the last analogue bastion of the entertainment industry by building the first truly digital streaming service for karaoke.
Since 2015, the company has expanded to 10 countries and grown into a 30-strong team perfectly aligned to do for karaoke what Netflix has done for movies and Spotify for music — to revolutionize the entire $15 billion karaoke industry and bring forth a user experience worth celebrating.
The company has launched its modern karaoke streaming service in North America and aims to ramp up the go-to-market motion with a crowdfunding campaign set live at Invesdor platform on 29 November 2021. The campaign has already attracted anchor investments from top Finnish investors as well as artists and music industry players. 1.4M€ anchor investment comes from Finnish Industry Investment Ltd, Ilkka Kivimäki’s Maki.vc, Superhero Capital, Corporatumand Icebreaker.vc’s partner Kristian Pentti.
Frontline investors from the music industry include some of Finland’s biggest stars: JVG’s record label PME Records, Pyhimys, Teflon Brothers, Mokoma, Stam1naand Pikku G.
On top of the new funding, Singa raised a 3M€ round led by Maki.vc at the end of 2018, making the total unreleased pre-crowdfunding amount to 4,4M€.
Singa drives change in all corners of the karaoke industry
Karaoke is a hugely popular and extremely fun form of entertainment, but also an untapped $15 billion business opportunity. While other entertainment industries have moved to digital distribution, karaoke is still stuck in the ’90s, with expensive and bulky equipment, 8-bit graphics, and dodgy karaoke videos.
Singa believes singers, karaoke venues as well as artists and music rights owners across the world deserve better.
For consumers, the Singa karaoke app gives access to the largest licensed karaoke catalogue today, on any device. You can sing on your own, make it a party with friends, or use our finder feature to spot the nearest Singa-powered karaoke venue and hit the stage or belt it out in a karaoke room.
On the B2B side of things, Singa helps bars and other nightlife venues grow their revenues with modern karaoke, background music, and display advertising software. We have a rapidly growing network of over 800 Singa-powered venues including some of the biggest hospitality companies in Europe, the United States, Canada, and Australia.
Artists, record labels, and music publishers play a central role in making karaoke possible, but until today, have received very little compensation. Singa fixes the broken model by providing the music industry with a completely new source of revenue as well as a way for artists to connect with their fans in new ways.
I’ve seen Singa relentlessly strive towards a digital and modern karaoke world and their journey has a lot of similarities to how streaming changed the music market back in the day.says Teemu Laitinen, CEO of PME Records (Home of some of Finland’s biggest acts)
PME Records wants to join Singa’s mission in deepening the connection between karaoke and music industries as well as provide new ways of fan engagement.
Singa is uniquely positioned to become the biggest brand in a multibillion-dollar global market. And bring more singing to the world while we’re at it.
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