PouchNATION closes funding round by Cradle Seed Ventures, Singapore syndicate

Photo from PouchNation Facebook page.

Singapore-based events management startup venture PouchNATION has closed a funding round involving Malaysia’s early-stage venture fund, Cradle Seed Ventures and a group of private Singaporean investors. Financial terms of the transaction remain undisclosed.

The venture through an event management system helps organisers manage large scale events.

The startup raised a seven-digit sum in US dollars to build a data-driven solution. An existing investor in the firm is Captii Ventures, which led a $520,000 seed investment in June 2015.

The company’s event management system uses NFC (near field communication) wristbands to replace paper tickets as passes and enables cashless payments within the venue. It also enables crowd control by restricting entry to specific parts of the venue and can operate offline should networks crash.

PouchNATION was started as a rewards platform in 2012 but evolved into a cashless payment and event management system, with its wristbands solving pain points such as security, theft, fraud, event flow and event control. The use of the wristbands also aids in minimising the sale of counterfeit passes.

According to CEO Ilya Kravtsov, the latest investment will help in development of their analytics capabilities, which leverages on the offline element of the wristbands to collect and analyse customer behaviour with higher levels of precision than other tracking tools.

In an exchange with Tech in Asia, Kravtsov explained: “The data that is collected revolves around spending behavior, personal preferences, crowd moving patterns, heat maps, and interaction with newly launched products with a very specific focus on certain target communities such as millennials and the wellness community.”

This will allow PouchNation to expand its revenue model and monetise its data, allowing event organisers and brands to further refine their event design and formats, as well as provide better targeting for event marketing.

Also Read:

Asia Digest: Bfab gets funds from Captii; CommIT Capital invests $2m in RDP.RU

Gobi leads $800K funding in Captii-backed Vietnamese fintech OnOnPay

Malaysia: Cradle partners six more, will put $3.26m together in tech startups

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.