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PouchNATION closes Series B funding round led by Traveloka, SPH Ventures

PouchNATION closes Series B funding round led by Traveloka, SPH Ventures

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3 -min read
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EVENT management technology startup PouchNATION has closed a Series B funding round led by regional technology company Traveloka and joined by SPH Ventures.

The amount raised was not disclosed.

Singapore-based PouchNATION, which specialises in near-field communications technology, will use the proceeds to expand its product range and its geographical operations.

The firm aims to go beyond music festivals and take on a wider range of events such as sports events and conferences. PouchNATION is also looking to expand into more cities in Indonesia, Vietnam and the Philippines.

Near-field communication enables two electronic devices, one usually being a portable one, to communicate within a small distance between each other.

PouchNATION's "event wristbands", for example, can be used to manage access, enable cashless payments, track activity and provide analytics data.

PouchNATION will be launching a third product, PouchDIGITAL, which is focused on providing a more scalable and low-cost solution for event organisers with low budgets but with extremely high-volume events.

Having all the same features and functions as PouchNATION, PouchDIGITAL does not use NFC chips, which are too expensive for very large events with low ticket prices, and instead uses pure software which is either web- or application-based.

PouchNATION founder and chief executive Ilya Kravtsov said: "The company plans to transition from being just a service provider for events and venues to being a leading entertainment platform that connects hundreds of thousands of event-goers and attraction seekers across Asia with e-commerce giants, brands and other players seeking to get visibility and exposure among their target customers."

Mr Kravtsov told BT that PouchNATION's platform has enabled US$50 million of transactions, and this is expected to multiply in the next 12 to 24 months. Sylvia Gunawan, vice-president of revenue and growth at Traveloka Xperience, said: "We were impressed with the progress they have achieved so far in disrupting the entertainment industry and are very proud to support the PouchNATION team to further evolve their product by leveraging the synergies with Traveloka's key business – to provide an end-to-end solution for travel and lifestyle needs."

SPH Ventures is the venture arm of Singapore Press Holdings, which publishes The Business Times.