SGAG has the last laugh; Singapore startup rakes in profits from day one

It earns the right to shout out 'limpeh', and has now bagged US$10 million in Series A funding, led by early-stage investor Quest Ventures, Temasek unit Pavilion Capital and Bent Pixels

Sharanya Pillai

Published Thu, Nov 25, 2021 · 05:50 AM

Startup funding

Singapore

BEHIND the wacky memes and skits of SGAG, serious money is being made. Its parent company, Hepmil Media Group, has been in the black since inception. The startup recorded S$5.2 million in revenue and over S$812,800 in profit in 2020, according to regulatory filings.

But in the past 6 years, it had raised only US$900,000 from angel investors - in 2017. One could say that's "nubbad", going by the lingo of the startup with the cheeky name (try reading "Hepmil" backwards).

The company is now at an "exciting" inflection point as it evolves beyond content publishing, co-founder and chief executive Karl Mak told The Business Times.

Hepmil is tapping institutional funds for the first time, as it expands into w…