GARAGE
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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
Published Wed, Nov 24, 2021 · 09:50 PM
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).
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