Finland’s Singa has raised €1.75 million led by Initial Capital alongside Tamares Holdings, Superhero Capital, Reaktor Ventures, and Tekes. The money will be used for the company’s go-to-market strategy for its digital karaoke product.
The service, which targets at both consumers and venues, removes the need to run expensive equipment for karaoke services with a Netflix-like access to a fully-licensed library of music. On the consumer end, Singa provides apps for iOS, Android, web, Apple TV, and SmartTV. For venues like bars and hotels, it provides oneturn-key solution to offer karaoke to punters.
Singa, which previously raised €525,000 in a seed round, is digitising an industry that “has not changed since 1990s”, according to CEO, Atte Hujanen, who comes from an entertainment and lifestyle business background.
“This is one of those stories where you have a market that, at face value, seems unsexy but represents a huge opportunity flying under the radar of most people,” he said.
“We were impressed with Singa's management team's ability to leverage their relationships in the music distribution space globally and build a solid platform with limited resources,” added Shakeeb Alireza, partner at Initial Capital.