One of the world’s leading online Karaoke channels, Sing King, has raised around €630K seed funding via Angel Investment Network (the world’s largest online angel investment platform). This timely funding comes when most of the world is stuck inside during the pandemic and looking for home entertainment.
London-based Sing King was founded in 2014 by Chris Michael, and offers high quality karaoke content via its YouTube channel, which is approaching 7.5 million subscribers and has over 90 million views per month. With over 2,300 songs and dozens more added weekly, it is the only karaoke channel YouTube allows to operate due to licensing restrictions normally in place. The channel is run by a team of six full time staff from London.
The recent raise took just seven weeks on the Angel Investment Network (AIN) platform (the original approximate €460K target was notably achieved within 4 days) and the money raised will be used for launching standalone apps across IOS & Android as well as a web platform.
According to Xavier Ballester, Director of AIN’s broking division: “Sing King’s revenues are starting to be very impressive and they hit 7 million subscribers as we were working on it. The numbers speak for themselves and there was plenty of interest from our investor database, who saw the huge potential for the business. The raise was still going on as Covid hit but the nature of the business means it is likely to see an even faster growth trajectory as people are confined indoors looking for family activities.”
According to Jordan Gross, Sing King’s CEO: “Music has the power to transform lives and the beauty of karaoke is that it transcends age, language and culture. We have an opportunity to deliver world-class karaoke on a bigger scale. With our round complete thanks to Angel Investment Network, we will make karaoke more accessible than ever before – on mobile, TV and web – transforming moments of time into moments of joy, wherever and whenever.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
