Singapore-based FTAG Ventures invests over S$10m in BeLive and other livestreaming companies
FTAG Ventures raised its total investments in Southeast Asia's livestreaming solutions leader BeLive Technology to S$9.3 million, which will aid BeLive in its global expansion.
Other notable investors of BeLive include Singapore's largest content creator and national media network Mediacorp, the current Speaker of the Parliament of Singapore Tan Chuan-Jin, the former Group Chief Financial Officer for Fullerton Healthcare Tam Chee Chong, and the founder of Super Group Te Kok Chiew. Further investments in livestreaming and live commerce startup HyperLive Entertainment brings FTAG Ventures' commitment in this red-hot industry to over S$10 million.
The COVID-19 pandemic has reshaped the way the world does business, which will persist even in a post pandemic world. As businesses struggle to find a foothold with strict movement restrictions, livestreaming offers a lifeline for stakeholders who wish to carry on business as usual – an industry BeLive estimates to be worth some US$411 billion by 2028. However, businesses who wish to tap into this lucrative space often face uphill challenges while transforming their operations, an issue BeLive seeks to address with their multitude of solutions.
From quick and easy Software Development Kits (SDKs) that enable businesses to integrate livestreaming capabilities into their existing workflow, to bespoke options that involve creating an entire new livestreaming platform or ecosystem, BeLive Technology offers solutions for every requirement. BeLive is also integrating AI and machine-learning capabilities to their livestreaming solutions, offering unprecedented insights, metrices and data for their clients, and clients including Mediacorp, Rakuten, Zalora, Bukalapak and Trendyol are testament to the robustness and scalability of these solutions, as well as BeLive's dominance in the industry.
Caleb Chew, FTAG Ventures Principal, said that livestreaming will have a profound effect on the way businesses evolve, and impact the way brands continue to build their businesses.
"We are starting to see livestreaming take center stage in e-commerce and even in entertainment such as live virtual concerts and events. As much as e-commerce changed retailers forever, we are starting to see livestreaming having the same effect on e-retailers today, with billions of dollars transacted in mere minutes. Brands now realise that livestreaming is the way forward, and not just another feature in the e-commerce playbook."
Singapore OTT Niche TV licensed platform HyperLive also observes that viewers have been moving away from traditional broadcast content and prefer engaging content that are delivered online instead, a behaviour that resulted in livestreaming accounting for 82% of internet traffic in 2021. As an online platform that has been approved by the Infocomm Media Development Authority (IMDA) of Singapore to broadcast television programmes over the internet and to provide "over-the-top" (OTT) television services, HyperLive produces and distributes highly engaging content that transforms the way viewers consume media via livestreaming.
Ronald Wong, FTAG Group Managing Partner, noted that with the rise of livestreaming, and more recently, the metaverse, engaging content is no longer a luxury but a necessity. Discerning viewers are now more demanding than ever, and those who can deliver, surely, will enjoy the rewards that come with it.
"FTAG Ventures is always ready, and always on the lookout for the next revolutionary trend that will transform the world as we know it. 3D virtual environments matched with engaging livestreaming features are exciting and fit those criteria. Besides BeLive Technology and HyperLive Entertainment, who are leaders and drivers with their innovation and vision, we are also actively seeking out investments that can further complement their capabilities."