In December 2015, BEAM was formed with a simple mission to empower entrepreneurs by providing them with the support and backing they need. Began as a startup organizing monthly networking events, it has undoubtedly traversed a long path since then.
It brought its business connectivity, news, and events app to market in June and yesterday announced that it has raised an undisclosed amount of seed funding from Tinkbig Venture, a US$10 million Malaysian fund. The startup will utilize the freshly-raised funds to increase its presence in Southeast Asia, with main focus on Singapore and Malaysia. It will also roll out professional services to help startups and entrepreneurs connect and grow their businesses.
The Singapore and Malaysia-based startup believes in fostering strong collaborations and partnerships amongst founders, stakeholders, media/PR, and more. Currently, it is working with more equity crowdfunding platforms and angel investors to help them get more value out of their investments.
Kenneth Ho, Founder of BEAM, in a press statement said,
BEAM aims to drive as much value as we can to bring their businesses to the next level, at scale.
BEAM is currently operating in three countries – Singapore, Malaysia, and Japan and plans to expand into Vietnam and Philippines soon. It hosts events where startups get an opportunity to pitch their ideas to potential investors. It earns majorly through event ticket sales and sponsorships.
Its app enables founders to communicate with investors and set up meetings and even submit “fundraising requests.” They can also connect with other “ecosystem enablers” who are in the network. Users can stay up to date with latest happenings by simply going through curated news content. The platform has received around 300 funding requests till date.
BEAM claims to have around 2,000 users from Singapore and Malaysia, of which 5 per cent are investors and startup enablers.