Singapore-headquartered Spout Entertainment Group has raked in $2.1 million (S$3 million) in a seed round of funding from REAPRA. It will utilize the fresh inflow of funds to support its expansion into emerging markets, with Myanmar first on cards. Also, it is setting aside up to $600,000 to provide free education resources to the local community.
Post this round, Shuhei Morofuji, REAPRA Founder, and CEO; and Chief Financial Officer Takeo Matsuda, will be seen joining the group’s advisory board. While, Daryl Teo, Spout’s Founder and CEO will join REAPRA’s five-seat investment committee. In a statement, he said,
Southeast Asia is one of the world’s fast-growing region, with a burgeoning young-middle class, and a strong appetite for real-time on-demand content, particularly in the sphere of competitive gaming. Millennials, in particular, want to have their preferred content when they want it, where they want it. Spout is committed to meeting that need.
Founded this year itself, Spout Entertainment Group is said to be the fastest growing e-entertainment company in Southeast Asia. It has a bigger agenda to make e-sports in Southeast Asia a sustainable ecosystem, which it aims to achieve by solving industry pain points and pursuing profitability. Its subsidiary companies include e-sports network Spout360.com, SpoutAgency, the e-sports influencer agency, e-sports gaming stadium Spout Arena and e-education company Cite. REAPRA CEO Morofuji comments,
Daryl’s and Spout’s ambition is to create a Southeast Asian business that addresses each country’s unique flavour, which will give us valuable clues and the confidence to provide other REAPRA products and services seamlessly across the region.
In addition, the company has announced the acquisition of Zaany Technologies, a venture builder specializing in marketing campaigns, technology consulting and mobile applications. Its clienteles include Grab, Singapore Tourism Board, Association of Chartered Certified Accountants and Accelerate Korea, a government start-up incubator.
Hence, Spout will leverage on their expertise in designing mobile applications to develop a live-streaming portal for e-sports influencers. By doing this, they will facilitate a better connection of influencers with their fan followings, and for brands to market their products via 10-second advertisements.