SINGAPORE - Traveloka and Singapore-based venture capital firm SPH Ventures co-led a Series B funding round for event tech startup PouchNation. DealStreet Asia reported that the round generated US$ 4 million.
The deal is Traveloka’s first publicly disclosed investment in a tech startup and is part of its expansion to other fields in the online travel agency (OTA) industry. It also follows the launch of Traveloka Xperience, which enables users to find and book various activities through the Traveloka platform.
Founded in 2012, PouchNation initially engaged in the development of a near field communication (NFC)-based system for guest registration, cashless payments, access control, activity tracking, social engagement, and analytics reporting.
The startup has since expanded to event discovery and ticket sales. It currently operates in 10 countries across Southeast Asia and claims to have facilitated over US$ 50 million worth of transactions. (MS)