FTAG Ventures has led a bridge funding round for a company that wants to reshape livestreaming through deep learning AI integration and advanced analytics capabilities. The venture builder spearheaded a S$6 million bridge funding round for BeLive Technology, a Singapore-based company aiming to expand its presence globally by establishing partnerships with e-commerce giants, apps and brands.
This development follows news last year when FTAG Ventures announced that it had acquired a significant stake in BeLive Technology, whose shareholders include notable names such as Mediacorp, Singapore’s largest content creator and national media network, and the current Speaker of the Parliament of Singapore Mr Tan Chuan Jin.
Caleb Chew, Principal of FTAG Ventures, commented, “We have seen an exponential growth in the live streaming industry, particularly live commerce. Businesses are ready to adopt the use of interactive live streaming as a means to improve their business metrics and safeguard their business in a pandemic. The pandemic has changed the way we do business profoundly, and this will persist even in a post-pandemic world. BeLive Technology has a strong suite of products which continues to serve notable names globally. Their foresight to develop and include AI and machine learning capabilities for their clients will trailblaze the industry even further. As a venture builder, we are excited to build the business alongside them.”
BeLive Technology powers live commerce for businesses like Zalora, Tumi and Bath & Bodyworks under the Valiram Group, Rakuten Group, and Bukalapak, and has delivered live video to over 100 million viewers worldwide. BeLive CEO Kenneth Tan commented, “This funding round will allow us to grow our team, further innovate and build our product lines, deepen our AI and machine learning capabilities in live streaming, and expand our operations beyond Southeast Asia.”