The capital will be used to strengthen BookMyShow SEA's technology operations and grow its capabilities to cater to the rising entertainment demands in the Southeast Asian region, a company statement said.
Bigtree Entertainment Singapore Pte Ltd, which owns and operates BookMyShow’s South East Asia business, on Tuesday said Singapore-based Jungle Ventures has invested in the company. The company however, did not disclose the financial details of the transaction. The capital will be used to strengthen BookMyShow SEA’s technology operations and grow its capabilities to cater to the rising entertainment demands in the Southeast Asian region, a company statement said.
With this first external fund raise for the firm’s Southeast Asian business, BookMyShow SEA will shift its headquarters to Singapore, it added. Pursuant this investment, BookMyShow SEA aims to expand its geographic footprint across the Southeast Asian market to become the leading out-of-home entertainment platform for the region, the statement said. BookMyShow entered Indonesia in mid-2016 expanding operations to other countries in the region including Singapore and Malaysia this year.
The company has been focussing on creating and building movies and live entertainment ecosystem across the region. “The out-of-home entertainment ecosystem in Southeast Asia has immense growth potential…along with an experienced investor in Jungle Ventures by our side, we aim to strengthen our capabilities to bring newer avenues of experiences, all executed at par with global standards,” BookMyShow CEO – South East Asia Kenneth Tan said.