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Japanese ticketing platform gets $5m Series B round

  • Holden Mann
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Japanese online ticketing platform Peatix has raised $5 million in a Series B round of funding led by DG Incubation, with strategic investment from SPH Media Fund and Japanese media company Sunny Side Up.

Existing investors Fidelity Japan and Draper Nexus also participated in the round.

Peatix said that the new capital will be used to expand into new markets and enhance the company's mobile technology and event discovery systems. It will also improve the ability of event sponsors to connect with attendees.

Peatix launched in Japan in 2011, and has since expanded its operations to Singapore and the US. It manages a wide variety of events, including concerts and conferences, in 26 countries. The company offers both ticket sales and check-in services. It has managed more than 30,000 events since its launch.

DG Incubation, the investment branch of Japanese technology developer Digital Garage, also contributed to Peatix's $1 million seed round. The firm mainly invests in Asian companies, but also contributed $7.5 million to New York-based tech investor Betaworks last year.

Fidelity led Peatix's $3 million Series A round in 2013, which funded the company's expansion into Singapore. 

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