Singapore-based ticketing software and distribution platform GlobalTix has closed its series B funding round of $6.5 million led by venture capital (VC) firm Tin Men Capital, according to a release dated Oct 14.
The funding round included participation from SEEDS Capital, the investment arm of Enterprise Singapore; ORZON Ventures, a Thailand-based VC managed by 500 Thailand; and a US based family office.
GlobalTix’s previous fundraising round was in 2021, which saw a $3 million fresh capital injection also from Tin Men and SEEDS. The company says that it will use this fresh funding to fund its expansion plans, including exploring and implementing AI to enhance the company’s technology offerings.
GlobalTix has 10 offices across Asia, including China, India, Indonesia, Japan, Korea, Malaysia, Philippines, Thailand and Vietnam. It issues over 12 million tickets annually, and is a partner for attractions across Asia Pacific such as Jewel Changi Airport, Taman Safari Indonesia, Merlin Entertainments among others.
Tin Men Capital, its lead investor for these past two rounds of fundraising, is licensed by the Monetary Authority of Singapore, and led by former Temasek Holdings employee Murli Ravi.
"This investment will enable us to strengthen our foothold in APAC and expand our market access. We will also deploy AI and predictive analytics to identify trends and optimise pricing for our partners in the tours and activities space, and enhance traveller interactions with attractions,” says CEO of GlobalTix Chan Chee Chong.
Co-founder and managing partner of Tin Men Capital Jeremy Tan says that the performance, capital efficiency and resilience of GlobalTix has inspired investor confidence to return in the round of funding to scale further. “The Tin Men Capital team is excited with this opportunity to help the company build on its momentum to continue to lead innovation in the travel tech industry,” he says.
