TIX ID Engaged in PouchNATION Series B Funding Round

Today (13/2), the developer of the digital platform for purchasing cinema tickets, TIX ID announced its involvement in the PouchNATION series B funding round. There was no information about the amount of investment, what is clear is that this corporate action is the opening for strategic cooperation between the two companies. Later, the technology developed by the Singapore-based startup will be used TIXID to support activities off-air.

One of PouchNATION's flagship products is an NFC (Near-field Communication)-based device that is applied to make it easier for event organizers to manage participant mobility. The most common application, when participating in an event participants will get a bracelet equipped with an NFC sensor. The committee can record by sticking the bracelet to the device scanner or mobile phone, when participants enter or exit venue.

Reporting is done automatically, because the recorded data will be synchronized to the server and analyzed through the provided dashboard. In addition to access to and from events, this product can also be designed as a payment system cashless support transactions at events.

"This collaboration will facilitate the management of an event to be very effective, starting from purchasing tickets online through the TIX ID platform, to mass management, access control and activation activities of an event. brand through the PouchNATION platform," said TIX ID Managing Director Sean Kim.

Meanwhile, PouchNATION CEO Ilya Kravtsov said, "This investment is in accordance with PouchNATION's goal to sharpen its business position, not only in the event area, but also in the business area where the event is being held. We see TIX ID which has a reach of more than 80% of the cinema business in Indonesia. as the right strategic partner for PouchNATION's vision."

TIX ID is associated with EMTEK corporate group, with 30% share ownership. Currently the company claims to have around 5 million active users. In March 2020, the platform's scope will be expanded, not only selling cinema tickets, but also tickets to various events. In addition, it will help promoters to manage the event off-air more effectively with technology.

In Indonesia, TIX ID competes directly with several companies. For example with decacorn Gojek which already has the GoTix cinema ticket booking service and the Loket event ticket sales platform. In addition there are several players like Goers who are also in the same line of business.

Funding round led by Traveloka

PouchNATION's series B funding round has been started since June 2019, at that time Traveloka opened and led the funding, supported by SPH Ventures. The investment was given after Traveloka began to focus on developing the Xperience business line, it is hoped that the NFC technology developed can support the company's position as a company "discovery platforms".

PouchNATION has handled an average of $5 million monthly transaction value from various types of events. The distribution of its products has covered the markets of Singapore, the Philippines, Indonesia, Malaysia, Vietnam and Thailand. In Indonesia, they are under the auspices of PT Easy Touch Group, which is located in Jakarta.