Lisari, the startup born with the mission of revolutionizing mobile entertainment, is proud to announce the completion of a capital increase of 450 thousand Euros. The success of Karaoke One, the social app for those who love to sing developed by Lisari, made the conclusion of the first round of investments possible.
The capital increase was opened last January during the Investor Day organized by LUISS ENLABS, the startup accelerator where Lisari successfully concluded its acceleration program. The first part of the investment (193 thousand Euros) was raised in March 2016. The capital increase was concluded in less than 3 months, with the raise of 250 thousand Euros. The round has been concluded with a postmoney valuation of 1.85 million Euros.
This important result has been achieved through the success of Karaoke One, the app that allows users to record and share their singing performances in a social network that is entirely dedicated to karaoke. The app has reached almost half a million downloads in just 6 months, with users from all over the world. This was achieved just with the Windows version of the app, that is going to be published on iOS and Android in the next months.
After the conclusion of the investment round, Antonio Vecchio, CEO and co-founder of Lisari, affirms: “The results that we have had until now give us further motivation to work hard with the goal of bringing a revolution in the mobile entertainment world. The completion of the first round will allow us to publish the iOS and Android versions of Karaoke One. New features will be also added to make the app more social and innovative.”
Luigi Capello, founder of LUISS ENLABS and CEO of LVenture Group, a holding company listed on the MTA of the Italian Stock Exchange which operates in the venture capital industry, commented on the conclusion of the round: “Karaoke One is having a really rapid growth. During the acceleration phase it had already made its presence felt on the international markets, a very important factor for us as we make startups born in Italy and launch them abroad, where financial resources and valuations are significantly higher, allowing us to realize an important arbitrage. The attention of investors toward the startup has been so broad that not all of those who were interested have been able to get involved in this round of investments.”