Funding will allow expanding the company’s ecosystem where content creators can connect, partner and shape anime IP development; company set as a Pitch Partner at upcoming Annecy MIFA event running June 9-16.
Kasagi Labo has secured US$12 million of funding for its Pre-Series A round led by Burda Principal Investments, a division of Hubert Burda Media, which provides long-term growth equity for digital technology and media companies. Founded and helmed by anime enthusiast Kendrick Wong, Kasagi Labo specializes in delivering authentic Japanese anime content to a global audience through a multifaceted approach encompassing IP licensing, distribution, and merchandising.
The investment strengthens Kasagi Labo's financial position in the anime industry and continues its progress to its total funding goal of US$20 million. Other funding contributors are CMT Digital, SuperScrypt, Hashed, Sfermion, and Gold House Foundation.
The new funding will enable Kasagi Lobo to build a global anime platform/ecosystem providing anime content creators, from IP owners to artists and voice actors, a place to connect, shape, and partner in development of anime IP. It will also provide strategic investments into IP development, aligning with industry trends driven by video-on-demand services. Kasagi Labo noted global sales and demand for anime have surpassed the Japanese domestic market for the first time, showcasing the immense potential in the international market.
The company aims to capitalize on the momentum and target the growth projected for the global anime industry. According to Kasagi Lab, industry forecasts predict a remarkable Compound Annual Growth Rate (CAGR) of 9.4%, propelling the industry from its 2022 valuation of US$25.8 billion to an estimated US$62.7 billion by 2032.2
“With a strong coalition of strategic investors, industry advisors, and an experienced management team, the company is well-positioned to spearhead innovation and set new benchmarks in the global anime landscape,” said Wong. “I eagerly anticipate our collaboration with Burda Principal Investments, recognizing their extensive global network as a catalyst for unlocking new markets and forging valuable licensing partnerships and distribution avenues for Kasagi Labo.”
“Partnering with Kasagi Labo reflects our commitment to supporting innovative and transformative businesses,” added Burda Principal Investment Principal Edwin Mak. “Anime is a fast-growing market globally that is ripe for change. Kendrick and his team have demonstrated an ability to execute effectively against a business model that we believe has the potential to transform the industry. We are incredibly excited to lead the company’s Pre-Series A round and support their long-term growth across Asia and beyond.”
Earlier this week, the Singapore-based company was also named an official Pitch Partner in the "Feature Film" category for the 2024 Mifa Pitch Prizes & Partners. Kasagi Labo will offer a 5,000 EUR grant or 10,000 EUR purchase option for the development and finance of an animation feature film at the Annecy International Animation Film Festival, taking place June 9-15.
Source: Kasagi Lobo
Debbie Diamond Sarto is news editor at Animation World Network.
