During the first two weeks of the pandemic, things seemed to come to a halt for Singulart. But then, everything changed. The online marketplace that showcases contemporary artists saw demand skyrocket after a total pause, resulting in an 86% growth in its business volume in March and April. This growth helped convince investors to support the start-up, a sector that had previously discouraged them. Fabrice Grinda (FJ Labs), who is part of this €10 million operation along with Ventech, F3A, and Turenne Capital, is one of them: "In the past, I failed in this area. In fact, no one has been able to find the right angle, and I was quite skeptical. But Singulart's approach has convinced me, and I think it can be replicated in hypergrowth."
Singulart was founded in 2017 and is a digital platform for emerging artists. The company has developed a unique selling proposition (USP) that sets it apart from its competitors. Instead of relying on algorithms to suggest works of art to buyers, Singulart has a team of art experts who curate works for sale on the platform. This human touch makes the buying experience more personal and engaging for art lovers.
The investors who participated in the €10 million funding round have a track record of supporting tech start-ups that are disrupting traditional industries. Ventech, for example, has a history of supporting companies that are changing the way we work, play, and live. F3A invests in companies that are transforming the retail industry, while Turenne Capital has a portfolio of companies that are leading the way in healthcare, digital marketing, and software development.
With this funding, Singulart plans to expand its operations and grow its team. The company is also exploring new markets and looking for ways to enhance the buying experience for art collectors worldwide. Singulart's success has demonstrated that there is a growing demand for digital platforms that offer unique and curated works of art. By leveraging technology and human expertise, Singulart is well-positioned to capitalize on this trend and become a leading player in the digital art market.