E-Commerce

$39M for you to get top-class TVs and monitors for cheap

September 21, 2022
PRISM+

Your wallet's not going to cry anymore. Meet Singapore's PRISM+! They offer top-class TVs, gaming monitors and more for low prices — and yes, they're legit. Now, they've just raised $39.4M for their latest plans!

  • Singapore, Malaysia and Australia
  • Their revenue surged 7–8x in 2020, and revenue went up 50% in 2021, when they expanded to Malaysia and Australia.

Investor check. TNB Aura led the round.

⏮ The backstory

Founded in 2017, they started by offering ultra-fast high-resolution gaming monitors for cheap. They then moved into the TV space in 2020 with Android Smart TVs.

  • At $599 SGD for a 55" TV, their TVs were less than half the cost of their competitors.
  • They also offer gaming monitor arms, TV stands and soundbars.

Now that's premium! They recently released their most premium TVs yet — 4K OLED Android Smart TVs with Dolby Atmos and their own Dolby Audio-enabled soundbars. Oh, and they've got voice control too!

  • The idea? Bring the entire cinema experience (both the sights and the sounds) home without breaking the bank!

🧠 The secret sauce?

They're focused on customer service, pricing, product quality and product features.

Their D2C strategy makes it possible. Every item is ordered directly from PRISM+'s website or one of their few new experiential retail stores.

  • While taking out middlemen (who take huge cuts, FYI) allows PRISM+ to save on costs and offer lower prices, the D2C play's more than that.

💯 All about experience

D2C also allows them to control the customer experience end-to-end. They offer deliveries as quick as the next day and focus on offering the ultimate customer experience.

  • They have customer support around the clock to help with issues and even the simplest questions.
  • What other brands do this? They'll even guide you step-by-step on understanding and using new features!

❄️ They're coming for your air conditioners

Going beyond home entertainment! Now, they're launching home appliances — starting with smart air conditioners (ACs).

  • Since their launch last month, they've installed over 100 air conditioners.
  • In true PRISM+ spirit, they handle everything end-to-end, with their technicians overseeing installation and maintenance.

🇵🇭 Watch out, Philippines!

With the new $$$, they'll be growing their product line. Oh, and they'll be expanding in SEA — and their first stop is the Philippines.

  • They'll be launching their D2C model in the Philippines by next year.
  • Offline strategy. More PRISM+ retail outlets in Singapore and Malaysia are in the works too.

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