Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Thailand tech startup ecosystem report 2019 by techsauce

6,009 views

Published on

Full report of Thai tech startup ecosystem from 2012 - 2019 by Techsauce. Cover on startups and investors activity in Thailand.

Published in: Business
  • Be the first to comment

Thailand tech startup ecosystem report 2019 by techsauce

  1. 1. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INVESTOR GUIDE THAILAND TECH STARTUP ECOSYSTEM REPORT 2019
  2. 2. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Techsauce is the leading source of all innovative tech and business news in Thailand and Southeast Asia. Our on-the-ground reporters and home field advantage make it the home of unique insights, analysis, opinion pieces and data on one of the most mature digital ecosystems in Southeast Asia. ABOUTTECHSAUCE HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Techsauce Global @techsauceth contact@techsauce.co Techsauce Thailand FOR MORE INFORMATION OR ANY INQUIRIES HTTP://TECHSAUCE.CO @TechsauceGlobal
  3. 3. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD • Introduction • Thailand Startup Ecosystem Overview • Ecosystem activity and funding movement • An In-Depth Look • Appendix • Thailand Startup Ecosystem Key Player • Fund Raising in annual 2011-2019 • Investment Fund Raised in 2012-2019 • Startup Funded Stage 2011-2019 • VC Activity in Thailand 2011-2019 CONTENTS INDEXS HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD
  4. 4. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD The report aims to reflect facts that happened inside Thailand's startup ecosystem. The information is gathered from various reliable sources such as press conferences, news updates, interviews, and so on. We do not include speculations or rumors as our references. In addition, we do not receive financial incentives from the organizations, startups, companies or individuals listed in the report. The report has been made with no intention to promote or diminish certain organizations, startups, companies, or individuals in particular. In each quarter, our team selects the information that we believe would be beneficial to our readers. We see this report as a tool to raise awareness and help educate readers about the startup ecosystem in Thailand. Since there were so many things that occurred inside Thailand’s startup ecosystem, it is possible that our team could not gather all information completely or with perfect accuracy. We apologize beforehand for such situation and please feel free to contact us in case that the readers have updated information. DISCLAIMER HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD
  5. 5. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INTRODUCTION TO THAILAND’S MARKET 66.56 M Population Not fragmented 52.00 M Internet User (75% penetration) 126 M Mobile Subscription 52 M Active Mobile Social Users (75% penetration) 65% Mobile Banking User Percentage 100% Broadband on Mobile Connection (3G-4G) Source : nbtc.go.th, stat.dopa.go.th, we are social
  6. 6. An overview of the quantity of various industries in 2018 and the key players of Thailand’s tech startup ecosystem. THAILAND STARTUP ECOSYSTEM OVERVIEW
  7. 7. AT LEAST 97.55M USD Other 20% InsureTech 3% Industrial and Manufacture 3% HealthTech 6% Enterprise Platform 3% E-Commerce Marketplace 17% Logistic 3% EdTech 6% AutoTech 6% PropTech 9% Fintech 20% FoodTech and Restaurant 6% Note: This report uses only data disclosed to the public. An Overview of Thailand’s Tech Startup Deals in 2019 (Percentage represents the number of deals made.) 2019 Thai Tech Startup Deals Other: Gaming, Service, Retail, Travel
  8. 8. AT LEAST 231.75 M US Other 20.0% InsureTech 2.5% Industrial and Manufacture 2.5% HealthTech 5.0% Energy 2.5% Enterprise Platform 2.5% E-Commerce Marketplace 15.0% Logistic 2.5% EdTech 5.0% AutoTech 5.0% PropTech 5.0% Fintech 25.0% FoodTech and Restaurant 7.5% Amount of Deals Involving Thai investors in 2019 (Percentage represents the number of deals made.) Thai Investors’ Movements in 2019 in Thailand and Overseas Note: This report uses only data disclosed to the public. Other: Gaming, Service, Retail, Travel
  9. 9. Thai investments towards Thai startups Note: This report uses only data disclosed to the public. AT LEAST 73.78M USD Other 19% Industrial and Manufacture 3% HealthTech 6% Enterprise Platform 3% E-Commerce Marketplace 16% Logistic 3% EdTech 6% AutoTech 6% PropTech 10% Fintech 19% FoodTech and Restaurant 6% Other: Gaming, Service, Retail, Travel Amount of Deals Involving Thai investors in 2019 (Percentage represents the number of deals made.)
  10. 10. AT LEAST 134.2MUSD Deep Tech 10% FoodTech 10% BioTech 10% Energy Tech 10% E-Commerce 10% Service 20% Fintech 30% Thai Investors Go Abroad Note: This report uses only data disclosed to the public. Amount of Deals Involving Thai investors in 2019 (Percentage represents the number of deals made.)
  11. 11. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Thai Investors Go Abroad 2019 Startup Name Country Industry Thai Investor Funding Round Value (USD) Aspire Singapore FinTech Beacon VC Series A 35 M USD (include all investors) Workmate Singapore Service Platform Beacon VC Series A 5.2 M USD (include all investors) Silot Singapore FinTech Krungsri Finnovate Series A 8 M USD (include all investors) Validus Singapore FinTech Addventures by SCG Fuchsia Venture Capital Series B 25 M USD (include all investors) Gojek Indonesia Service Platform SCB Series F Undisclosed Geltor United State BioTech Bangchak Initiative and Innovation Center (BiiC) Corporate Round Undisclosed Enevate United State EnergyTech Bangchak Initiative and Innovation Center (BiiC) Undisclosed Undisclosed Flying spark Israel FoodTech Thai Union Corporate Round Undisclosed Industries in foreign ecosystems targeted by Thai investors
  12. 12. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Thai Investors Go Abroad 2019 Startup Name Country Industry Thai Investor Funding Round Value (USD) Sendo Vietnam E-Commerce Kasikornbank Series C 61 M USD (include all investors) OxygenAI Singapore Deep Tech BlueBik Seed Undisclosed Industries in foreign ecosystems targeted by Thai investors
  13. 13. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD • There was an economic slowdown in 2019. Everyone within the business community faced many challenges. • Various issues within the global economy, in particular the trade war between China and the United States caused startups and Chinese investors to take on the wait-and-watch position. This has impacted the region. • In 2019, Thailand held elections to elect a new government. No big moves were made by large businesses because everyone was waiting to see how the political situation would turn out. We expect clearer movements or actions at the beginning of 2020. • Industries that were impacted by the economic situation in 2019 were the real estate, tourism, and food and beverage sectors. All three suffered from a drop in purchasing power both within the country and overseas. Techsauce Comments on Thailand Startup Ecosystem Overview
  14. 14. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD • Despite the new government releasing measures to counter the risks brought on by the global economic situation, they were only short term stimulus measures that did not provide real assistance to businesses. • Thailand is a main market of unicorns within the Asian region, especially in the fields of service and e-commerce. • Most Thai startups that raised funds in 2019 had good business fundamentals, something that cannot be overlooked by startup founders. • Startups that were able to grow or increase their profits were quite interesting as their success reflected on the strong business fundamentals and strategies that founders had during a time of crisis. Techsauce Comments on Thailand Startup Ecosystem Overview
  15. 15. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Challenge for 2020 • Foreign companies will be doing more business in Thailand. With the right strategies, businesses can benefit from such investment. • The struggles faced in 2019 will continue in 2020 so it is important for the business organizations, the government, and agencies to work together. The challenge will be managing the potential friction that could occur from such cooperation. Techsauce Comments on Thailand Startup Ecosystem Overview
  16. 16. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Opportunities for the Thai Startup Ecosystem in 2020 • Thailand will have more opportunities if it is able to pinpoint its true strengths. There is still room within the value chain of the global market that Thai businesses can fit into. Thailand does not necessarily need to become Silicon Valley in order to create innovation. • Thai startups have the opportunity to expand their businesses into Malaysia and the Philippines because they are new markets. As for Indonesia, Vietnam, and Singapore, they are markets best for mature startups as there is high competition. Techsauce Comments on Thailand Startup Ecosystem Overview
  17. 17. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Expected Events for 2020 • Potential recession may lead to layoffs. More talented people will set up their own startups or move to a new company. Wages will lower within the labor market. • There may be more new VCs to support startups at the Seed or Pre-Seed levels. • The venture builder program is a way for Thai corporations to incubate startups and find out new innovation in 2020. However, it is hard for the community to discover new startups due to accelerators dropping in numbers and venture builders focusing more on developing internal startups. Techsauce Comments on Thailand Startup Ecosystem Overview
  18. 18. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Advice from Techsauce Co-Founders • We still want a space where we can meet startups that are just starting out. This should be in the form of a structured program where you can reach a large number of startups, similar to what has been happening in the past 1-2 years. Techsauce Comments on Thailand Startup Ecosystem Overview
  19. 19. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Advice for Startups • Thai startups should have strong professional back-end operations in areas such as knowledge of legal documentation and accounting, which is important to both Thai and foreign investors. This is just as important as profits and the structure of the business. • Mature startups in some industries are ready to scale to overseas markets. As for other startups, they need to really look at their operations and make sure they can build a revenue stream. • In 2020 startups need to be able to make profit and not rely on just raising funds. • Startups no longer need to have rapid growth. Instead, they need to have continued growth. • The investor that is right for us, will come to us if we are interesting enough. Techsauce Comments on Thailand Startup Ecosystem Overview
  20. 20. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Advice for Investors • Investment for a positive impact, whether it be on society or industry, will attract more ideal talent to contribute to the ecosystem. • Investors should invest to take startups to the next level. This is beneficial to investors who will gain from a profitable exit and the industry which will see further growth. • Even though there has been a global economic slowdown, Thailand’s market capitalization continues to be quite large. There are still some sectors that are interesting because they still have potential for growth. So it is a great opportunity for investors to come survey and invest in Thailand in 2020. • Thailand remains to have many startups that can be considered “hidden gems”. It is common for these startups to not be interested in being at the center of media attention or joining accelerators. Having investors being a part of the community will help increase the chances of investors meeting up with these startups. Techsauce Comments on Thailand Startup Ecosystem Overview
  21. 21. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Thailand Startup Ecosystem Overview • Like other parts of the economy, Thai startups found 2019 to be quite challenging.  Although there was growth, it was at a slow rate. However looking at the brighter side, the growth was significant compared to 2018 with a total of 35 deals made, valued at US$97.55 altogether. • There have been several major startup funding rounds (Pomelo raised US$52 million during its Series C funding round), signalling that Thailand is ready to support the growth of startups. • Funding rounds continued to develop, especially for seed funding to Series A and Series A to Series B.  The average amount of funds raised was higher compared to the previous year.   • “Quality” was a challenging issue for new startups, but there is room for the ecosystem to improve this issue. • There was an increase in the number of startups founded by former corporate employees and new SME generation owners.  Former corporate employees have expertise in their industries, while the new generation of SME owners have strong business management skills. 
  22. 22. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Thailand Startup Ecosystem Overview • Startups in the growth stage paid less attention to fundraising and shifted their focus on creating a profit for their businesses in order to decrease the risks from the global economic slowdown to ensure stable growth.  • The WeWork phenomenon has affected the overall trust in the startup ecosystem. However, it has encouraged stakeholders to be more realistic in various aspects -- from the amount of money raised through fundraising, business valuation, to the profits to be made from startups. • Many Thai startups have chosen to register their companies and establish their headquarters overseas due to conditions set by regional investors, while certain industries are not ready to support the technology to drive businesses. • Advantages found in Thailand are supportive regulations and measures to drive the digital economy, as well as laws relating to digital assets and awareness of the privacy act. However, existing laws relating to business operations continue to be obstacles to the development of startups in Thailand.  Examples of laws deterring foreign investors from coming into Thailand are those pertaining to equity shares or capital gain taxes.
  23. 23. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Thailand Startup Ecosystem Overview • Thailand’s startup ecosystem and community are considered women- and LGBT-friendly, as the country boasts a higher number of female executives compared to other countries in the region and in western nations. • In 2019, CVCs were still major players for business investment in Thailand. 
  24. 24. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Deep Technology • The Deep Technology market in Thailand is still considered to be in its early stages, especially for artificial technology. Foreign customers are much more willing to pay for artificial technology compared to Thai companies. Meanwhile, Thai startups focusing on AI has a chance to enter international markets. Similarly, the blockchain industry is also in its early stages like in other places in the world.   • Highly advanced technology such as quantum computing and augmented reality has an opportunity for growth in Thailand, however, most companies are likely to remain unsure about business potential relating to these technologies until real use cases have been established. • AI and blockchain are technologies that Thai companies are trying to implement, and this will open up new opportunities for organizations to work with Thai startups who are developing solutions from these technologies. • Big data will become the norm in the tech industry in Thailand as well as in other sectors that have adopted this technology.
  25. 25. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Food Technology • The food technology industry will have ample opportunities as Thailand has a large supply chain in the food industry with a sizeable market that can be value-added in many aspects. • There are two dimensions in which businesses can benefit from the food industry: manufacturing quality ingredients and adding creativity to the cooking process. • In the short-term, we should encourage Thai startups to enter the market in order to increase the movement in the food industry while promoting the adoption of technology in the industry • In the long-term, the food industry will be competing with its know-how, from food knowledge, creativity, to efficient management systems.
  26. 26. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Agriculture Technology • Agriculture technology is potentially the area where Thailand has the most advantages as the country is a global hub of agriculture. However, the development of agriculture technology in the nation has not been as rapid as anticipated as the sector lacks support and real business opportunities. • There are a large number of researchers and university-level professors with insight on the local area who have conducted research to address existing issues. • However, we lack the support to adapt the knowledge and capabilities of these experts into real business opportunities. There is also a lack of partnerships that will encourage growth in this sector.
  27. 27. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Healthcare Technology • Investors and private hospitals in Thailand are highly proactive in using healthcare technology and have demonstrated the demand to use this technology through adoptions and partnerships. • There are numerous healthcare startups in Thailand that have developed their own solutions and business models. Though they may not be directly aligned with any private hospitals, there are ample partnership opportunities. Retail • The retail industry has experienced more online to offline shifts as well as higher adoption of retail tech and fintech. • Technological infrastructure that exists today will be ready to support digital retail within the next two years with solutions such as smart pricetages, unmanned stores, and cashierless stores. • Thai startups still has the opportunity to develop solutions for the country’s retail industry.
  28. 28. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 E-Commerce • Major international players have dominated the mass market in terms of e-commerce and will continue to do so with their funds until they have successfully converted the behavior of consumers. • Thailand is currently a battleground between players from China and the US. However, these two giants have different ways of using technology. While China is focused on shopping entertainment -- a method that combines entertainment to encourage users to log on the platform longer and more often -- the US would rely on user data with AI technology to predict the interests of users in order to generate more sales.  • There is still an opportunity in niche markets. • Thai e-commerce platforms still has a chance to serve as the connector between Thai businesses and international platforms.
  29. 29. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Manufacture and Supply Chain • Thailand is a major manufacturing hub, thus, there is a large number of factories in the country as well as numerous experts. We have seen more Thai startups developing solutions to cater to factories, with the opportunity for domestic and international growth. • Globally, companies that have led the software operation market are shifting to the Software as a Service distribution model, however, the shift is occuring slowly as these companies are massive. Meanwhile, software from large companies are highly expensive as buyers need to pay for the entire solution, which are not suitable for small- or medium-sized factories. Thus, there is a gap in the market for startups.  • In the future, factories will probably use the Factory as a Service model, meaning that goods are made to order, in customized form, and at desired times, therefore, the method of factory management will have to change and manufacturers will rely more on technology in order to serve customers in the future.
  30. 30. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2019-2020 Financial Technology • Thai banks have been moving quickly and now offers almost all basic services using financial technology. • Many companies in Thailand offer cross-border financial services, however, none has dominated this market. • Financial services for B2B are being quickly developed, with more applications and digital services for enterprises being introduced to the market. • Payment gateways are still competitive. • There will still be e-wallets, and this service will become stronger once the national e-payment system is established. Then, e-wallets will evolve to become a financial service that relies on existing data. • There are a lot of opportunities for startups in the areas of wealth management, financial & insurance product platforms, and service for the underbank. Startups should also offer services directly to consumers and seek partnerships with financial institutions that have their own customer base.
  31. 31. ECOSYSTEM ACTIVITY AND FUNDING MOVEMENT Activities within the ecosystem that include funding deals, VC & CVC activities such as accelerators.
  32. 32. 0.00 10.00 20.00 30.00 40.00 US$0M US$30M US$60M US$90M US$120M 2011 2012 2013 2014 2015 2016 2017 2018 2019 VALUE (M USD) DEAL 3535 3131 2726 14 21 97.55 61.25 106.10 78.17 36.30 42.72 9.73 3.101.001.00 3.10 9.73 42.72 36.30 78.17 106.10 61.25 97.55 Estimate value 2011-2019 is 434.918M USD Overview of Thai Startup Funding from 2011-2019: Deal’s Volumn and Value Note: This report uses only data disclosed to the public.
  33. 33. The Thailand Tech Startup Funding Movement in 2019 Recommend Deal in 2019 52 M Series C 11 M Series A 10 M Series C Note: This report uses only data disclosed to the public. (Percentage represents the number of deals made.) AT LEAST 97.55M USD Other 20% InsureTech 3% Industrial and Manufacture 3% HealthTech 6% Enterprise Platform 3% E-Commerce Marketplace 17% Logistic 3% EdTech 6% AutoTech 6% PropTech 9% Fintech 20% FoodTech and Restaurant 6% Other: Gaming, Service, Retail, Travel
  34. 34. US$0M US$30M US$60M US$90M US$120M 2011-2012 2013 2014 2015 2016 2017 2018 2019 END OF 2019 0.00 3.10 9.73 42.72 31.30 78.02 105.55 61.25 97.55 VALUE (M USD) 1 M 1 M 2 M 3.1 M 2 M 7 M 10.7 M 10 M 17.5 M 16 M 15 M Recommend Startup Deals from 2011-2019 2.6 M 5.7 M 7 M 25 M ICO 65 M 19 M Note: This report uses only data disclosed to the public. 20 M 10 M 7 M 52 M 10 M 11 M
  35. 35. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Techsauce Comments on Ecosystem Activities and Funding Movement • Foreign investors will continue to consider investing in Thailand. Most Thai investors will be CVCs that will focus on strategic investment. • Investors will start to restructure their business models and seek cooperation from various players. For example venture builders will be based on in-depth work and focused on driving startups. • The development of blockchain technology along with the approval of new regulations that involve digital assets may result in a platform that is an alternative source of funding for startups.
  36. 36. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement Investment Overview and Funding Activity • Startups that have grown already, continue to raise funding. Thai startups at the Series A level are more ready to raise funding to reach the Series B level. • Thailand has Series C startups that have already set up large headquarters in Thailand and more are expected to do so in 2020. • Thai corporations continue to play an important role in investing in startups at the growth stages, both in the form of fund-of-fund (FOF) and direct investment. Meanwhile traditional Venture Capital firm continue to play an important role in supporting startups at the pre-seed to Series A levels.
  37. 37. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement Investors (1) • There is still venture capital in Thailand, but most of it is concentrated at the growth stage. • Corporate venture capital (CVC) is still the big player in Thailand. In 2019 various industries had set up CVCs. More are expected in 2020. • Even though CVCs make up the majority of the investment in the ecosystem, many organizations do not rely on CVCs to drive innovation. CVCs are just one part of the strategy to develop innovation within an organization. Another role that CVCs play in some organizations is making profitable investments. Therefore there is more investment made with startups in the growth stage, where there are more chances of making profit and strategic partnerships. • CVCs still continue to search for strategic partners in various industries.
  38. 38. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement Investors (2) • Angel investors are making less investments towards startups due to slow global economic growth. This in turn has made an impact on pre-seed level startups that are just starting out. • Regional VCs have to compare Thai startups to others in the region. In many cases startups overseas have more chances of getting investment because they have advantages such as a bigger population, a bigger market, and a specific problem to be solved. So regional VCs tend to invest in startups outside Thailand before coming to the kingdom. • Global and regional investors still have interest in Thailand. This is reflected in the hiring of Thais to analyze the market and foreigners making trips to survey the country.
  39. 39. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement Investors (3) • An example of such mature leadership is the founder of the 1st Wave group (at present it has raised funds at Series B and above). At the same time the new generation of founders are able to grow more, given their professionalism and their ability to create solutions that align with creating profit, whether it is business within or outside the country. • Other countries within the region such as Vietnam and Indonesia have regulatory risk. However these countries are able to lower the regularity risk by having various channels of support. This has lowered the risk to a level that is acceptable to international investors.
  40. 40. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement The status of exits made in Thailand (1) • Various VC funds are able to make exits with Thai startups. Returns are at an level that VCs are satisfied with. • Overall Thai startups have high valuations. Therefore exiting via M&A is not common. Even if there is a deal, it would not be a large one because startups are usually taken over when they are at the very early stages. • There are opportunities for IPOs in Thailand, but they are at the early stages. Departments such as the Stock Exchange of Thailand (SET) have shown interest in this issue and have started a platform to support startups in the early stages and for their entry into the Market for Alternative Investment (MAI) exchange. •
  41. 41. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on Ecosystem Activities and Funding Movement The status of exits made in Thailand (2) • However raising funds in the market is not an easy task because the SET requires companies to correctly manage their finances with transparency. Startups that were unable to set up an infrastructure maturely from the beginning will not be given the permission to enter the market by the SET. It is important to change this mindset and it is vital for the growth of startups through IPOs.
  42. 42. AN IN-DEPTH LOOK An in-depth look at funding stages such as joint ventures, mergers, and acquisitions of tech companies.
  43. 43. Merge and Acquired 3% Undisclosed 6% Venture Round 3% Series C 6% Series B 6% Series A 14% Seed 64% HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD THAI STARTUP FUNDING STAGE IN 2019 Note: This report uses only data disclosed to the public.
  44. 44. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD TECH-BASED JOINT VENTURES IN THAILAND Joint Ventures Company Year Rabbit Line Pay mPay, Bangkok Smartcard System Company Limited (Rabbit), LINE 2018 Kakisorn LINE Company KBANK, LINE 2018 JD Central JD.com, Central Group 2018
  45. 45. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Mergers and Acquisitions of Thai Tech Companies Company Founded Industry Value (in US dollar) Year of Acquisition Acquirer Country of Acquirer 2004 Online Payment Provider - 2008 - dtac 2017 - Omise Thailand 1998 Web Portal 10.5M 1999 - Mweb 2010 - Tencent China 2000 Software undisclosed 2007 American 2005 Online Hotel Booking undisclosed 2007 American 2009 Daily Deal Site undisclosed 2011 American 2010 Social Monitoring Tool undisclosed 2011 American 1994 E-commerce undisclosed 2012 Thailand
  46. 46. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Company Founded Industry Value (in US dollar) Year of Acquisition Acquirer Country of Acquirer 2007 Real Estate Portal 23 M 2011 Singapore 2006 E-commerce undisclosed 2011 Malaysia 2008 E-Books undisclosed 2014 Thailand 2005 car site 14.4M 2014 Malaysia 2003 Online Payment Gateway undisclosed 2014 Thailand 2012 marketplace undisclosed 2015 (merge) Thailand 2010 Real Estate Portal 6M 2015 Malaysia Mergers and Acquisitions of Thai Tech Companies
  47. 47. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Company Founded Industry Value (in US dollar) Year of Acquisition Acquirer Country of Acquirer 2013 E-Commerce undisclosed 2015 Indonesia 2009 Social Media Analytics undisclosed 2015 South Korea 2013 Insurance undisclosed 2015 Thailand 2014 Social Media undisclosed 2016 Thailand 2013 Dating undisclosed 2016 Australia - Social Media* Analytics undisclosed* 2016* Thailand 1998 Internet and Design Institute 28.68M 2016 Japan Mergers and Acquisitions of Thai Tech Companies *Rebrand to be WISESIGHT in year 2018
  48. 48. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Company Founded Industry Value (in US dollar) Year of Acquisition Acquirer Country of Acquirer - Social Media undisclosed 2017 South Korea 2001 Ecommerce** undisclosed** 2018** Thailand Ecommerce undisclosed 2018 South Korea Ecommerce/Finance undisclosed 2019 Singapore Mergers and Acquisitions of Thai Tech Companies ** Acquired by Rakuten in 2009 and bought back by Tarad in 2016
  49. 49. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Techsauce Comments on An In-Depth Look Community and Talent • The Thai startup community has come back to talking more about the fundamentals of doing business so that there is a foundation that is strong enough to support growth. • Founders that were part of the first wave, who have been both mentors and role models had to work hard in 2019 to keep their businesses afloat. This is why their contribution to the ecosystem will be less than prior years. Despite this, they will continue to make an impact. • We need more mentors that clearly have experience and are good role models to new upcoming startups. • Venture builders will be the platforms to answer the needs of talent that want to fully utilize their capabilities to fully grow their businesses in an environment where risks are lower than if they were to be on their own. This could be due to personal reasons such as talent having the responsibility of taking care of their families.
  50. 50. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Techsauce Comments on An In-Depth Look Regulator and Government • We want to see “matching funds” for startups where the private sector and the government both provide investments in order to have the right amount of funding. • The public sector can support Thai startups to increase their capabilities to compete in various aspects, especially in providing equal opportunity in the market. Thai startups should have equal opportunities to compete with foreign businesses in the fields of ride-hailing, food delivery, and e-commerce. We need more mentors that clearly have experience and are good role models to new upcoming startups.
  51. 51. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on An In-Depth Look Corporate Culture • Thai society is starting to get familiar with the startup working culture. Overall the workplace is improving. • Corporate culture for startups still rely on using various tools to manage their work to reach their goals, but they need to keep evolving to adapt to the size of the organization and the individual characteristics of the company. • The basics of the startup working culture and the tools used by startups are being adopted by corporations more, especially if changes made boost efficiency. • Talent is still a priority for organizations. The high competition for good talent acquisition forces companies to make changes. • At the end of the day, the collaborate between startups and Thai corporates is still weak. Corporates still lack flexibility. Even if there are CVCs, there still needs to be more changes made to support strategic partnerships.
  52. 52. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on An In-Depth Look The situation for founders and talent • The founders of growth stage startups are very mature, especially those who founded the ecosystem at the beginning and helped build it to what it is today. • The new generation of startups is still needed in the ecosystem, but at present it is very hard for startups at the seed and the pre-seed levels to gain investment. There needs to be more support for this group. • The new generation of startups are made up of young talent or the younger generation of already established SMEs. This group has passion, but need more experience and skills. • Those with experience have still not entered the startup scene. We need this group to create an impact in terms of performance and credibility. • There is still a lack of tech talent because the base salary for this group is too high for startups. Thai laws do not support the giving of other forms of benefit for talent, such as employee stock option (ESOP). • Workforce that can work well and right away is in demand for all positions.
  53. 53. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on An In-Depth Look The government • The government continues to be a supporter of the startup ecosystem. Overall the government has made itself a platform for various areas. Every department aims to develop itself. The Thai Government has provided a good structure for the ecosystem. • The public sector can support startups in two ways. They can reduce regulatory risks by amending laws and launching programs for areas that need support from the government. They can also use startup products and services. • In terms of incubating innovation, there is no country in the world that produces regulations before there is innovation. The government should perhaps let go of some areas that do not pose much risk so that there is space for growth. • Producing or amending some laws will bring about equal competition for Thai businesses. It will help Thais have the opportunity to do things that foreigners are already able to do. It will bring about options for Thais and the government. The legalization of ride-hailing or online services will open up the doors for Thais to develop these platforms for the country.
  54. 54. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on An In-Depth Look Community • A community refers to a group of people that has gathered in the startup ecosystem to demonstrate qualitative movements and offer appropriate official and unofficial support to others.  • In 2019, Thailand’s community has grown stronger and more diversed, as it has been successful in attracting new talent to build the startup community. • Thailand still lacks a strong incubation system for founders and lacks mentors who can help create the right mindset for founders.
  55. 55. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Contributor Comments on An In-Depth Look Social Enterprise • Today, social enterprises (SE) or startups that develop solutions to address social issues are more recognized and has more engagement in the startup ecosystem in Thailand. • SEs should find a balance between creating business and social impact: they should aim to address social issues and generate enough profit to be self-sufficient. If SEs cannot make a profit and shifts to becoming a CSR-driven organization, SEs will lack the freedom to pursue their own goals. • In the future, the dividing line between SEs and startups will become more blurred, as SEs will possess more business management skills and become more stable, while activities to promote startups can also be adapted to SEs. • On a global level, there are very few SEs that has reached maturity, thus, there is a lack of awareness about this topic. In the future, if more SEs reach maturity in the aspects of social responsibility and profit, there will be more new talents in this field.
  56. 56. APPENDIX: ECOSYSTEM KEYPLAYER
  57. 57. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD THAI TECH STARTUP ECOSYSTEM Government
  58. 58. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Incubators /Accelerators THAI TECH STARTUP ECOSYSTEM (Active) (Active)(Active) (Active) (Active) (Active) (Active) (Active)
  59. 59. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Event THAI TECH STARTUP ECOSYSTEM
  60. 60. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Tech Media THAI TECH STARTUP ECOSYSTEM AssociationEducation and Mentor Venture Builder
  61. 61. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investors (VC, Angel Group) THAI TECH STARTUP ECOSYSTEM
  62. 62. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Name Position Company Industry Aliza Napartivaumnuay Co-founder SocialGiver Retail Anchana Vallipakorn CEO Baania PropTech Apinara Srikarnchana Co-founder U drink I Drive Transportation Apiradee Sirisomboon CEO Happenn Event Chuencheewan Wongsaeree CEO Globish EdTech Dalad Tantiprasongchai CEO FABbrigade Beauty/ Wellness Darin Suthapong CEO Indie Dish Food Kanpassorn Suriyasangpetch CEO Ooca HealthTech THAI TECH STARTUP ECOSYSTEM Women in Tech
  63. 63. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Name Position Company Industry Kesara Roemcharoen COO Somjai PropTech Lalin Ananbanchachai COO EXZY Digital Content Nattanich Thongkraisaen CEO Eventbanana Marketplace Nattaporn Suchartkullawit CMO DooTV Digital Content Nattida Sanguansin MD Buzzebees Reward Netita Taechathanasiri Kesara Roemcharoen Phruthiphon Khoosuwan Pharcharaphan Anapreechakum CEO, COO, CMO,CTO Somjai PropTech Ponglada Paniangwet CEO Freshket Marketplace THAI TECH STARTUP ECOSYSTEM Women in Tech
  64. 64. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Name Position Company Industry Pornthip Kongchun COO Jitta FinTech Sakunee Niranvichaiya CEO Chiiwii HealthTech Shannon Kalayanamitr former Orami Group's CMO Current: Venture Partner of Gobi Orami Ecommerce Sirasom Borisutsuwan CEO U drink I Drive Transportation Suchada Taechotirote CEO FavStay Travel Supichaya Surapunthu CEO Piggipo FinTech Suvita Charanwong CEO Tellscore MarTech Thanwarat Chailert COO Chomchob Reward THAI TECH STARTUP ECOSYSTEM Women in Tech
  65. 65. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Name Position Company Industry Thanyatorn Thitiseranee COO DriveMate Car Sharing Thiraya Thiranakanat CEO CareerVisa EdTech Thisana Thitisakdiskul CEO Noburo FinTech Thitinart Nganwongpanich CEO Wear and Share Fashion Wachira Kimhasawad COO OneStockHome PropTech THAI TECH STARTUP ECOSYSTEM Women in Tech
  66. 66. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD THAI TECH STARTUP ECOSYSTEM Angel Investor Chualapayap Srikarnchana Andre Hoffmann Andre Vranjes Chang Ng Chintaka Ranatunga Eduardo Saverin Hirokazu MashitaChatchaval Jiaravanon Ittipat Peeradechapan Jakob Lykkegaard Jonathan Price Khailee Ng
  67. 67. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD THAI TECH STARTUP ECOSYSTEM Angel Investor ken Sakakibara Khailee Ng Kris Nalumlien Mike Prasad Natavudh Pungcharoenpong Paul Pattarapon Piyaphan Wongyara F Pawoot Pongvitayapanu Koh Boon Hwee Samer Karum Ravi Agarwal Sommaphat Traisorat
  68. 68. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD THAI TECH STARTUP ECOSYSTEM Angel Investor Songphon Chaovanayothin Supachai Kanjanasakchai Sven Ernst Takeshi Ebihara Tommy Chia Tiwa York Toivo Annus Vinnie Lauria William E Heincke Watchara Kaewsawang Worawoot Ounjai
  69. 69. APPENDIX: FUND RAISING IN ANNUAL 2011-2019
  70. 70. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2011,2012 Startup Industry Amount Fintech 1M USD Digital Content 2M USD Crowdfunding 104K USD AT LEAST $3.104 M
  71. 71. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2013 Startup Industry Amount E-COMMERCE 628K USD E-COMMERCE 600K USD E-COMMERCE Under 1M USD E-logistics 3.1M USD Crowdfunding 400K USD Social Media Analytics 1M USD E-logistics 160K USD Crowdfunding 335K USD AT LEAST $9.733 M
  72. 72. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2013 Startup Industry Amount Insurance Undisclosed Recruitment 100K USD Construction 400K USD B2B Platform 350K USD (Mar: $150k, Nov $200 Hotel 1.16M USD Food and Restaurant 500K USD AT LEAST $9.733 M
  73. 73. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2014 Startup Industry Amount Food and Restaurant Undisclosed Gaming 500K USD Gaming 300K USD Gaming Undisclosed Payment 300K USD Payment 2M USD Hardware 112K USD EdTech 620K USD AT LEAST $42.716 M
  74. 74. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2014 Startup Industry Amount Digital Content 7M USD Insurance Undisclosed Travel 10M USD FinTech 70K USD FinTech 20K USD B2B Platform 1M USD B2B Platform 770K USD Hotel 620K USD Hotel 4.5M USD AT LEAST $42.716 M
  75. 75. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2014 Startup Industry Amount Payment 10.7M USD Payment 20K USD E-commerce/Marketplace 1.6M USD E-commerce/Marketplace 1.5M USD E-commerce/Marketplace 640K USD (Jun: 220K, Jul: 100K, Aug: 320K) E-commerce/Marketplace 529K USD (Mar: $109K + Dec: $420k) E-commerce/Marketplace 25K USD E-commerce/Marketplace 15K USD Messaging Undisclosed AT LEAST $42.716 M
  76. 76. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2015 Startup Industry Amount Payment 2.6M USD +Undisclosed Payment 20K USD E-commerce/Marketplace 670K USD E-commerce/Marketplace Undisclosed E-commerce/Marketplace 300K USD E-commerce/Marketplace Undisclosed E-commerce/Marketplace Undisclosed E-commerce/Marketplace Undisclosed B2B Platform 5.7M USD AT LEAST $36.295 M
  77. 77. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2015 Startup Industry Amount B2B Platform 1.8M USD FinTech Undisclosed FinTech Undisclosed FinTech Undisclosed Insurance 2M USD Recruitment 125K USD Game 5M USD Game 750K USD Travel Undisclosed AT LEAST $36.295 M
  78. 78. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2015 Startup Industry Amount Food and Restaurant Undisclosed Hardware Undisclosed Loyalty Undisclosed Real Estate 350K USD EdTech Undisclosed E-logistics 5M USD E-logistics Undisclosed E-logistics Undisclosed E-logistics Undisclosed Loyalty/Reward 5M USD AT LEAST $36.295 M
  79. 79. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2016 Startup Industry Amount E-commerce/Marketplace 15M USD HQ is in IND E-commerce/Marketplace 11M USD E-commerce/Marketplace Undisclosed Series-B E-commerce/Marketplace Undisclosed E-commerce/Marketplace Undisclosed E-commerce/Marketplace 500K USD E-commerce/Marketplace 300K USD E-commerce/Marketplace Undisclosed E-commerce/Marketplace Undisclosed AT LEAST $78.17 M
  80. 80. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2016 Startup Industry Amount Food and Restaurant Series-B Food and Restaurant Series-B Food and Restaurant Undisclosed FinTech Undisclosed FinTech Undisclosed Payment Pre-Series A Payment 17.5M USD Ticket system Undisclosed (VN) Ticket system 500K USD AT LEAST $78.17 M
  81. 81. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Startup Industry Amount Digital Content 19M USD MedTech 2.5M USD Logistic 10M USD Logistic Undisclosed MarTech Undisclosed (Social nation) Reward 300K USD HealthTech Undisclosed EdTech 500K USD FUNDING RAISED IN 2016 AT LEAST $78.17 M
  82. 82. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2017 Startup Industry Amount Payment 25M USD in ICO & series B Payment Series A Payment Series A FinTech 3.2M USD FinTech 1.5M USD FinTech 1.15M USD E-commerce/Marketplace 19M USD E-commerce/Marketplace Undisclosed Seed E-commerce/Marketplace Undisclosed Seed AT LEAST $106.1 M (*excl ICO)
  83. 83. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2017 Startup Industry Amount E-commerce/Marketplace Undisclosed Seed E-commerce/Marketplace Undisclosed Seed Logistic 65M USD Logistic 1.65M USD Hotel/Travel 1.5M USD Hotel/Travel Undisclosed Seed Hotel/Travel Undisclosed Seed Reward Undisclosed Seed Food&Restaurant Undisclosed Seed AT LEAST $106.1 M (*excl ICO)
  84. 84. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2017 Startup Industry Amount Food&Restaurant Undisclosed Seed Food&Restaurant Undisclosed Seed AgriTech Undisclosed Seed HealthTech Undisclosed Seed Crowdfunction Undisclosed Seed Retail 150K USD MarTech 7.4M USD Series A Recruitment Undisclosed Series A Recruitment 3.6M USD AT LEAST $106.1 M (*excl ICO)
  85. 85. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2017 Startup Industry Amount EdTech Undisclosed Ticket Undisclosed PropTech Undisclosed Seed PropTech 300K USD Car Sharing Undisclosed Seed AT LEAST $106.1 M (*excl ICO)
  86. 86. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2018 Startup Industry Amount Enterprise Platform 20M USD Enterprise Platform Undisclosed Food / Bio and Restaurant 10M USD Pre-Series C Food / Bio and Restaurant 1M USD Food / Bio and Restaurant Undisclosed Food / Bio and Restaurant Undisclosed Food / Bio and Restaurant Undisclosed Online Printing 7.7M USD Series A Insurance 7M USD AT LEAST $61.25 M (*excl ICO)
  87. 87. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2018 Startup Industry Amount Travel 3M USD Series A Travel Undisclosed MarTech 3M USD Series A MarTech Undisclosed AgriTech 1.85M USD Seed Loyalty/Reward 1.6M USD Series A Loyalty/Reward Undisclosed Seed FinTech 300K USD Seed FinTech Undisclosed Seed AT LEAST $61.25 M (*excl ICO)
  88. 88. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2018 Startup Industry Amount Fintech Undisclosed Series-A Digital Content ICO Digital Content Undisclosed Pre-Series C Digital Content Undisclosed Seed PropTech 400K USD Seed PropTech Undisclosed PropTech Undisclosed Construction Undisclosed Pre-Series B Recruitment Undisclosed AT LEAST $61.25 M (*excl ICO)
  89. 89. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2018 Startup Industry Amount Retail Undisclosed E-commerce / Marketplace 4.8M USD SeriesA E-commerce / Marketplace Undisclosed SeriesA E-commerce / Marketplace 0.6 M USD Pre-Series A E-commerce / Marketplace Undisclosed Seed Gaming Undisclosed Seed Drone & Robotic Undisclosed Professional Service Undisclosed Seed PropTech Undisclosed SeriesA AT LEAST $61.25 M (*excl ICO)
  90. 90. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2019 Startup Industry Amount E-Commerce 10 M USD Series C PropTech 3.3 M USD Series B Fintech 2.1 M USD Seed Fintech 1.67 M USD Pre-Series A Travel Tech Undisclosed Pre-Series A Loyalty/ Reward Undisclosed Series A+ E-Commerce Undisclosed Pre-Series A Fintech Undisclosed Seed Healthcare 400 K USD Seed AT LEAST $97.55 M
  91. 91. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2019 Startup Industry Amount Sharing Platform 2.2 M USD Series A Enterprise Solution 1.3 M USD Series B Logistic Undisclosed Seed EdTech 900 K USD Property Tech Undisclosed Seed Lifestyle/ Service / FoodTech 450 K USD Seed Gaming Undisclosed Seed Professional Service/ AutoTech Undisclosed Seed Fintech 6.5 M USD Pre-Series A AT LEAST $97.55 M
  92. 92. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2019 Startup Industry Amount Food Tech / Deep Tech 1.2 M USD Pre-Series A Healthcare Undisclosed Series A Retail Undisclosed Fintech Undisclosed Venture Round EdTech Undisclosed Seed FinTech 300 K USD Seed Fashion / Marketplace / E-commerce 52 M USD Series C Lifestyle / Service 2.8 M USD Series A Marketplace 330 K USD Seed AT LEAST $97.55 M
  93. 93. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD FUNDING RAISED IN 2019 Startup Industry Amount InsureTech 11 M USD Series A Industrial Tech Undisclosed Pre-Series A Fintech 1.1 M USD Seed Marketplace Undisclosed Seed Marketplace Undisclosed Seed Fashion/E-Commerce Undisclosed Seed PropTech Undisclosed Seed Automotive Tech Undisclosed Pre-Series A AT LEAST $97.55 M
  94. 94. APPENDIX: BRIDGE FINANCING IN 2019
  95. 95. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD BRIDGE FINANCING ACTIVITY Fund 2019 Total deal Fund Valuation Portfolio companies depa Digital Startup Growth Stage Fund 15 15 2.38 M USD Arincare, JuiceInnov8, Globish, Kiddeepass, Beyond Training, Refinn, AVA, Noburo, Drivemate, Haup, iTax, ClassCafe, Fixzy, Hybrid superaerator, CloudCommerce
  96. 96. APPENDIX: INVESTMENT FUNDS RAISED IN 2012-2019
  97. 97. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INVESTMENT FUNDS RAISED IN 2012-2019 (Pt.1) AT LEAST $ 444.91 M Investor Amount Year 7 M USD 2012 (Annually to 2019) Undisclosed 2012 Undisclosed 2012 25 M USD 2013 Undisclosed 2013 Undisclosed 2013 12.7 M USD 2014 Undisclosed 2014 Undisclosed 2014
  98. 98. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INVESTMENT FUNDS RAISED IN 2012-2019 (Pt.2) AT LEAST $ 444.91 M Investor Amount Year 10 M USD 2015 9.3 M USD 2015 10 M USD 2015 50 M USD 2016 14.65 M USD 2016 (Annually to 2019) Undisclosed 2016 45 M USD 2017 Undisclosed 2017 Undisclosed 2017
  99. 99. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INVESTMENT FUNDS RAISED IN 2012-2019 (Pt.3) AT LEAST $ 444.91 M Investor Amount Year 30 M USD 2017 Undisclosed 2017 Undisclosed 2017 30 M USD 2017 Undisclosed 2017 19.96 M USD 2017 45 M USD 2017 4.3 M USD 2017 Undisclosed 2017
  100. 100. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD INVESTMENT FUNDS RAISED IN 2012-2019 (Pt.4) AT LEAST $ 444.91 M Investor Amount Year 50 M USD 2018 Undisclosed 2018 10 M USD 2018 Undisclosed 2018 30 M USD 2019
  101. 101. APPENDIX: THAILAND FUNDED STARTUP LIST
  102. 102. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : EXITS Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Ask Hanuman undisclosed (Seed) undisclosed (Exit) - undisclosed 2013 Alpha Founders (S), Acquired by Rabbit Internet Computerlog y $1 M (Series A) undisclosed (Exit) $1 M undisclosed 2009 InVent Capital (A), Acquired by Yello Digital Marketing Meb $1.59 M (Exit) - $1.59 M 2013 Acquired by Officemate Moxy undisclosed (Exit) - undisclosed 2013 Acquired by Whats New Group , then M&A with Bilna (rebranded to be Orami) Noonswoon $400 K (Seed) undisclosed (Exit) - undisclosed 2013 Andrew Vranjes (S), Chintaka Ranatunga (S), Golden Gate Ventures (S) One2car $14.4 M (Exit) - undisclosed 2002 Acquired by iCar Asia Paysbuy undisclosed (Exit) - undisclosed Acquired by Omise Storylog undisclosed (Exit) - undisclosed 2014 Acquired by Ookbee OBVOC undisclosed (Exit) - undisclosed Acquired by Thoth Zocial DGM39 undisclosed (Exit) - undisclosed Acquired by LINE
  103. 103. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : EXITS Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Tarad undisclosed (Exit) - undisclosed Acquired by TSpace Digital Sellsuki undisclosed (Exit) - undisclosed Acquired by LINE
  104. 104. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES C&B Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors 2C2P $1 M (Series A) $2 M (Series B) $7 M (Series C) $10 M undisclosed 2003 DMP (A), GMO Ventures (B &C), Amun Capital (C) aCommerce $3.1 M (Seed) $10.7 M (Series A) $5 M (Series A) $10 M (Series A) $65 M (Series B) $10 M (Series C) $103.8 M undisclosed 2013 Ardent Capital (S&A & A2), Asia PacificCapital(A), CyberAgent Ventures (S & A), Sinar Mas (A &A2), Inspire Ventures (A&A2), NTT Docomo (S & A), JL Capital (A), Sumitomo Corporation Equity Asia (A), Bluesky Venture(A4,B), DKSH(A3,A,4,B,C) Emerald Media (B) MDI Ventures (A4,B), Kohlberg Kravis Roberts (C), January Capital (C), Sinarmas (C), Emerald Media (C) Eko $1 M (Series A) $5,7 M (Series A) $2 M (Series A) $20 M (Series B) $28.7 M undisclosed 2012 500 Startups (S), Tigerlabs (S), Wavemaker Labs (S), Gobi Partner (A,A2,B) ITOCHU (A2) SMDV (B) RedBeat Venture (AirAsia) (B) East Ventures (B) Ookbee $2 M (Series A) $7 M (Series B) $19 M (Series B) Undisclosed (Pre- Series C) $28 M undisclosed IT Works (1999), Ookbee 2011 Invent (A), Transcosmos (B1) TenCent (B2) Beacon VC (Preseries-C) Playlab $5 M (Series B) $5 M undisclosed 2012 Monk’s Hill Ventures (B) WearYouWa nt undisclosed (Series B) undisclosed (Series B) Closed Closed Closed $ 1.5M + undisclosed 2011 DMP VC (A), Starttoday (B1),Sebrina Holdings (B2) IMJ (A), Julien Chalte (A),Kimura Shinji (B1), Opt SEA (A,B1)
  105. 105. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES C&B Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Omise $3 K (Seed) $2.6 M (Series A) $17.5 M (Series B) Undisclosed (Series B+) and $25 M in ICO Undisclosed (Venture Round) $ 23.1M+ & $25M (ICO) undisclosed 2013 East Ventures (S &A), 500Startups (A) 500TukTuks (A), SMDV (A,B), Ascend Capital (A,B), Golden Gate Ventures (A,B) SBI Investment (B) Ittipat Peeradechapan (S), Krungsri (B+), Nomura (VR) Pomelo $1.6 M (Seed) Undisclose d (Series A) $11 M (Series A) $19 M (Series B) $52 M (Series C) $ 83.6 M+ undisclosed 2013 Jungle Ventures (S,A), 500 Startups (S,A), Fenox Venture Capital (S &S2), QueensBridge Venture Partners (S), Tovio Annus (S,C), Jonathan Price (A) Andre Hoffmann (A,C) JD.com (B) Provident Capital Partners (B) Lombard Private Equity (B,C) Central Group (B,C), Start Today Ventures (B), Ambient Sound Investments OU (C), The Luxembourg Company Deverel (C), Provident Growth Fund (C), InterVest Star SEA Growth Fund (C) Wongnai Undisclose d (Series A) Undisclose d (Series A) - undisclosed 2012 Recruit Strategic Partners (A) Invent (B) Priceza Undisclose d (Series A) $7 M (Series B) Undisclose d (Series B) - undisclosed 2010 CyberAgent Ventures (A) Hubert Burda Media (B) Eatigo Undisclose d (Series B) $15.5 M (Series B) $10 M (Series B) $25.5 M+ undisclosed 2013 TripAdvisor (B1,B2) Baania Undisclosed (Seed) Undisclosed (Series A) $3.3 M (Series B) $ 3.3 M undisclosed - 500 TukTuks (S,A), Krungsri Finnovate (S,A,B), AddVentures (S,A), PTT (S,A) TQLD (TQM) (B) THS Growth (Teo Hong Silom) (B) Ecartstudio $ 1.3 M (Series B) $ 1.3 M undisclosed 2004 InVent (B)
  106. 106. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES A Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Builk $400 K (Seed) Undisclosed (Seed) Undisclosed (Pre-Series B) undisclosed undisclosed 2009 Project Planning Service PLC (S), Pawoot millconsteel, AddVentures (Pre- B) Buzzebees $5 M (Series A) Undisclosed (Seed) $5M undisclosed - undisclosed Chococard $300 K (Seed) $1.6M (Series A) Undisclosed (Series A+) $1.9 M undisclosed - NVestVenture (SMEs Private Equity Trust Fund by GSB), InVent (A), Krungsri Finnovate (A+) Claim Di Undisclosed (Seed) $2 M (Series A) $2 M+ undisclosed 2000 Cyber Agent Venture (A), 500 Startups (S&A), Golden Gate Ventures (S&A), Mike Prasad (S), Takeshi Ebihara (Rebright Partners) (S), Samer Karam (S), T(ommy Chia (Super Aces Ventures) (S), Ravi Agarwal (engageSpark). (S), dtac Accelerate (A), Double A (A) Deep Pocket (T2P) Undisclosed (Seed) Undisclosed (Series A) undisclosed undisclosed - 500Startups (S) , 500Tuktuks (S) , Benchachinda Group (S), J Venture (A) Digio Eatigo Eatigo Eatigo Eatigo Eatigo Eatigo Undisclosed (Series A) Eatigo undisclosed undisclosed - InVent (A) DriveMate Undisclosed (Seed) 2.2 M Series A 2.2 M undisclosed 2016 500TukTuks (S), dtac (S) NETSOL Technologies Inc. (A), Isuzu UNT Group (A), Colopl Next (A)
  107. 107. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES A Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Eventpop $500 K (Seed) Undisclosed (Series A) $ 500 K+ undisclosed 2015 KK Fund (S), Opt SEA(S), Hirokazu Mashita(S), Ittipat Peeradechapan (S), InVent (A), Beacon (A) Fastwork $155K (Seed) $550K (Seed) $4.8M (Series A) $5.5M undisclosed 2016 500TukTuks (S1,S2,A), dtac (pre-S),CyberAgent Ventures (S2), LINE Ventures (A),Gobi Partners (A), Partech (A), Vickers Venture Partners (A) FavStay $2.9 M (Series A) $2.9 M undisclosed - 500TukTuk s (A), Dusit Thani (A) Finnomena Undisclosed (Seed) $3.2M (Series A) $ 3.2 M+ undisclosed 2016 Krungsri (A), Benchachinda (A) 500TukTuks (S,A),dtac(pre-S) Getlinks $125 K (Seed) $500 K (Seed) Undisclosed (Series A) Undisclosed (Series A) $625 K+ undisclosed 2015 500 Startups(S2), CyberAgent Ventures(S), Axis Capital Partners (A), Wellesleys (A), Alibaba Entrepreneurs Fund (Pre-series B) ,SEEK,Falcon Partners VC (Pre-series B) , AddVentures (Pre-series B) Giztix Undisclosed (Seed) $ 1.65 M (Series A) $ 1.65 M+ undisclosed 2015 AddVentures (A), WaveMaker (A), KKfund (S), 500Tuktuks(S,A), dtac (pre-S) Gogoprint Eatigo Eatigo Eatigo Eatigo Eatigo Eatigo $ 7.7 M (Series A) $ 7.7 M undisclosed 2015 OPG (Online Printing Group) (A) GoWabi Undisclosed (Seed) Undisclosed (Series A) - undisclosed 2015 500TukTuk s (S,A)
  108. 108. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES A Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors GoWabi Undisclosed (Seed) Undisclosed (Series A) - undisclosed 2015 500TukTuk s (S,A) HotelQuickly $1.16 M (Series A) $1.16 M (Series A) $5.66 M undisclosed 2012 Boon Hwee Koh (A), GREE (A2), William E. Heinecke (A)a Ini3 Undisclosed (Series A) undisclosed undisclosed - SoftBank Ventures Korea JetRadar Undisclosed (Series A) $10 M undisclosed 2009 iTech Capital (A) Medical Depatures $2.5 M (Series A) $ 2.5 M undisclosed 2014 DMP(A), Hubert Burda Media(A), CyberAgent Ventures(A), OPT SEA(A) Meticuly Undisclosed (Series A) undisclosed undisclosed 2017 Expara (A) Orami $15 M (Series A) $15 M (Series A) $ 30 M undisclosed 2016 Sinar Mas Digital Ventures (SMDV), Gobi Partners, Facebook Co- founder, Ardent Capital,
  109. 109. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES A Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Playbasis Eatigo $23 K (Seed) $350 K (Seed) $770 K (Seed) $1.8 M (Series A) Eatigo $2.943 M undisclosed 2012 Adrian Vanzyl (S1), Ardent Capital (S2), Khailee Ng (S3), 500 Startups (S3 & A), Axis Capital Corp (S3), Cherubic Ventures (S3 & A), InVent (A) QueQ $2.8 M (Series A) $2.8 M undisclosed 2015 True Incube (A), Bon Angels Venture Partners (A) Roojai $ 7M (Series A) $7M undisclosed 2016 IFC (International finance corporation) Stamp Undisclose d (Series A) undisclosed undisclosed 2015 Golden Gate Ventures (A), Altpoint Ventures (A) Sendit Undisclose d (Series A) $ 2.5 M undisclosed 2014 DMP(A), Hubert Burda Media(A), CyberAgent Ventures(A), OPT SEA(A) Sunday Insurance $10 M (Series A) $11 M (Series A) $ 21 M undisclosed 2017 Vertex Ventures (A1,A2), Quona Capital (A2) Tourkrub Undisclose d (Seed) $ 3 M (Series A) $ 4.02 M undisclosed 2014 500TukTuks (S,A), KingPower Click (A), , SMEs Private Equity Trust Fund by GSB via Premier Advisory Group (A),
  110. 110. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SERIES A Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Work Venture $420 K (Seed) $ 3.6 M (Series A) $ 2.5 M undisclosed 2014 Sommaphat Traisorat (S) undisclosed for Series A YDM Thailand $3 M (Series A) $ 3 M undisclosed - InVent (A), nvestventures (A), Premier Advisory Group (SMEs Private Equity Trust Fund by GSB and SET) Zanroo Eatigo Eatigo $7.4 M (Series A) $ 7.4 M undisclosed - ShiftVentures (A)
  111. 111. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Anipipo $104.29 K (Seed) $104.29 K undisclosed 2011 Kentaro Sakakibara (S), Samurai Incubate (S) Apply Sphere $500 K (Seed) Undisclosed (Seed) Undisclosed (Seed) $500 K+ undisclosed 2013 Unlimited Capital (S) SiriVentures (S2) Asiola Undisclosed (Seed) - undisclosed - 500 TukTuks (S) Blisby $300 K (Seed) $300 K undisclosed 2013 500 Startups (S), DeNA (S), East Ventures (S) Bellugg Undisclosed (Pre-Series A) - undisclosed 2016 Expara (Pre- A), 500TukTuks (Pre-A) Bitkub Undisclosed (Seed) 2.1 M (Seed) 1.67 M (Pre-Series A) $ 3.77 M undisclosed 2016 dtac (S), SeaX Ventures (S), Siamrath (S) Blue Parking Undisclosed (Seed) - undisclosed 2017 Bluebik (S), THS Growth (S)
  112. 112. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Buzzcommerce Eatigo $300 K (Seed) Eatigo - undisclosed 2014 East Ventures (S) Cloud Commerce Undisclosed (Seed) Undisclosed (Seed) Undisclosed (Pre-Series A) - undisclosed 2016 Pawoot Pongpitayapanu (S) 500Tuktuks (S, Pre-A), Intania Open Innovation Club (IOIC) (S), dtac accelerate (S), Expara (Pre- A), SET (Pre-A), CU Innovation (Pre-A) Chomchob Undisclosed (Seed) - undisclosed - 500Tuktuk (S) Cookly Undisclosed (Seed) - undisclosed 2015 500Tuktuk (S) DealCha Undisclosed (Seed) - undisclosed 2015 500TukTuks (S),Next Tech (S), SOLERA Investment (S), Robert Lomnitz (S) DeepSpark Undisclosed (Seed) Undisclosed (Seed) - undisclosed 2018 500TukTuks (S1,S2), Chanwanich(S) , JVenture (S) Deliveree Undisclosed (Seed) - undisclosed 2015 Ardent Capital (S), Inspire VEntures (S)
  113. 113. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Drivebot Eatigo Undisclosed (Seed) Eatigo $ 112 K undisclosed 2013 Crowdfund ed via Indiegogo Digital Butler Undisclosed - undisclosed - Origin, Kasikorn Bank Doctor A to Z $ 400 K (Seed) $ 400 K undisclosed - Invent (S) Energaia Undisclosed (Seed) - undisclosed 2009 500TukTuk s (S) Event Carnival Undisclosed (Seed) - undisclosed 2014 East Ventures (S) Event Banana Undisclosed (Seed) $ 0.65M (Seed) - undisclosed - 500TukTuks (S,S2), Expara (SMEs Private Equity Trust Fund by GSB and SET) (S2), JASPAL Group (S2) ETRAN Undisclosed (Pre-Series A) - undisclosed 2015 Undisclosed (Pre-A)
  114. 114. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors FindYourSpace $ 30K (Seed) $ 45K (Seed) $ 45K (Seed) $300K (Seed) $ 420 K undisclosed 2014 Re A Pra (S) Fixzy Eatigo Undisclosed (Seed) $300 K (Seed) Undisclosed (Seed) $ 300K + undisclosed 2015 Iyara VC (S1), Three undisclosed angels (S2),SCassest Freshket Undisclosed (Seed) - undisclosed 2016 500TukTuk s (S), dtac (pre-S) FoodStory $1 M (Seed) $ 1M undisclosed 2012 Wongnai (S) GetVan Undisclosed (Seed) - undisclosed - 500Tuktuk s (Fund II) (S) Globish $ 160 K (Pre-Seed) $ 180 K (Undisclosed) $ 900 K (Undisclosed) $ 1.24 M undisclosed 2014 dtac accelerate Batch 5 (Pre-S), Rosewood Capital (Pre-S), Mr.Jan- Christian Rosemeyer (Pre-S), Tiger Wings (2017), Mr.Chaiyapon Chawanwanitchai (2017), Boon Ventures (2017), NVest Ventures (SMEs Private Equity Trust Fund by GSB and SET) (2019) , BonAngels VC (2019), Rarejob (2019) Ginja Undisclosed (Seed) - undisclosed - 500TukTuk s (S)
  115. 115. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors GolfDigg $700 K (Seed) $700 K $2.8 M 2013 InVent Capital (S) HG Robotics Undisclosed (Seed) - undisclosed 2016 Add Ventures by SCG Healthathome Undisclosed (Seed) - undisclosed 2015 dtac (pre-S) Muangthai Insurance (S) 500Tuktuks (S) Hipflat $335 K (Seed) $335 K undisclosed 2012 8capital Partners (S), Chang Ng (S), Crystal horse Investments (S), Kris Nalamlieng (S) Hola Eatigo Undisclosed (Seed) - undisclosed 2013 undisclosed Horganice Undisclosed (Seed) - undisclosed Beacon VC (S) HUBBA $350 K (Seed) $350 K undisclosed 2012 500 Startups(S), 500 TuksTuks(S), Ardent Capital (S) Golden Gate Ventures (S)
  116. 116. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors HungryHub $ 450 K (Seed) $450 K undisclosed Expara (S) 500TukTuks (Fund II) (S) IndieDish Undisclosed (Seed) - undisclosed - dtac (pre- S), 500Tuktuk (S) Infofed Undisclosed (Seed) - undisclosed KKfund (S), Eventpop (S) Infinity Levels $500 K (Seed) $500 K undisclosed 2013 InVent Capital (S) instawash Undisclosed (Seed) Undisclosed (Seed) - undisclosed - 500Tuktuk (S), dtac accelerate (S) Jiita Eatigo $6.5 M (Pre-Series A) $6.5 M undisclosed 2014 Beacon VC (Pre-A), Mr.Pattarapon Silapajarn Jobtalents Eatigo $100 K (Seed) $100 K undisclosed 2013 Natavudh Pungcharoenpong (S), Sangboon Sangmanee (S), Polapat Udomphol (S)
  117. 117. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Jubjai $500 K (Seed) $500 K undisclosed - - JuiceInnov8 Undisclosed (Seed) $1.2 M (Pre-Series A) - undisclosed 2014 500Tuktuk (S, Pre-A), 500 Durians (Pre-A) KEEPS Undisclosed (Seed) - undisclosed 2019 Bluebik (S) Kinkao Undisclosed (Seed) - undisclosed 500Tuktuk (S) Magic Box Asia $300 K (Seed) $300 K $3,358,338 2013 Quan (S), Natavudh Pungcharoenpong (S), Pawoot Pongpitayapanu (S), Suphachai Kanjanasakchai (S), East Ventures (S) Meditech Solution $160 K (Seed) $160 K $562 K 2009 InVent (S) MoneyTable $1.5M (Seed) Undisclosed (Seed) $ 1.5 M undisclosed - Kejora (S), K2Venture (S) Chualapayap Srikarnchana (S) Chatchaval Jiaravanon (S)
  118. 118. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Nasket Eatigo $150K (Seed) Undisclosed (Seed) Undisclosed $150K+ undisclosed - Worawoot ounjai, Pawoot Pongvitayapanu OneStockHome Undisclosed (Seed) - undisclosed 2009 500TukTuk s (S) OnionShack Undisclosed (Seed) - undisclosed - SiriVentures (S) OpenDurian Undisclosed (Seed) - undisclosed 2013 500 Tuktuks II (S) Page 365 Undisclosed (Seed) Undisclosed (Seed) - undisclosed 2012 Galaxy Ventures (S2), Inspire Ventures (S) Panya Studio Undisclosed (Seed) - $3,358,338 2018 500 TukTuks (S), Santora Nakama (S) Peak $20 K (Seed) $300 K (Seed) $320 K $562 K 2014 True Incube (S), M8VC (S), Expara (SMEs Private Equity Trust Fund by GSB and SET)
  119. 119. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors PenguinT Undisclosed (Seed) - undisclosed - 500Tuktuk (S) Plizz $300 K (Seed) $ 300 K undisclosed 2015 REAPRA (S) Piggipo Eatigo $70 K (Seed) Undisclosed (Seed) $70 K+ undisclosed 2013 Ookbee (S), dtac (S), 500TukTuks (S), GoldenGate Venture (S) PlanforFit Undisclosed (Seed) - undisclosed - muru-D (S), RCL Accelerator (S) Ricult $ 600K (Seed) $1.85 (Seed) $2.45 M undisclosed 2016 dtac (pre-S) Bill & Melinda Gates Foundation (S,S2), Chanwanich Group (S2), Wavemaker (S2), 500Tuktuks (S2) Seekster Undisclosed (Seed) undisclosed undisclosed - Digital Ventures (S) dtac (S) 500 TukTuks (S) SiamCarDeal $ 330 K (Seed) $ 330 K undisclosed 2016 500 Tuktuks II (S)
  120. 120. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Skilllane Undisclosed (Seed) Undisclosed (Seed) - undisclosed 2014 Metaliq Growth Partners (S) Ittipat Peeradechapan (S2) 500Tuktuk (S1) Social Nation $500K (Seed) Undisclosed (Seed) $ 500 K + undisclosed 2014 InVent (S), BDMI (S), Danhua Capital (S), Greycroft Partner (S), Index Ventures (S), Suisse Capital Global Management, Virtual Reality Investments (S), Wonder Ventures (S) STYLHUNT $25 K (Seed) $500 K (Seed) $525 K undisclosed 2014 500 TukTuks (S2), CyberAgent Ventures (S2), Expara IDM Ventures (S2), Singapore Angel Network (S2), JFDI.Asia (S1) Paul Pattarapon Sinlapajan SystemStone Undisclosed (Seed) Undisclosed (Pre-Series A) - undisclosed - True Incube (S), Expara (Pre-A), dtac accelerate (Pre-A) Tellscore Undisclosed (Seed) - undisclosed - Pawoot Pongvitayapanu (S) Treasurist $ 1.1 M (Seed) $ 1.1 M undisclosed - Undisclosed (S) U Lease Undisclosed (Seed) - undisclosed - Pawoot Pongvitayapanu (S)
  121. 121. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Seed Series A Series B Series C Exit THAILAND FUNDED STARTUP LIST : SEED FUNDING Startups 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total raised Valuation Founded Investors Venue E Undisclosed (Seed) - undisclosed - Event Pop (S) VVR Asia Undisclosed (Seed) - undisclosed - Invent (S) Zmyhome $400 K (Seed) $400 K undisclosed - KKfund (S)
  122. 122. APPENDIX: VC ACTIVITY IN THAILAND
  123. 123. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD VC ACTIVITY IN THAILAND Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies 500 Startups 6 3 3 12 Playbasis (S3 &A),Pomelo (S) Taamkru (S), HUBBA (S), Blisby(S), ClaimDi (S,A),Eko (S), Yogatrail (S), Omise (A), getlinks(S), Deep Pocket (S) 500 TukTuks 10 12 16 12 9 59 Blisby (S), HUBBA (S), Omise (B),Flowaccount (S), Skootar (S), Wisebeer (S), Takemetour (S), Stylhunt (S), Washbox24 (S),ClaimDi (A) Piggipo (S), DeepPocket (S,A), Fastwork (S), GizTix (S,A), Ginja (S), TicketBox (S), Finnomena (S,A), OneStockHome (S), Skilllane (S2), StockRadars (S),Pomelo(A), Cookly(S),Freshket(S),Favstay(A),Tourkrub(S),Asiola(S), Baania (S), Drivemate (S), Seekster (S), IndieDish (S), Event Banana (S), Ricult (S), Health at Home (S), DealCha (S), Gowabi (S), PenguinT (S), CloudCommerce (S), Chomchob (S), bellugg (S), Panya (S), DeepSparks(S),Kinkao (S),Energaia (S),JuiceInnov8 (S), Instawash (S), GetVan (S), HungryHub (Fund II) (S), OpenDurian (Fund II) (S) 8capital Partners 1 1 Hipflat (S) AddVentures 2 2 4 Giztix (A), Baania (S), Builk (Pre-B) , Getlinks (Pre- Series B), HG Robotics, Ralali*, Dekoruma* *Not Thai companies Alibaba 1 1 Getlinks Alpha Founders 1 1 ASK Haunman (S) Altpoint Ventures 1 1 Stamp (A)
  124. 124. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Amun Capital 1 1 2C2P (C) Ardent Capital 1 2 2 1 6 Playbasis (S2 &S3), Whats New Asia (S), Deliveree (S), HUBBA (S), Orami (A) Ascend Capital 2 1 3 Omise (A,B), Sendit (A) Asia Pacific Capital 1 1 aCommerce (A) Axis Capital Corp 1 1 2 Playbasis (S3), Getlink (A) Beacon VC 2 3 2 7 Flow account (S2), Eventpop (A), Ookbee (C), Grab* (H), Instarem* (C), Horganice (S), Jitta (Pre-A) *Intl Startup Benchachinda Group 1 1 2 Deep Pocket (S), Finnomena (A) VC ACTIVITY IN THAILAND
  125. 125. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Blue Sky Venture 1 1 2 aCommerce (A4,B) Bill & Melinda Gates 1 1 Ricult (S1,S2) Central Group 1 1 Pomelo (B) Chanwanich 1 1 Result (S2) Cherubic Ventures 1 1 Playbasis (S3 &A) Crystal Horse Investments 1 1 Hipflat (S) CyberAgent Ventures 2 1 2 2 1 8 aCommerce (S &A), Priceza (A), StockRadars (S), Medical Departures (A), ClaimDi (A), getlinks(S), Fastwork (S2) VC ACTIVITY IN THAILAND
  126. 126. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies depa Digital Startup Growth Stage Fund 15 15 Arincare, JuiceInnov8, Globish, Kiddeepass, Beyond Training, Refinn, AVA, Noburo, Drivemate, Haup, iTax, ClassCafe, Fixzy, Hybrid superaerator, CloudCommerce DeNA 1 1 Blisby (S) Digital Media Partners (DMP) 1 1 1 1 4 2C2P (A) WearYouWant (A) & (B), Medical Departures (A) Digital Ventures 1 4 2 7 Ripple*, Pulse ID*, IndoorAtlas*, Paykey*, 1Qbit*,Pagaya*, Seekster (S) * Not Thai companies DKSH 1 1 1 3 aCommence (A3,A4,B,C) dtac 1 4 6 11 12 12 14 60 Fast in flow(pre-S),Piggipo(S),StoryLog(pre-S),DriveBot(pre-S),ClaimDi,(A),Skootar(pre-S),TakeMeTour(pre-S),SuperRFQ(pre- S),GizTix(pre-S),TechFarm(pre-S),ZmyHome(pre-S), Finnomena(pre-S), WearandShare(pre-S), Fabbrigade(pre-S), Savinsure(pre-S), Freshket(pre-S), Fastwork(pre-S), CloudCommerce(pre-S), Health at Home(pre-S), Visionear(pre-S), PlanforFit (pre-S), Eventpass(pre-S),Drivemate (S), Seekster (S),Cookly (pre-S), Creden (pre-S), Globish (pre-S), IndieDish (pre-S),Ricult (pre-S), ScoutOut (pre-S), Senseino (pre-S), Shiftspace (pre-S),Tixget (pre-S), Tourkrub (pre-S),CareerVisa(Pre-S),DoctorA-Z(Pre-S),Event Banana (Pre-S),Gowabi(Pre-S),Kochii(Pre-S),Kohlife(Pre-S),Noburo(Pre-S),Ooca(Pre-S),Penguint(Pre-S),Somjai Home Loan (Pre- S),Zwiz.ai(Pre-S), Bitkub (Pre-A) System Stone (Pre-A), Instawash (S), Arincare (pre-S), Fingas (pre-S), Foodie (pre-S), Hisobus (pre- S) , Kinkao (pre-S), LING (pre-S), Loops (pre-S), Skooldio (pre-S), Sneak (pre-S), Trash Lucky (pre-S), Viabus (pre-S), Ztrus (pre-S) Dusit Thani 1 1 FavStay(A) VC ACTIVITY IN THAILAND
  127. 127. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Emerald Media 1 1 aCommerce (B) Expara Ventures 1 2 5 8 Stylhunt (S), Peak (S)*,Eventbanana (S2)*, Hungry Hub (S), Cloud Commerce (Pre-A), Bellugg (Pre-A), Meticuly (A), SystemStone ( Pre-A) Falcon Partners VC 1 1 Getlinks Fenox Venture Capital 1 2 Pomelo (S1 & S2) Galaxy Ventures 1 1 Page 365 (S) GMO Partners 1 1 2 2C2P (B&C) Gobi Partners 1 1 1 1 4 Eko (A,A2), Orami, Fastwork (A) VC ACTIVITY IN THAILAND
  128. 128. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Golden Gate Ventures 1 1 4 1 1 8 Noonswoon (S), HUBBA (S), ClaimDi (S,A), Omise (A,B), Stamp (A), Piggipo (S), Flowaccount (S2) GREE 1 1 Hotel Quickly (A2 Hubert Burda Media 2 2 Medical Departures (A), Priceza (B) iCar Asia 1 1 One2car (Acquisition) IFC (International finance corporation) 1 1 Roojai (A) IMJ Investment Partners 2 2 Taamkru (S), WearYouWant (A) Inspire Venture 2 2 4 aCommerce (A &A2), Page 365 (S) deliveree (S) VC ACTIVITY IN THAILAND
  129. 129. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies InVent 1 2 1 3 3 3 3 2 18 Ookbee (A), Meditech (S),Computerlogy (A), Golfdigg (S), Infinity Levels (S), Sinoze (S),Playbasis (A), ShopSpot (S), Wongnai (B), Social Nation (S), Digio (A), Shopback* (A), Eventpop (A), YDM Thailand (A), Chococard (A), VVR (S) *SG startup, Doctor A to Z (S), Ecartstudio (B) iProperty Group 1 1 ThinkofLiving (Acquisition) iTech Capital 1 1 JetRadar (A) ITOCHU 1 1 Eko (A2) JASPAL Group 1 1 Event banana (S2) J Venture 1 1 Deep Pocket (A) JD.com 1 1 Pomelo (B) VC ACTIVITY IN THAILAND
  130. 130. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies JFDI.Asia 1 2 3 Shopspot (S), Rushbike (S), StylHunt (S) JL Capital 1 1 aCommerce (A) Jungle Ventures 1 1 1 3 Shopspot (S), Pomelo (S,A) K2Ventures 1 1 Money Table (S) Kejora 1 1 Money Table (S) Krungsri Finnovate 3 1 2 6 Finnomena (A), Omise (B+), Baania (S,A,B), Chococard (A+) KKFund 2 1 3 Eventpop(S), Giztix (S), ZmyHome (S) VC ACTIVITY IN THAILAND
  131. 131. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies LINE Ventures 1 1 Fastwork (A) Lombard Private Equity 1 1 Pomelo (B) M8VC 1 1 Peak (S) Muang Thai Insurance 1 1 2 HealthatHome (S), C88* (C) * Not Thai Companies M&S Partners 1 1 Taamkru (S) MDI Ventures 1 1 2 aCommerce (A4,B) Metaliq Growth Partners 1 1 SkillLane (S) VC ACTIVITY IN THAILAND
  132. 132. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Millconstell 1 1 Builk Monk’s Hill Venture 1 1 Playlab (B) Muru-D 1 1 Planforfit (S) NTT Docomo Ventures 1 1 2 aCommerce (S &A) Next Tech 1 1 DealCha (S) NVestVenture 2 2 Chococard (S)*, YDM Thailand * (A), Globlish Ookbee 3 3 Taamkru (S), Piggipo (S), Ticketbox VC ACTIVITY IN THAILAND
  133. 133. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies OPG 1 1 Gogoprint (A) OPT SEA 1 1 2 4 WearYouWant (A) & (B1), Eventpop(S),Medical Departures (A) Partech 1 1 Fastwork (A) Premier Advisory Group 1 1 YDM Thailand* Priceza 1 1 Primecapture (S) Project Planning Service (PPS) 1 1 Builk (S) Provident Capital Partners 1 1 Pomelo (B) VC ACTIVITY IN THAILAND
  134. 134. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies PTT 1 1 Baania (S) Quan 1 1 Magic Box Asia (S) Queensbridge Venture Partners 1 1 Pomelo (S) Re A Pra 1 1 FindYourSpace or Propertyflow (S) Recruit Holdings 1 1 Wongnai (A2) Recruit Strategic Partners 1 Wongnai (A) Redbeat Ventures (AirAsia) 1 1 Eko (B) VC ACTIVITY IN THAILAND
  135. 135. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Sansiri 6 6 Standard International, Hi-End, One Night, Hostmaker,JustCo, Farm shelf, Monocle *** Not Thai companies Santora Nakama 1 1 Panya Studio (S) SC Asset 1 1 Fixzy (S3) Sebrina Holdings 1 1 WearYouWant (B2) Seek Group 1 1 Getlinks Samurai Incubate 1 1 Anipipo (S) SBI Investment 1 1 2 Omise (B), Flowaccount (S2) VC ACTIVITY IN THAILAND
  136. 136. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies ShiftVenture 1 1 Zanroo(A) SiriVentures 3 3 Farm shelf*, Neuron Mobility*,Techmetics*,Semtive*,astralink*, Onionshack, Appy Sphere *Not Thai companies Singtel Innov8 1 1 2 Shopspot (S2) SMDV 1 1 2 1 5 aCommerce (A &A2), Omise (A,B), Orami (A), Oko (B) Softbank Ventures Korea 1 1 ini3 (?) SOLERA Investment 1 1 DealCha (S) Start Today 1 1 WearYouWant (B1) VC ACTIVITY IN THAILAND
  137. 137. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Sumitomo Equity Corporation Asia 1 1 aCommerce (A) Tencent Holdings 1 1 Ookbee (C) Tigerlabs 1 Eko (S) Transcosmos 1 Ookbee (B) TripAdvisor 1 1 2 Eatigo (B1, B2) True Incube 2 1 2 1 6 Sellsuki (S), Peak (S), Lotadata*, Eureka Analytics*, QueQ (A) *Not Thai Companies Unlimited Capital 1 1 2 Appy Hotel (S & A) VC ACTIVITY IN THAILAND
  138. 138. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Transcosmos 1 Ookbee (B) TripAdvisor 1 1 2 Eatigo (B1, B2) True Incube 2 1 2 5 Sellsuki (S), Peak (S), Lotadata*, Eureka Analytics* *Not Thai Companies Unlimited Capital 1 1 2 Appy Hotel (S & A) Velos partners 1 1 Orami (A) Vickers Venture Partners 1 1 Fastwork (A) Wavemaker 1 1 1 3 Eko (S), Giztix (A), Ricult (S2) VC ACTIVITY IN THAILAND
  139. 139. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Investor 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total deal Portfolio companies Velos partners 1 1 Orami (A) Vickers Venture Partners 1 1 Fastwork (A) Wavemaker 1 1 1 3 Eko (S), Giztix (A), Ricult (S2) Wellesleys 1 1 Getlink (A) VC ACTIVITY IN THAILAND
  140. 140. HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD CONTRIBUTOR Entrepreneur in Residence - Wework Labs Paul Ark Krating Poonpol President - Kasikorn Business- Technology Group Founding Partner - 500 Tuktuks Nutthawud Pungcharoenpong CEO - Ookbee Thanawat Malabuppha President - Thailand E-Commerce Association Dr.Chanikarn Wongviriyawong Founder and CEO - Eatlab Dr.Chinawut Chinaprayoon Executive Vice President - Digital Economy Promotion Agency (depa) Monthida McCoole Board Member - Female Founders Dr.Panachit Kittipanya-ngam President - Thai Tech Startup Association Rungsun Promprasith CEO - QueQ Shannon Kalayanamitr Venture Partner - Gobi Partner Thanapong Na Ranong Managing Director - Beacon Ventures President - Thai VC Association
  141. 141. FOR MORE INFORMATION OR ANY INQUIRIES HTTP://TECHSAUCE.CO Techsauce Global @techsauceth contact@techsauce.co HTTP://TECHSAUCE.CO COPYRIGHT 2019 TECHSAUCE CO.,LTD Techsauce Thailand

×