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THAILAND TECH STARTUP ECOSYSTEM REPORT 2018 INVESTOR GUIDE

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD ABOUT TECHSAUCE 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.

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HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD • Introduction • Thailand Startup Ecosystem Overview CONTENTS • Ecosystem activity and funding movement INDEXS • An In-Depth Look • Appendix • Thailand Startup Ecosystem Key Player • Fund Raising in annual 2011-2018 • Investment Fund Raised in 2012-2018 • Startup Funded Stage 2011-2018 • VC Activity in Thailand 2011-2018

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 DISCLAIMER 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD INTRODUCTION TO THAILAND’S 69.03 M 57.00 M 124.8 M

MARKET Population Internet User Mobile Subscription Not fragmented (82% penetration) (180% est. On Population)

46.00 M 55.56 M 30%

Active Mobile Social Users Unique Mobile Mobile users 4G (67% penetration) Users Subscription

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Source : nbtc.go.th, we are social THAILAND STARTUP ECOSYSTEM OVERVIEW An overview of the quantity of various industries in 2018 and the key players of Thailand’s tech startup ecosystem. 2018 Tech Startup Deals An Overview of Thailand’s Tech Startup Deals in 2018 (Percentage represents the number of deals made.)

Other Food/Bio/Restaurant 17% 14% Construction 3% Fintech AgriTech 9% 3% Robotic AT LEAST 3% 61.25M USD PropTech Enterprise Platform 9% 6%

E-Commerce Marketplace Digital Content 11% 9% Travel Tech Reward 6% 6% Marketing Tech 6%

Other: Recruitment, Gaming, Professional Service, Insurtech, Online Service and Retail Note: This report uses only data disclosed to the public. Thai Investor Deals Made in 2018 Thai Investors’ Movements in 2018 in Thailand and Overseas (Percentage represents the number of deals made.) Food/Bio/Restaurant 12.5% ecommerce/marketplace 12.5% Other 15.6% FinTech AT LEAST 12.5% AgTech 106.7 M USD 3.1% Reward Robotic 6.3% 3.1% PropTech Enterprise platform 6.3% 3.1% MarTech Digital Content 6.3% 3.1% Travel Transportation 6.3% 3.1% Deep Tech 6.3% Other: Gaming, Professional Service, Construction, Recruitment and Retail Note: This report uses only data disclosed to the public. The Thai Investors Behind Thailand’s 2018 Startup Movement Thai investments towards Thai startups (Percentage represents the number of deals made.) Food/Bio/Restaurant Other 15% 22%

ecommerce/marketplace 11% Robotic 4% AT LEAST 11.7 M PropTech USD 4% MarTech Enterprise platform 7% 4% AgTech Travel 4% 7% PropTech Reward 4% 7% FinTech 11%

Other: Recruitment, Digital Content, Gaming, Professional Service, Insurtech, Online Service and Retail Note: This report uses only data disclosed to the public. Thai Investors Go Abroad Industries in foreign ecosystems targeted by Thai investors (Percentage represents the number of deals made.)

Deep Tech 25% Fintech 38% AT LEAST 95M USD

E-Commerce 25% Trasportation 13%

Note: This report uses only data disclosed to the public. Thai Investors Go Abroad 2018 Industries in foreign ecosystems targeted by Thai investors

Startup Name Country Industry Thai Investor Funding Round Value (USD) Ralali Indonesia E-Commerce AddVentures by SCG Undisclosed Undisclosed Dekoruma Indonesia E-Commerce AddVentures by SCG Series B Undisclosed Grab Malaysia Transportation Beacon VC (Kbank) Series H 50 M Instarem Singapore FinTech Beacon VC (Kbank) Series C 45 M Pagaya Investments Israel FinTech Digital Ventures Series B Undisclosed Quantum Computing 1Qbit Canada (Deep Tech) Digital Ventures Series B Undisclosed demystdata Singapore FinTech Digital Ventures Series B Undisclosed Techmetics USA Robotic (Deep Tech) SiriVentures by Sansiri Venture Round Undisclosed

E-Commerce FoodTech, BioTech and AgriTech EdTech - Biggest sector that grows - Have become a global trend - Becoming more interesting for - Thailand will be more extensive use child development in the level rapidly and has execution of technology through these tech clearly startups of kindergarten or even pre- - Get lots of attention from - There are small amount of Thai kindergarten. investors startups comparing to foreign ones, - Reskill : Professional also - More mature sector with even though the agricultural industry interest to upgrade their skill to multiple deals in seed stage as is quite big. But many are more fit “Disruptive Era” well as Series A & B focusing on the marketplace instead.

HealthTech FinTech InsurTech - Be now attracting many - Still being interested by many because it - One of technological disruption is a big market. The investment in FinTech and will be more recognized once investors is still high. - Be great for Aging Society - The FinTech market is not big, high there is Ecosystem, which it competitive, which whoever wants to should be available in 2020. compete must have technology - The InsurTech era is not far- supporting. There are only a few Startups reaching and starts with who have product/business that fit in the automobile insurance prior to VC health insurance.

• The consumer behavior of Thais has not yet fully adopted making payments for online services in exception for entertainment content such as for gaming. This has been a challenge for B2C startups and has given more opportunity for B2B businesses. However B2B businesses must rely on the experience and connections of founders.

• Key players within the ecosystem are expected to help drive fundamental businesses of the country more. These businesses are in the sectors of education, agriculture and food. This includes industries such as health and tourism as presently there are few startups within these fields.

• Super Apps are definitely going to appear in 2019. This coincides with the business pattern of big corporations overseas, which is to expand and turn to building their own payment platforms. The transition from being a non-financial to a financial company that offers loans, insurance and health services will impact many corporate players. Should startups compete head on with these big corporations, it will be difficult. Startups need to turn their attention to niche markets such as vertical e-commerce and e-commerce enabling.

• Thai startups that think of ways to collaborate with big players such as super apps will have opportunity to survive and grow.

• Digital lending platforms will boom in Thailand within 2019 from partnerships between Thai banks and online service providers. There will be consumer data to analyze consumer behaviors by using AI for applications for general loans along with loans for specific professions and we will see startups in specific areas such as credit scoring and startups developing AI to analyze loan applications more.

• CVCs will still have interest in Deep Tech funds and Deep Tech startups that are overseas in countries such as Israel, China and the United States.

• There has been increased investment in startups in both Thailand and ASEAN. It can be seen from the continuous investment into Southeast Asia by China. This has spurred the growth of companies and has created a positive outlook for the region.

• Currently, the Startup Ecosystem is much stronger and is considered completed in all aspects. There has been an expansion of various sectors as more types of startups are sprouting in areas such as HealthTech, FoodTech, AgriTech, DeepTech, etc.

• Thailand is still very premature when it comes to foreign venture capital funds. The current Thai investment trend is corporate venture capital (CVC), especially in the mainstream market.

• Newly launched startups are initiated by entrepreneurs aiming to scale to the international market. There is an expansion into countries in Southeast Asia, bringing about different concepts and different market landscapes.

• There is support from the government. The government has been making an effort, but nothing tangible has been made. It is hoped that the public sector will integrate startup technology into government organizations in the future.

• Business sectors and banks have a better understanding of new technology and have invested in partnerships. Therefore when compared to the past, the search for VCs is now easier for startups. Now they no longer have to travel oversea to reach one as they are now accessible in the country.

• The era of horizontal commerce is now replaced with the focus on B2B vertical focus.

• The horizontal platform that sells various types of B2C and C2C products is now dominated by big players like Lazada and Shopee, making it more difficult for new startups to compete. However, there are still opportunities in the B2B vertical platform because new startups still have a chance to create a barrier to entry by creating an integrated supply chain and addressing specific needs of customers in their industry.

• Many Thai investors are not confident investing in e-commerce. Only foreign experts who have a stable financial status are still investing. These foreign investors are Chinese startups adjusting their business models. Competing against them in the marketplace is very difficult.

• Due to the strong growth of e-commerce volume in Thailand and Southeast Asia, there is an opportunity for e- commerce enabler startups. Startups that help improve businesses are more likely to capture the growing number of e-commerce waves. It is an opportunity for new startups to solve existing problems on payment as well.

• Platforms such as commerce, search and social media platforms are now more easily accepted by Thais. These three platforms depend on each other. However, these platforms haven’t generated profit yet.

• Cross border is a trend. Many businesses that start to go online will have the opportunity to become more cross-border. This trend can be observed from big global business in Thailand and Southeast Asia.

• Offline commerce even plays an important role in Southeast Asia. It will change the pattern of growth in the form of omnichannel where businesses have to learn to acquire customers both online and offline like having a store front. Various technologies such as AI will play a role in enhancing customer experience more than in the past.

• The cryptocurrencies market in Thailand is not big enough and the global cryptocurrencies market is at a downtrend. The trend that is still able to continue is the investment of privates at the seed level.

• There is good tech talent available in Thailand, but there is still not enough. Language barrier is one of the issues that interrupt the development. Thailand needs to have an actual good Tech Talent Hero. There needs to be a push for more Thai tech talent in the region, which currently Thailand is doing it now, but slowly.

• Tech talents in Thailand cannot keep up with the trend, especially the CFO and CTO. There has been an interruption from regulations. The key problem is amendments need to be made. One thing that the government can do is improve the incentive scheme planning in order to attract more foreign tech talents

• Startups should focus on technology and should find a CTO who can manage both technology and personnel.

• More awareness of the startup scene has been created but not everyone is ready to launch a startup. There has been a big push, but this push should have been a more thorough process that not only focuses on becoming a business leader. Personnel need to have a wider point of view that is not just based on becoming a founder or a CEO.

• Technology that will become more active in Thailand and Southeast Asia is AI and Blockchain. AI can bring about various data for processing and value can be created from the data to be used in various industries. Meanwhile Blockchain can provide many opportunities if it is used with logistics or smart contracts.

• The trend that is attracting investment is DeepTech, but high technology needs to be used. The most valuable companies today are big DeepTech giants.Hence, it is more important to create deep value and use DeepTech to create more value for the business.

• DeepTech emphasizing on the F&B industry is on its way. The food industry in Thailand is already good. Thailand has many food scientists and food researchers. We see ourselves as the leading agricultural country, so DeepTech startups in the FoodTech and AgriTech industry are much more advanced. FoodTech and AgriTech in Thailand that is value-added with DeepTech will support sustainable growth.

• AgriTech has many sectors. The sectors that have higher opportunities are agriculture and agricultural insurance that uses FinTech to solve the high prices of fruit and vegetables. The rate of development in AgriTech is similar to that of other sectors where there is a need for more support from the government and private sectors.

• In order for a FoodTech and AgriTech revolution to start, there needs to be a huge leap taken in Thailand. The government and private sector need to see the potential in FoodTech and AgriTech. AgriTech is now becoming more interesting as universities and government organizations have shown support and interest. However it is not enough. More is needed to make startups in the agriculture industry become more attractive.

• FoodTech is among the sectors that have high potential. There is a FoodTech community in Thailand and there is interest in FoodTech as there are great opportunities. However execution of the technology is difficult.

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD ECOSYSTEM ACTIVITY AND FUNDING MOVEMENT Activities within the ecosystem that include funding deals, VC & CVC activities such as accelerators. Overview of Thai Startup Funding from 2011-2018: Deal and Value

Estimate value 2011-2018 is 337.368M USD VALUE (M USD) DEAL

US$120M 40.00 35 31 31106.10 US$90M 30.00 26 27 78.17 US$60M 61.25 20.00 14 42.72 US$30M 36.30 10.00 1 2 US$0M 9.73 0.00 20111.00 20123.10 2013 2014 2015 2016 2017 2018

Note: This report uses only data disclosed to the public. Active Investors and Accelerators in Thailand in 2018

ACTIVE VC&CVC IN THAILAND ACTIVE ANGEL ACCELERATORS INVESTORS IN THAILAND 180

135

0 2012 2015 2017 2018

Note: This report uses only data disclosed to the public. The Thailand Tech Startup Funding Movement in 2018

(Percentage represents the number of deals made.) Recommend Deal Other Food/Bio/Restaurant in 2018 17% 14% Construction 3% Fintech 20 M AgriTech 9% Series B 3% Robotic AT LEAST 3% 61.25M USD PropTech Enterprise Platform 9% 6% 10 M Series B E-Commerce Marketplace Digital Content 11% 9% Travel Tech Reward 6% 6% Marketing Tech 6% 7.7 M

Other: Recruitment, Gaming, Professional Service, Series A Insurtech, Online Service and Retail Note: This report uses only data disclosed to the public. Overview of Startup Funding from 2011-2017: Deal and Value

VALUE (M USD) US$120M US$90M US$60M US$30M US$0M 2011-2012 2013 2014 2015 2016 2017 END OF 2017

25 M ICO 2 M 3.1 M 10.7 M 7 M 17.5 M 16 M

65 M 1 M 1 M 7 M 5.7 M 10 M 15 M

2 M 2.6 M 19 M

Note: This report uses only data disclosed to the public. Techsauce Comments on Ecosystem Activities and Funding Movement

• There is an increase of Thai startups raising funds. However large funds raised are still from entrepreneurs that are expats. Meanwhile there are few startups that are Thai entrepreneurs at the growth stage.

• Thai startups are to raise funds overseas gradually and startups are leaning towards setting up headquarters overseas in order to receive money from foreign countries. Should startups set up their headquarters overseas, they may not be considered Thai startups even if the entrepreneurs are Thai.

• Thailand will start seeing accelerators in specific areas such as AI, Blockchain and Deep Tech like overseas ecosystems.

• Corporates have learnt from their experiences in the past year. They know that accelerators that are generally open to all sectors may not produce appropriate strategic partners. Therefore setting a goal is important in helping set a direction and an appropriate process of accelerators. If corporates still view accelerators as the solution, an importance needs to be given to selecting the right startups and emphasizing on having startups end up really working with organizations.

• In 2019 medium-sized corporates will turn to corporate innovation in order to search for opportunities to work with startups and attract more talent.

• Setting up funds to invest in startups is not necessary for every corporation. There are many methods that corporates can use in order to innovate. It starts with the strengths of each organization.

• There will be more players taking on corporation innovation, but corporates may not continue to rely on big traditional consulting firms due to high costs and the inability of firms to execute in a timely manner. Corporates must search for corporate innovation developers that are ready to execute quickly and are able to be partners at an affordable price.

• Innovation will come from entrepreneurship. Organizations must create a new entrepreneurial culture with new positions that produces capable talent. This has to start with HR prioritizing this movement and being active, along with giving opportunities for middle and upper level staff to have more decision-making power.

• Corporate accelerators in 2018 have discovered it is quite difficult to find startups that are relevant to them. They have gained more knowledge on what types of startups are the best fit for their businesses. Corporates still wishing to have accelerators will need to change how they invest in the programs so that funding is more directly given to support startups. It is also important to have a new objective by taking startups overseas.

• In the past 3-4 years, Series A startups are increasing in numbers while Series B startups still need to raise funds abroad. Most of corporate venture capital firms in Thailand have not been investing in startups at Series B and beyond.

• Startups are currently mainstream as many foreign companies have joined and brought in a variety of businesses. There is now more investment in Series A startups and the numbers of accelerators are increasing. In spite of this, Thai Series B startups are still challenged with getting funding.

• CVCs and VCs will become more professional and standardized. Now CVCs and VCs have more expertise and more concrete standards. There is now a standard of expertise and professionalism that startups need to have.

• VCs are focusing on private investment. Private investment plays a vital role in fostering a strong startup ecosystem. They mostly invest in early-stage startups, mainly in marketplaces.

• The ecology in Southeast Asia is not that big and everything does not support startups automatically. Companies need to make their business opportunities by themselves. Most startups need to reduce causes of errors and create proficient businesses.

• In the next several years, there will be a steady growth of funded startups (not related to quality) while CVCs have started to have more competition.

• We may see more and the VC market will be more competitive, which will boost the number of startups.

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD AN IN-DEPTH LOOK An in-depth look at funding stages such as joint ventures, mergers, and acquisitions of tech companies. THAI STARTUP Merge and Acquired FUNDING STAGE Undisclosed 6% IN 2018 11% Series B 9%

Seed 49% Series A 26%

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Note: This report uses only data disclosed to the public. TECH-BASED Joint Ventures Company Year mPay, JOINT VENTURES Bangkok Smartcard Rabbit Line Pay System Company 2018 IN THAILAND Limited (Rabbit), LINE Kakisorn LINE Company KBANK, LINE 2018

JD Central JD.com, Central Group 2018

10 M Undisclosed

Value (in US Year of Country of Company Founded Industry dollar) Acquisition Acquirer Acquirer 2008 - dtac 2004 Online Payment Provider - 2017 - Omise Thailand

1999 - Mweb 1998 Web Portal 10.5M 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

Value (in US Year of Country of Company Founded Industry dollar) Acquisition Acquirer 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

Value (in US Year of Country of Company Founded Industry dollar) Acquisition Acquirer 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

Internet and Design 1998 Institute 28.68M 2016 Japan

*Rebrand to be WISESIGHT in year 2018

Value (in US Year of Country of Company Founded Industry dollar) Acquisition Acquirer Acquirer

- Social Media undisclosed 2017 South Korea

2001 Ecommerce** undisclosed** 2018** Thailand

Ecommerce undisclosed 2018 Thailand

** Acquired by Rakuten in 2009 and bought back by Tarad in 2016

• Crossing over rounds such as Seed to Series A and from Series A to B remains to be the main obstacle for Thai startups. In order to step up from Series A to Series B, companies need to be able to scale to the regional market. Startups that can do this continue to receive funding, but the number of startups that can do this remains limited.

• CVCs in Thailand focus on investing in startups that are at the Growth stage and above. So those at the Seed level must rely on VCs, which are limited in Thailand and are not as popular as those in the Southeast Asian region.

• During 2019-2020 there will be an opportunity to see many exciting exits from Thai startups as a result of both M&A and IPOs. These exits could be a chance for the talented startup founders to in turn create new things within the ecosystem once again.

THAI TECH STARTUP ECOSYSTEM

THAI TECH STARTUP ECOSYSTEM Venture Builder Association

THAI TECH STARTUP ECOSYSTEM

Name Position Company Industry

Aliza Napartivaumnuay Co-founder SocialGiver Retail THAI TECH Anchana Vallipakorn CEO Baania PropTech Apinara Srikarnchana Co-founder U drink I Drive Transportation

STARTUP Apiradee Sirisomboon CEO Happenn Event ECOSYSTEM Chuencheewan Wongsaeree CEO Globish EdTech Beauty/ Dalad Tantiprasongchai CEO FABbrigade Wellness Darin Suthapong CEO Indie Dish Food

Name Position Company Industry

Kesara Roemcharoen COO Somjai PropTech THAI TECH Lalin Ananbanchachai COO EXZY Digital Content STARTUP Nattanich Thongkraisaen CEO Eventbanana Marketplace ECOSYSTEM Nattaporn Suchartkullawit CMO DooTV Digital Content Nattida Sanguansin MD Buzzebees Reward

Netita Taechathanasiri Kesara Roemcharoen CEO, COO, Phruthiphon Khoosuwan Somjai PropTech Pharcharaphan Anapreechakum CMO,CTO

Name Position Company Industry

Pornthip Kongchun COO Jitta FinTech

Sakunee Niranvichaiya CEO Chiiwii HealthTech THAI TECH former Orami Group's CMO Shannon Kalayanamitr Current: Venture Partner Orami Ecommerce of Gobi STARTUP Sirasom Borisutsuwan CEO U drink I Drive Transportation

ECOSYSTEM Suchada Taechotirote CEO FavStay Travel

Supichaya Surapunthu CEO Piggipo FinTech

Suvita Charanwong CEO Tellscore MarTech

Name Position Company Industry

Thanyatorn Thitiseranee COO DriveMate Car Sharing THAI TECH Thiraya Thiranakanat CEO CareerVisa EdTech Thisana Thitisakdiskul CEO Noburo FinTech

STARTUP Thitinart Nganwongpanich CEO Wear and Share Fashion

ECOSYSTEM Wachira Kimhasawad COO OneStockHome PropTech

THAI TECH Andre Hoffmann Chintaka Ranatunga Ittipat Peeradechapan STARTUP Andre Vranjes Chualapayap Srikarnchana Jakob Lykkegaard ECOSYSTEM Chang Ng Eduardo Saverin Jonathan Price

Chatchaval Jiaravanon Hirokazu Mashita Khailee Ng

Khailee Ng Mike Prasad Piyaphan Wongyara THAI TECH F Ravi Agarwal STARTUP ken Sakakibara Natavudh Pungcharoenpong

ECOSYSTEM Samer Karum Koh Boon Hwee Paul Pattarapon

Kris Nalumlien Pawoot Pongvitayapanu Sommaphat Traisorat

Songphon Chaovanayothin Tiwa York THAI TECH Watchara Kaewsawang

Supachai Kanjanasakchai Toivo Annus STARTUP William E Heincke ECOSYSTEM Sven Ernst Tommy Chia Worawoot Ounjai

Takeshi Ebihara Vinnie Lauria

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD APPENDIX: FUND RAISING IN ANNUAL 2011-2018 Startup Industry Amount FUNDING RAISED IN 2011,2012 Fintech 1M USD AT LEAST $3.104 M Digital Content 2M USD Crowdfunding 104K USD

E-logistics 3.1M USD

Crowdfunding 400K USD

Social Media Analytics 1M USD

E-logistics 160K USD

Crowdfunding 335K USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED IN 2013 Insurance Undisclosed AT LEAST $9.733 M Recruitment 100K USD Construction 400K USD 350K USD B2B Platform (Mar: $150k, Nov $200 Hotel 1.16M USD

Food and Restaurant 500K USD

Gaming Undisclosed

Payment 300K USD

Payment 2M USD

Hardware 112K USD

EdTech 620K USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Digital Content 7M USD IN 2014 Insurance Undisclosed AT LEAST $42.716 M Travel 10M USD FinTech 70K USD FinTech 20K USD B2B Platform 1M USD B2B Platform 770K USD Hotel 620K USD Hotel 4.5M USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Payment 10.7M USD IN 2014 Payment 20K USD AT LEAST $42.716 M E-commerce/Marketplace 1.6M USD E-commerce/Marketplace 1.5M USD 640K USD E-commerce/Marketplace (Jun: 220K, Jul: 100K, Aug: 320K) 529K USD E-commerce/Marketplace (Mar: $109K + Dec: $420k) E-commerce/Marketplace 25K USD E-commerce/Marketplace 15K USD Messaging Undisclosed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED 2.6M USD Payment +Undisclosed IN 2015 Payment 20K USD AT LEAST $36.295 M 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

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED B2B Platform 1.8M USD IN 2015 FinTech Undisclosed AT LEAST $36.295 M FinTech Undisclosed FinTech Undisclosed Insurance 2M USD Recruitment 125K USD Game 5M USD Game 750K USD Travel Undisclosed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Food and Restaurant Undisclosed IN 2015 Hardware Undisclosed AT LEAST $36.295 M 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 HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED 15M USD E-commerce/Marketplace HQ is in IND IN 2016 E-commerce/Marketplace 11M USD AT LEAST $78.17 M Undisclosed E-commerce/Marketplace 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

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Food and Restaurant Series-B IN 2016 Food and Restaurant Series-B AT LEAST $78.17 M Food and Restaurant Undisclosed FinTech Undisclosed FinTech Undisclosed Payment Pre-Series A Payment 17.5M USD Ticket system Undisclosed (VN) Ticket system 500K USD

Logistic Undisclosed Undisclosed MarTech (Social nation) Reward 300K USD

HealthTech Undisclosed

EdTech 500K USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED 25M USD in ICO Payment & series B IN 2017 Payment Series A AT LEAST $106.1 M (*excl ICO) Payment Series A FinTech 3.2M USD FinTech 1.5M USD FinTech 1.15M USD E-commerce/Marketplace 19M USD Undisclosed E-commerce/Marketplace Seed Undisclosed E-commerce/Marketplace Seed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Undisclosed E-commerce/Marketplace Seed IN 2017 E-commerce/Marketplace Undisclosed AT LEAST $106.1 M Seed (*excl ICO) Logistic 65M USD Logistic 1.65M USD Hotel/Travel 1.5M USD Undisclosed Hotel/Travel Seed Undisclosed Hotel/Travel Seed Undisclosed Reward Seed Undisclosed Food&Restaurant Seed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Undisclosed Food&Restaurant Seed IN 2017 Food&Restaurant Undisclosed AT LEAST $106.1 M Seed Undisclosed (*excl ICO) AgriTech Seed Undisclosed HealthTech Seed Undisclosed Crowdfunction Seed Retail 150K USD 7.4M USD MarTech Series A Undisclosed Recruitment Series A Recruitment 3.6M USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED EdTech Undisclosed IN 2017 Ticket Undisclosed AT LEAST $106.1 M Undisclosed (*excl ICO) PropTech Seed PropTech 300K USD Undisclosed Car Sharing Seed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Enterprise Platform 20M USD IN 2018 Enterprise Platform Undisclosed AT LEAST $61.25 M 10M USD (*excl ICO) Food / Bio and Restaurant Pre-Series C Food / Bio and Restaurant 1M USD Food / Bio and Restaurant Undisclosed Food / Bio and Restaurant Undisclosed Food / Bio and Restaurant Undisclosed 7.7M USD Online Printing Series A Insurance 7M USD

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED 3M USD Travel Series A IN 2018 Travel Undisclosed AT LEAST $61.25 M 3M USD (*excl ICO) MarTech Series A MarTech Undisclosed 1.85M USD AgriTech Seed 1.6M USD Loyalty/Reward Series A Undisclosed Loyalty/Reward Seed 300K USD FinTech Seed Undisclosed FinTech Seed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Startup Industry Amount FUNDING RAISED Undisclosed Fintech Series-A IN 2018 Digital Content ICO AT LEAST $61.25 M Undisclosed (*excl ICO) Digital Content Pre-Series C Undisclosed Digital Content Seed 400K USD PropTech Seed PropTech Undisclosed PropTech Undisclosed Undisclosed Construction Pre-Series B Recruitment Undisclosed

IN 2018 E-commerce / Marketplace 4.8M USD AT LEAST $61.25 M SeriesA Undisclosed (*excl ICO) E-commerce / Marketplace SeriesA 0.6 M USD E-commerce / Marketplace Pre-Series A Undisclosed E-commerce / Marketplace Seed Undisclosed Gaming Seed Drone & Robotic Undisclosed Undisclosed Professional Service Seed

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD APPENDIX: INVESTMENT FUNDS RAISED IN 2012-2018 INVESTMENT Investor Amount Year FUNDS RAISED 7 M 2012 (Annually to 2018) IN 2012-2018 (Pt.1) Undisclosed 2012 AT LEAST $ 414.91 M Undisclosed 2012 25 M 2013 Undisclosed 2013 Undisclosed 2013 12.7 M 2014 Undisclosed 2014 Undisclosed 2014

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD INVESTMENT Investor Amount Year FUNDS RAISED 10 M 2015 IN 2012-2018 (Pt.2) 9.3 M 2015 AT LEAST $ 414.91 M 10 M 2015 50 M 2016 14.65 M 2016 (Annually to 2018) Undisclosed 2016 45 M 2017 Undisclosed 2017 Undisclosed 2017

HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD INVESTMENT Investor Amount Year FUNDS RAISED 30 M 2017 IN 2012-2018 (Pt.3) Undisclosed 2017 AT LEAST $ 414.91 M Undisclosed 2017 30 M 2017 Undisclosed 2017 19.96 M 2017 45 M 2017 4.3 M 2017 Undisclosed 2017

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors undisclosed undisclosed Alpha Founders (S), Ask Hanuman - undisclosed 2013 Acquired by Rabbit (Seed) (Exit) Internet $1 M undisclosed InVent Capital (A), Computerlogy $1 M undisclosed 2009 Acquired by Yello (Series A) (Exit) Digital Marketing $1.59 M Acquired by Meb (Exit) - $1.59 M 2013 Officemate Acquired by Whats undisclosed New Group , then M&A Moxy - undisclosed 2013 with Bilna (rebranded (Exit) to be Orami) Andrew Vranjes (S), $400 K undisclosed Chintaka Ranatunga (S), Noonswoon - undisclosed 2013 Golden Gate Ventures (S) (Seed) (Exit) Acquired by DateTix $14.4 M Acquired by iCar One2car (Exit) - undisclosed 2002 Asia undisclosed Paysbuy (Exit) - undisclosed Acquired by Omise undisclosed Acquired by Storylog (Exit) - undisclosed 2014 Ookbee undisclosed Acquired by Thoth OBVOC (Exit) - undisclosed Zocial undisclosed DGM39 (Exit) - undisclosed Acquired by LINE

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors undisclosed Acquired by Tarad (Exit) - undisclosed TSpace Digital undisclosed Sellsuki (Exit) - undisclosed Acquired by LINE

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors

Ardent Capital (S&A & A2), Asia PacificCapital(A), CyberAgent Ventures (S & A), Sinar Mas (A &A2), $10 M Inspire Ventures (A&A2), $3.1 M $10.7 M $5 M $65 M NTT Docomo (S & A), JL Capital (A), aCommerce $93.8 M undisclosed 2013 Sumitomo Corporation Equity Asia (A), (Series A) Bluesky Venture(A4,B), (Seed) (Series A) (Series A) (Series B) DKSH(A3,A,4,B) Emerald Media (B) MDI Ventures (A4,B)

$1 M $2 M $7 M DMP (A), 2C2P $10 M undisclosed 2003 GMO Ventures (B &C), (Series A) (Series B) (Series C) Amun Capital (C)

500 Startups (S), Tigerlabs (S), Wavemaker Labs (S), $1 M $5,7 M $2 M $20 M Gobi Partner (A,A2,B) Eko $28.7 M undisclosed 2012 ITOCHU (A2) (Series B) SMDV (B) (Series A) (Series A) (Series A) RedBeat Venture (AirAsia) (B) East Ventures (B) Undisclosed Invent (A), $2 M $7 M $19 M IT Works (1999), Transcosmos (B1) Ookbee (Pre- $28 M undisclosed TenCent (B2) (Series A) (Series B) (Series B) Ookbee 2011 Beacon VC (Preseries- Series C) C)

$5 M Playlab (Series B) $5 M undisclosed 2012 Monk’s Hill Ventures (B)

DMP VC (A), Starttoday (B1),Sebrina Holdings undisclosed undisclosed (B2) WearYouWant Close Close $ 1.5M + undisclosed 2011 IMJ (A), Julien Chalte (Series B) (Series B) (A),Kimura Shinji (B1), Opt SEA (A,B1)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors

East Ventures (S &A), Undisclosed of 500Startups (A) $ 23.1M+ 500TukTuks (A), (Series B+) SMDV (A,B), $3 K $2.6 M $17.5 M Ascend Capital (A,B), Omise & undisclosed 2013 Golden Gate Ventures (A,B) (Seed) (Series A) (Series B) and SBI Investment (B) $25M (ICO) Ittipat Peeradechapan (S), $25 M in ICO Krungsri (B+) Jungle Ventures (S,A), 500 Startups (S,A), Fenox Venture Capital (S &S2), QueensBridge Venture Partners (S), Tovio Annus (S) $1.6 M Undisclosed $11 M $19 M Jonathan Price (A) Andre Hoffmann (A) Pomelo $ 31.6 M+ undisclosed 2013 JD.com (B) (Seed) (Series A) (Series A) (Series B) Provident Capital Partners (B) Lombard Private Equity (B) Central Group (B) Start Today Ventures (B) Recruit Undisclosed Undisclosed Strategic Wongnai (Series A) (Series A) - undisclosed 2012 Partners (A) Invent (B) CyberAgent Undisclosed $7 M Undisclosed Ventures (A) Priceza (Series A) (Series B) (Series B) - undisclosed 2010 Hubert Burda Media (B) Undisclosed $15.5 M $10 M TripAdvisor Eatigo (Series B) (Series B) (Series B) $25.5 M+ undisclosed 2013 (B1,B2)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Project Planning $400 K Undisclosed Undisclosed Service PLC (S), Builk undisclosed undisclosed 2009 Pawoot (Seed) (Seed) (Series A) millconsteel, AddVentures (Pre-B) $5 M Undisclosed Buzzebees (Series A) (Seed) $5M undisclosed - undisclosed

NVestVenture $300 K $1.6M (SMEs Private Chococard $1.9 M undisclosed - Equity Trust Fund (Seed) (Series A) by GSB), InVent (A)

Cyber Agent Venture (A), 500 Startups (S&A), Golden Gate Ventures (S&A), Mike Undisclosed $2 M Prasad (S), Takeshi Ebihara (Rebright Partners) (S), Samer Karam (S), Claim Di $2 M+ undisclosed 2000 T(ommy Chia (Super Aces Ventures) (Seed) (Series A) (S), Ravi Agarwal (engageSpark). (S), dtac Accelerate (A), Double A (A) 500Startups (S) , Undisclosed Undisclosed 500Tuktuks (S) , Deep Pocket undisclosed undisclosed - Benchachinda (T2P) (Seed) (Series A) Group (S), J Venture (A) Undisclosed Digio Eatigo Eatigo Eatigo Eatigo Eatigo Eatigo (Series A) Eatigo undisclosed undisclosed - InVent (A)

KK Fund (S), Opt $500 K Undisclosed SEA(S), Hirokazu Eventpop $ 500 K+ undisclosed 2015 Mashita(S), Ittipat (Seed) (Series A) Peeradechapan (S), InVent (A), Beacon (A)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors

500TukTuks (S1,S2,A), dtac (pre-S),CyberAgent $155K $550K $4.8M Ventures (S2), LINE Fastwork $5.5M undisclosed 2016 Ventures (A),Gobi Partners (A), Partech (A), Vickers (Seed) (Seed) (Series A) Venture Partners (A) 500TukTuks FavStay $2.9 M $2.9 M undisclosed - (A), Dusit (Series A) Thani (A) Krungsri (A), Undisclosed $3.2M Benchachinda (A) Finnomena $ 3.2 M+ undisclosed 2016 500TukTuks (Seed) (Series A) (S,A),dtac(pre-S)

500 Startups(S2), CyberAgent Ventures(S), Axis Capital Partners (A), Wellesleys (A), $125 K $500 K Undisclosed Undisclosed Alibaba Entrepreneurs Fund Getlinks $625 K+ undisclosed 2015 (Pre-series B) ,SEEK,Falcon (Seed) (Seed) (Series A) (Series A) Partners VC (Pre-series B) , AddVentures (Pre-series B) AddVentures (A), Undisclosed $ 1.65 M WaveMaker (A), Giztix $ 1.65 M+ undisclosed 2015 KKfund (S), (Seed) (Series A) 500Tuktuks(S,A), dtac (pre-S) OPG (Online Gogoprint Eatigo Eatigo Eatigo Eatigo Eatigo Eatigo $ 7.7 M $ 7.7 M undisclosed 2015 Printing (Series A) Group) (A) Undisclosed Undisclosed 500TukTuks GoWabi (Seed) (Series A) - undisclosed 2015 (S,A)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Boon Hwee Koh (A), HotelQuickly $1.16 M $1.16 M $5.66 M undisclosed 2012 GREE (A2), (Series A) (Series A) William E. Heinecke (A)a SoftBank Ini3 Undisclosed undisclosed undisclosed - Ventures (Series A) Korea Undisclosed iTech Capital JetRadar (Series A) $10 M undisclosed 2009 (A) DMP(A), Hubert $2.5 M Burda Media(A), Medical $ 2.5 M undisclosed 2014 CyberAgent Depatures (Series A) Ventures(A), OPT SEA(A) Sinar Mas Digital Ventures (SMDV), Gobi $15 M $15 M Partners, Facebook Orami $ 30 M undisclosed 2016 Co-founder, Ardent (Series A) (Series A) Capital, Velos Partners Adrian Vanzyl (S1), Ardent Capital (S2), Khailee Ng (S3), $23 K $350 K $770 K $1.8 M 500 Startups (S3 & A), Playbasis Eatigo Eatigo $2.943 M undisclosed 2012 Axis Capital Corp (S3), (Seed) (Seed) (Seed) (Series A) Cherubic Ventures (S3 & A), InVent (A) IFC $ 7M (International Roojai (Series A) $7M undisclosed 2016 finance corporation)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors DMP(A), Hubert Burda Media(A), Sendit Undisclosed $ 2.5 M undisclosed 2014 CyberAgent (Series A) Ventures(A), OPT SEA(A) Golden Gate Undisclosed Ventures (A), Stamp (Series A) undisclosed undisclosed 2015 Altpoint Ventures (A) 500TukTuks (S,A), KingPower Click (A), , Undisclosed $ 3 M SMEs Private Equity Tourkrub $ 4.02 M undisclosed 2014 Trust Fund by GSB via (Seed) (Series A) Premier Advisory Group (A), Sommaphat $420 K $ 3.6 M Traisorat (S) Work Venture (Seed) (Series A) $ 2.5 M undisclosed 2014 undisclosed for Series A InVent (A), nvestventures (A), $3 M (Series Premier Advisory YDM Thailand $ 3 M undisclosed - Group (SMEs Private A) Equity Trust Fund by GSB and SET) $7.4 M ShiftVentures Zanroo Eatigo Eatigo (Series A) $ 7.4 M undisclosed - (A)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Kentaro $104.29 K Sakakibara (S), Anipipo (Seed) $104.29 K undisclosed 2011 Samurai Incubate (S) Unlimited $500 K Undisclosed Undisclosed Capital (S) Apply Sphere (Seed) (Seed) (Seed) $500 K+ undisclosed 2013 SiriVentures (S2) Undisclosed 500 TukTuks Asiola (Seed) - undisclosed - (S)

500 TukTuks (S), Undisclosed Krungsri Finnovate Baania - undisclosed - (S), AddVentures (Seed) (S), PTT (S) 500 Startups $300 K (S), DeNA (S), Blisby (Seed) $300 K undisclosed 2013 East Ventures (S) Undisclosed Bitkub (Seed) - undisclosed 2016 dtac (Pre-A)

$300 K East Buzzcommerce Eatigo (Seed) Eatigo - undisclosed 2014 Ventures (S)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Pawoot Pongpitayapanu (S) Cloud Undisclosed Undisclosed 500Tuktuks (S), Intania - undisclosed 2016 Open Innovation Club Commerce (Seed) (Seed) (IOIC) (S), dtac accelerate (S) Undisclosed 500Tuktuk Chomchob (Seed) - undisclosed - (S)

Undisclosed 500Tuktuk Cookly (Seed) - undisclosed 2015 (S)

500TukTuks (S),Next Undisclosed Tech (S), SOLERA DealCha - undisclosed 2015 Investment (S), (Seed) Robert Lomnitz (S)

500TukTuks (S), DeepSpark Undisclosed - undisclosed 2018 Chanwanich(S), (Seed) JVenture (S) Ardent Capital Deliveree Undisclosed - undisclosed 2015 (S), Inspire (Seed) VEntures (S) Crowdfunde Drivebot Eatigo Undisclosed Eatigo $ 112 K undisclosed 2013 d via (Seed) Indiegogo

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Origin, Digital Butler Undisclosed - undisclosed - Kasikorn Bank Undisclosed 500TukTuks DriveMate (Seed) - undisclosed 2016 (S), dtac (S)

Undisclosed 500TukTuks Energaia (Seed) - undisclosed 2009 (S)

Event Undisclosed East Carnival (Seed) - undisclosed 2014 Ventures (S)

500TukTuks (S,S2), Event Undisclosed $ 0.65M Expara (SMEs Private - undisclosed - Equity Trust Fund by Banana (Seed) (Seed) GSB and SET) (S2), JASPAL Group (S2) $ 30K $ 45K $ 45K $300K FindYourSpace (Seed) (Seed) (Seed) (Seed) $ 420 K undisclosed 2014 Re A Pra (S)

Iyara VC (S1), Undisclosed $300 K Undisclosed Three undisclosed Fixzy Eatigo $ 300K + undisclosed 2015 angels (Seed) (Seed) (Seed) (S2),SCassest (S3)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors 500TukTuks Freshket Undisclosed - undisclosed 2016 (S), dtac (Seed) (pre-S)

$1 M FoodStory (Seed) $ 1M undisclosed 2012 Wongnai (S)

Undisclosed 500TukTuks Ginja (Seed) - undisclosed - (S)

$700 K InVent GolfDigg (Seed) $700 K $2.8 M 2013 Capital (S)

Add HG Robotics Undisclosed - undisclosed 2016 Ventures by (Seed) SCG

Undisclosed Hola Eatigo (Seed) - undisclosed 2013 undisclosed

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors dtac (pre-S) Undisclosed Muangthai Healthathome (Seed) - undisclosed 2015 Insurance (S) 500Tuktuks (S) 500 Startups(S), $350 K 500 TuksTuks(S), HUBBA $350 K undisclosed 2012 Ardent Capital (S) (Seed) Golden Gate Ventures (S) 8capital Partners (S), $335 K Chang Ng (S), Hipflat $335 K undisclosed 2012 Crystal horse (Seed) Investments (S), Kris Nalamlieng (S) dtac (pre-S), IndieDish Undisclosed - undisclosed - 500Tuktuk (Seed) (S) Infinity $500 K InVent Levels (Seed) $500 K undisclosed 2013 Capital (S)

Undisclosed 500Tuktuk instawash (Seed) - undisclosed - (S)

Natavudh $100 K Pungcharoenpong Jobtalents Eatigo $100 K undisclosed 2013 (S), Sangboon (Seed) Sangmanee (S), Polapat Udomphol (S)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors $500 K Jubjai (Seed) $500 K undisclosed - -

Undisclosed 500Tuktuk JuiceInnov8 (Seed) - undisclosed 2014 (S)

Undisclosed 500Tuktuk Kinkao (Seed) - undisclosed (S)

Quan (S), Natavudh Pungcharoenpong Magic Box $300 K (S), $300 K $3,358,338 2013 Pawoot Pongpitayapanu (S), Suphachai Kanjanasakchai Asia (Seed) (S), East Ventures (S) Meditech $160 K Solution (Seed) $160 K $562 K 2009 InVent (S)

Kejora (S), K2Venture (S) $1.5M Undisclosed Chualapayap MoneyTable $ 1.5 M undisclosed - Srikarnchana (S) (Seed) (Seed) Chatchaval Jiaravanon (S) $150K Undisclosed Worawoot Nasket Eatigo (Seed) (Seed) $150K+ undisclosed - ounjai

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Undisclosed 500TukTuks OneStockHome (Seed) - undisclosed 2009 (S)

Undisclosed SiriVentures OnionShack (Seed) - undisclosed - (S) Galaxy Undisclosed Undisclosed Ventures (S2), Page 365 (Seed) (Seed) - undisclosed 2012 Inspire Ventures (S) 500 TukTuks Panya Studio Undisclosed - $3,358,338 2018 (S), Santora (Seed) Nakama (S) True Incube (S), $20 K $300 K M8VC (S), Expara Peak $320 K $562 K 2014 (SMEs Private (Seed) (Seed) Equity Trust Fund by GSB and SET) Undisclosed 500Tuktuk PenguinT (Seed) - undisclosed - (S)

Ookbee (S), dtac (S), $70 K Undisclosed 500TukTuks (S), Piggipo Eatigo $70 K+ undisclosed 2013 GoldenGate Venture (Seed) (Seed) (S)

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors

muru-D (S), PlanforFit Undisclosed - undisclosed - RCL (Seed) Accelerator (S)

dtac (pre-S) Bill & Melinda Gates $ 600K $1.85 Foundation (S,S2), Ricult $2.45 M undisclosed 2016 Chanwanich Group (S2), (Seed) (Seed) Wavemaker (S2), 500Tuktuks (S2) Digital Ventures Undisclosed (S) Seekster (Seed) undisclosed undisclosed - dtac (S) 500 TukTuks (S) Metaliq Growth Undisclosed Undisclosed Partners (S) Skilllane - undisclosed 2014 Ittipat (Seed) (Seed) Peeradechapan (S2) 500Tuktuk (S1)

InVent (S), BDMI (S), Danhua Capital (S), Greycroft Partner (S), Index $500K Undisclosed Ventures (S), Suisse Capital Social Nation $ 500 K + undisclosed 2014 Global Management, Virtual (Seed) (Seed) Reality Investments (S), Wonder Ventures (S)

500 TukTuks (S2), CyberAgent Ventures (S2), $25 K $500 K Expara IDM Ventures (S2), STYLHUNT $525 K undisclosed 2014 Singapore Angel Network (Seed) (Seed) (S2), JFDI.Asia (S1) Paul Pattarapon Sinlapajan

Total Startups 2011 2012 2013 2014 2015 2016 2017 2018 raised Valuation Founded Investors Pawoot Tellscore Undisclosed - undisclosed - Pongvitaya (Seed) panu (S) Undisclosed VVR Asia (Seed) - undisclosed - Invent (S)

$400 K Zmyhome (Seed) $400 K undisclosed - KKfund (S)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Playbasis (S3 &A),Pomelo (S) Taamkru (S), HUBBA (S), 500 Startups 6 3 3 12 Blisby(S), ClaimDi (S,A),Eko (S), Yogatrail (S), Omise (A), getlinks(S), Deep Pocket (S)

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), 500 TukTuks 10 12 16 12 51 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)

8capital Partners 1 1 Hipflat (S)

Giztix (A), Baania (S), Builk (Pre-B) , Getlinks (Pre-Series AddVentures 2 2 4 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)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Amun Capital 1 1 2C2P (C)

Playbasis (S2 &S3), Whats New Asia (S), Deliveree (S), Ardent Capital 1 2 2 1 6 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)

Flow account (S2), Eventpop (A), Ookbee (C), Grab* (H), Beacon VC 2 3 5 Instarem* (C) *Intl Startup

Benchachinda Group 1 1 2 Deep Pocket (S), Finnomena (A)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 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) aCommerce (S &A), Priceza (A), StockRadars (S), CyberAgent Ventures 2 1 2 2 1 8 Medical Departures (A), ClaimDi (A), getlinks(S), Fastwork (S2)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

DeNA 1 1 Blisby (S)

Digital Media Partners (DMP) 1 1 1 1 4 2C2P (A) WearYouWant (A) & (B), Medical Departures (A) Ripple*, Pulse ID*, IndoorAtlas*, Paykey*, Digital Ventures 1 4 2 7 1Qbit*,Pagaya*, Seekster (S) * Not Thai companies

DKSH 1 1 1 3 aCommence (A3,A4,B)

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 dtac 1 4 6 11 12 12 46 (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)

Dusit Thani 1 1 FavStay(A)

Emerald Media 1 1 aCommerce (B)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Expara Ventures 1 2 3 Stylhunt (S), Peak (S)*,Eventbanana (S2)*

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)

Noonswoon (S), HUBBA (S), ClaimDi (S,A), Golden Gate Ventures 1 1 4 1 1 8 Omise (A,B), Stamp (A), Piggipo (S), Flowaccount (S2)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

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)

Ookbee (A), Meditech (S),Computerlogy (A), Golfdigg (S), Infinity Levels (S), Sinoze (S),Playbasis (A), ShopSpot (S), Wongnai (B), InVent 1 2 1 3 3 3 3 16 Social Nation (S), Digio (A), Shopback* (A), Eventpop (A), YDM Thailand (A), Chococard (A), VVR (S) *SG startup iProperty Group 1 1 ThinkofLiving (Acquisition)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

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)

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)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

K2Ventures 1 1 Money Table (S)

Kejora 1 1 Money Table (S)

Krungsri Finnovate 3 3 Finnomena (A), Omise (B+), Baania (S)

KKFund 2 1 3 Eventpop(S), Giztix (S), ZmyHome (S)

LINE Ventures 1 1 Fastwork (A)

Lombard Private Equity 1 1 Pomelo (B)

M8VC 1 1 Peak (S)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Muangthai Insurance (S) 1 1 HealthatHome (S)

M&S Partners 1 1 Taamkru (S)

MDI Ventures 1 1 2 aCommerce (A4,B)

Metaliq Growth Partners 1 1 SkillLane (S)

Millconstell 1 1 Builk

Monk’s Hill Venture 1 1 Playlab (B)

Muru-D 1 1 Planforfit (S)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

NTT Docomo Ventures 1 1 2 aCommerce (S &A)

Next Tech 1 1 DealCha (S)

NVestVenture 2 2 Chococard (S)*, YDM Thailand * (A)

Ookbee 3 3 Taamkru (S), Piggipo (S), Ticketbox

OPG 1 1 Gogoprint (A)

WearYouWant (A) & (B1), Eventpop(S),Medical Departures OPT SEA 1 1 2 4 (A)

Partech 1 1 Fastwork (A)

Premier Advisory Group 1 1 YDM Thailand*

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Priceza 1 1 Primecapture (S)

Project Planning Service (PPS) 1 1 Builk (S) Provident Capital Partners 1 1 Pomelo (B)

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)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies Recruit Strategic Partners 1 Wongnai (A) Redbeat Ventures (AirAsia) 1 1 Eko (B) Standard International, Hi-End, One Night, Sansiri 6 6 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)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

ShiftVenture 1 1 Zanroo(A)

Farm shelf*, Neuron Mobility*,Techmetics*,Semtive*,astralink*, Onionshack, Appy SiriVentures 3 3 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) Sumitomo Equity Corporation Asia 1 1 aCommerce (A) Tencent Holdings 1 1 Ookbee (C)

Startups 2011 2012 2013 2014 2015 2016 2017 2018 Total deal Portfolio companies

Tigerlabs 1 Eko (S)

Transcosmos 1 Ookbee (B)

TripAdvisor 1 1 2 Eatigo (B1, B2)

True Incube 2 1 3 Sellsuki (S), Peak (S)

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)

Wellesleys 1 1 Getlink (A)

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