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TS Startup Report Master 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. techsauce.co TechsauceTH [email protected] 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 HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD INDUSTRY HIGHLIGHT 2018-2019 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Techsauce Comments on Thailand Startup Ecosystem Overview • 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Techsauce Comments on Thailand Startup Ecosystem Overview • 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Techsauce Comments on Thailand Startup Ecosystem Overview • 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Contributor Comments on Thailand Startup Ecosystem Overview • 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. HTTP://TECHSAUCE.CO COPYRIGHT 2018 TECHSAUCE CO.,LTD Contributor Comments on Thailand Startup Ecosystem Overview • 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.
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