Thai Foundation "500 Startups" increased to $ 15 million

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The 500 TukTuks or 500 Startups Fund in Thailand has been increased from the $ 10 million in launch to $ 15.4 million.

Headed by Krating Poonpol and Natavudh Moo Pungcharoenpong, the fund has generated massive interest from high net worth individuals and corporate investors, which has led to an increase in its size.

With a large amount of capital, “500 TukTuks” is gaining momentum more and more. “Our investment portfolio has grown to 30 projects, which we believe gives it the status of the most active fund in Thailand and Southeast Asia,” said Krating.

Of these 30 projects, 10 have already received appropriate funding or will receive it in the next financial period.

“500 TukTuks”, named after Thailand’s famous motorcycle taxis, is likely to invest in over 30 startups, “he adds.

While the country is often inferior to its more advanced and more populous neighbors Singapore and Indonesia, Thailand’s infrastructure is booming. A number of startups, such as digital entertainment store Ookbee, have garnered particular investor attention. Ookbee recently formed a joint venture with Tencent, one of China’s largest tech companies, and manufacturer WeChat.

More money

Next year, the second stage of the 500 TukTuks fund will be launched, which will focus on investment projects of Thai startups from the A series.

According to Krating, “Our next trust fund will be more than $ 20 million,” given the pace of infrastructure development in Southeast Asia.

In addition to the “500 TukTuks” for Thailand, there is also a startup fund for all of Southeast Asia called “500 Durians”. One microphone for Vietnam has been created and another will soon be launched in the Philippines.

At the same time, 500 TukTuks presented a third group of 10 investment projects, which received combined funding of $ 2 million for the following projects:

  • fashion store “Pomelo”;
  • financial solutions company FinAccel, which provides online instant consumer loans and borrowings;
  • FavStay weekend booking site;
  • Tourkrub, comprehensive travel services;
  • TrustingSocial, an emerging market credit rating information service that analyzes data from telecommunications companies and lenders;
  • animal care service “PerroPack” (Perropet, Perrobox, Perromart)
  • a tool for the development, training and interaction of personnel “Gnowbe”;
  • competitive crowdfunding platform “Asiola”;
  • Cookly, a booking system for culinary events and tourism;
  • marketplace and fresh food restaurant “Freshket”.

Source: https://www.techinasia.com