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Thailand Tech Startup Ecosystem Report 2018

The announcement Eko closing a $20 million Series B funding was the biggest startup deal in Thailand at the end of the year

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After finishing off 2018, Techsauce has summarized the leading trends in Thailand’s ecosystem in the Thailand Tech Startup Ecosystem 2018. 

This report is part of the publications Techsauce releases every 6 months.  However this latest report not only summarizes the latest trends in 2018, but for the first time, includes analysis and thoughts from the Techsauce team. 

This includes contributors who are veterans in various industries.  This is to give readers insight on what is happening and what is behind the various trends.    

The biggest trends for the second half of 2018 summarized in the report are as follows: 

  • There was more fundraising for startups in Thailand in 2018 than in the year before.  The industry that attracted the most funding was FoodTech.  As for CVC, 2018 was a year that saw high investment in startups overseas.  
  • The announcement Eko closing a $20 million Series B funding was the biggest startup deal in Thailand at the end of the year. 
  • It was a year where there were interesting moves made by Kasikorn Bank with its joint venture with Line and its investment in startups such as Grab and Instalem through…

Thailand Tech Startup Ecosystem Report 2018

TS Startup Report Master – Edit for web publish 1Feb19

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Techsauce is the partnership of two titans in the Thai technology startup industry between Thumbsup, the leading technology media in Thailand and HUBBA, the biggest coworking space network in Thailand.

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Business

Understanding Asia’s fast-moving digital ecosystem

in 2017, Asia saw 319 million new mobile connections, compared with just 5 million new mobile connections in Europe over the same time period.

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The digital future of Asia is already here. In China, millions of people enter public transportation each day using their smartphones, emerge and pay for their breakfast with WeChat, and use an app to have their lunch delivered a few hours later.

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Ecommerce

Thai e-Commerce Shoots up to 3.2 trillion baht in 2018

Thai e-Commerce grew the most in ASEAN, with a value of 3.2 trillion baht in 2018

Olivier Languepin

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The Ministry of Digital Economy and Society (DE) revealed that Thai e-Commerce grew the most in ASEAN with changes in consumer behaviour in 2018, estimating that the value would shoot up to 3.2 trillion baht.

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Companies

Alibaba and WHA Corporation Plc jointly invest in EEC e-commerce project

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WHA invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.

The Thai Minister of Industry, Uttama Savanayana, stated that the Chinese e-commerce giant Alibaba and the Thai distribution and industry company, WHA Corporation Plc, have made joint investment plans.

WHA is registered in the Stock Exchange Thailand (SET) and recently obtained permission from the development committee for the Easter Economic Corridor (EEC) in Thailand to establish a special e-commerce district.

In concrete terms, WHA purchased an area of 371.2 thousand square meter in Bang Pakong, Chachoengsao, for their special e-commerce district.

WHA also invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.

“These two companies have become partners in the e-commerce district project of Chachoengsao. Apart from the company presence on the ground, this project also supports the national distribution system and online trade services.”


Thai Minister of Industry, Uttama Savanayana

“Alibaba plans to construct a distribution center and provide services to the e-commerce market in Southeast Asia,” said Mr. Uttama.

This is according to Mr. Uttama who added that the government encouraged this innovative project to lift the level of technology to new heights. At the same time, Alibaba seeks to invest more in Thailand and expand its business in Southeast Asia.

“The special e-commerce district includes a research and development center, and a development center for small and medium companies.”


Thai Minister of Industry, Uttama Savanayana

He further stated that Alibaba hopes to link the small and medium companies in this area into a supply chain that delivers products for their e-commerce market.

They also hope to attract more Chinese companies to invest in Thailand.

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