Thailand’s startup ecosystem has seen various ups and downs in the past few years, but one look at figures revealed by news portal Techsauce will leave you astonished! In last four years, the wonder nation has seen 29 times growth of tech investments. Mind-boggling, isn’t it?
The report published on the portal consists of data collected since 2012. The report has some shocking revelations for the startup enthusiasts. In 2012 there were only three funded startups, and only one VC & corporation and two angel investors active in the country. Fast forward three years, figures increased to 59 funded startups, 56 VC & corporation and 30 angel investors in 2015. And as per the data the numbers have further augmented, there are 72 funded startups, 60 VC & corporation, 30 angel investors and eight exits have been witnessed till date. There were none in 2012.
The total disclosed funding in 2016 reached US$108 million (with the record held by Orami at US$15 million, though it is also important to note than most funding rounds in 2016 were undisclosed), compared to 2015 number of US$89 million and 2014 number of US$55 million.
The report approximated M&A activities in the country more than US$150 million, but only US$37 million of it are disclosed. 500 Startups and 500 Tuktuks scored top position as the most active investor in Thailand with 31 transactions, followed by InVent with nine deals and CyberAgent Ventures with seven deals. Between 2012-2015, there were at least US$79 million raised by VC funds in Thailand, with the record broken by Inspire Ventures in 2013 with US$25 million. Though the number of VC funds experienced a 50 per cent decline between 2013-2014, it has increased to 170 per cent from 2014.
There are so many hidden unicorns in Thailand and undervalued ventures that deserve funding in Thailand, but in Southeast Asia, investors have traditionally looked first at Indonesia and Singapore. Our latest research shows that Thailand is beginning to genuinely rival them.
Techsauce Co-Founder Amarit Charoenphan was quoted as saying.
He also said that Thailand’s solid infrastructure, business stability and low operating costs are the chief aspects that make it ‘a perfect storm for startups.’