Thursday, 3 April 2025
31.1 C
Singapore
36.4 C
Thailand
26.7 C
Indonesia
28.6 C
Philippines

Line invests US$20M to produce first Thai unicorn

With the ScaleUp program, Line Thailand and Line Ventures target to have the first Thai unicorn within the next three to five years, pledging a total of US$20 million (632 million baht) to help Thai startups grow their business. Line intends to gather innovative startups to strengthen its Super App strategies, as reported by The […]

With the ScaleUp program, Line Thailand and Line Ventures target to have the first Thai unicorn within the next three to five years, pledging a total of US$20 million (632 million baht) to help Thai startups grow their business.

Line intends to gather innovative startups to strengthen its Super App strategies, as reported by The Bangkok Post.

Despite having more than 90 funded startups, the country has yet to produce its own unicorn. Regional startups in Indonesia, Singapore, and Vietnam are getting a lot of growth because of their ability to attract the regional market and foreign investments.

ScaleUp will focus on being a “post-accelerator” by expanding the growth phase of Thai startups. It can help Thai startups to connect with international venture capital funds. Line Ventures will take a 20 percent share from the startups that already have existing products or services with a clear understanding of customersโ€™ needs, and a solid business model that can be expandable via Lineโ€™s extensive network, leveraging on its 44 million customers in Thailand.

The selected startups will have one year of free access to Lineโ€™s messaging application programming interface. They will also receive mentoring, and coaching in areas of interest covering education, digital content/media, and e-commerce that will compliment Lineโ€™s business.

The company piloted ScaleUp last year with five selected startups. This phase will launch on 17 May, with a demo day this coming November.

Line Ventures manages three funds worth US$100 billion and has invested in 43 firms, 12 of which are in Southeast Asia. In Thailand, it has invested US$5 million in Series A with FastWork and also acquired e-commerce platform, SellSuki.

Hot this week

NVIDIA Blackwell platform sets new performance benchmark in MLPerf Inference v5.0

NVIDIAโ€™s GB200 NVL72 sets a new benchmark in MLPerf Inference v5.0 with 30x token throughput, leading AI factory performance.

Huawei reports 38% revenue surge as smartphone sales soar

Despite US sanctions, Huaweiโ€™s consumer business revenue surged 38% in 2024, driven by strong smartphone sales and home-grown chip production.

These robot vacuums are getting smarter with Apple Home support

Appleโ€™s iOS 18.4 update adds Matter support for robot vacuums, enabling control via Apple Home. Roborock, iRobot, and Ecovacs are updating their devices.

NTT DATA partners with UPS on 10-year digital transformation deal

NTT DATA signs 10-year deal with UPS to modernise IT infrastructure, support AI innovation, and manage data centre operations.

MacBook Pro design overhaul expected in 2026

Apple might release a long-awaited MacBook Pro redesign in 2026, with OLED screens, improved portability, and more features.

YouTube expands shopping affiliate programme in Singapore through Shopee partnership

YouTube teams up with Shopee to launch its Shopping affiliate programme in Singapore, giving creators new ways to monetise their content.

Misconceptions about STEM careers continue to deter young women in Singapore

New research shows stereotypes and lack of support are deterring young women from STEM careers, posing a risk to Singaporeโ€™s innovation goals.

Synagie and HKT launch ShopHK to help Hong Kong brands expand into Southeast Asia

Synagie and HKT launch ShopHK, helping Hong Kong SMEs tap into Southeast Asia's booming US$600 billion e-commerce market.

Informatica introduces new AI features to boost cloud data integration and management

Informatica adds AI tools to simplify data integration and improve enterprise access to AI-ready data across its cloud platform.

Related Articles