#Asia Fellowship of the seed: 7 dtac accelerate startups receive over US$1.9M of combined funding


Seven out of 11 dtac accelerate startups have landed investment, which equals to a success rate of 70 per cent

VC Investment1

dtac accelerator today announced that seven out of its 11 startups have finally received a combined seed funding of over THB70 million (US$1.9 million) from local and international VC firms, led by 500 TukTuks, Golden Gate Venture, KK Fund, Galaxy Venture, Ookbee, and Aitthipat Kulapongvanich, the owner of snack company Tao Kae Noi.

With the funding, the Bangkok-based accelerator claimed that the cumulative value of its startups has reached over THB400 million (US$11 million), with a 70 per cent success rate.

The following are the list of the startups:

Piggipo, a leading Thai finTech startup producing credit card management app. It received seed funding from Golden Gate Venture and 500 TukTuks.

Storylog, the fastest-growing online community for writers and readers. Not only that it received funding from e-book platform Ookbee, it was also acquired by the company.

Skootar, a messenger service delivering documents, invoices, and collecting cheques for SMEs, restaurants, and e-commerce businesses. It claimed to have grown 12 times within eight months after completing the dtac accelerate bootcamp. It received funding from 500 TukTuks and Galaxy Venture.

Take Me Tour, online marketplace for one-day trips, provided by local tour expert. Take Me Tour received funding from 500 TukTuks and young billionaire Aitthipat Kulapongvanich, the owner of snack company Tao Kae Noi.

Also Read: Silicon Valley’s entrepreneurship programme Founder Institute relaunches in Thailand

Giztix, a marketplace for transportation and logistics services that has expanded to eight countries and received awards from Echelon Thailand Summit 2016 and Asia’s Tech Conference in Singapore. Giztix received funding led by KKFund and 500 TukTuks.

Finnomena, a rising fintech startup founded by a group of fund managers that aims to help Thai investors. It piloted a new feature called “NTER”, and claimed to have customers investing over THB150 million (US$4 million) through the feature within two hours after launch. Finnomena received funding from 500 TukTuks.

Fastwork, a fast-growing online marketplace for freelancers. It received seed funding from 500 TukTuks within nine weeks after launch.

According to Sompoat Chansomboon, Head of Business Innovation, Total Access Communication PLC (dtac), the round of investment indicates a new trend that VCs “look out for.”

“Fintech will revolutionise online financial services at a wider scale. Traveltech helps modernise the Thai tourism industry by providing convenience and local tour, which expects to welcome over 33 million tourists this year, doubling the number from last year. Logistic tech is now essential for all businesses to improve efficiency, reduce cost, and reach consumers quickly. Marketplace helps connect demand and supply in the business world,” he explained in a written statement.

Image Credit: dtac accelerator

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