The trend also boosts the prospects of Thai startups which thrive on its resilient and agile business models looking to scale up to the global market. Since the beginning of 2020, Thai startups have raised over US$130 million, compared with around US$97.55 million by 35 Thai startups in 2019, and US$61.15 million raised by the same number of startups in 2018. To date, Thai corporates are the largest investors in Thai startups at the growth stage both in the form of fund-of-fund shareholding and direct investment. Meanwhile corporate venture capital funds (CVCs) support most of the Thai startups at the pre-seed and Series A levels. There have been several major startup funding rounds during the past few years, including Series C, highlighting the growing prospects of the Thai startup ecosystem.

Source: Bangkok Post February 24, 2021 09:11 UTC