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7 hot startups from dtac accelerate attract over 70 million Baht investment from top VCs

May 30, 2016 – dtac accelerate celebrates its latest success with 7 startups receiving a combined seed funding of over 70 million Baht from top local and international VCs, led by 500 TukTuks, Golden Gate Venture, KK Fund, Galaxy Venture, Ookbee, and Tao Kae Noi, bringing the cumulative value of dtac accelerate startups to over 400 million Baht. 7 out of 11 dtac accelerate startups have landed investment, which equals to a success rate of 70%. Impressively, 2 out of the 11 are from batch 4 and have received seed funding within the first month of the bootcamp. The 7 funding recipients include 2 startups from FinTech (Piggipo and Finnomena), 2 from Logistic Tech (Skootar and Giztix), 1 from Travel Tech (Take Me Tour), 1 from Market Place (Fastwork), and 1 from Social Tech (Storylog).
Detail of this round’s funding:

1) Piggipo – a leading Thai FinTech startup with credit card management

    application received seed fudning from Golden Gate Venture and 500 startup

2) Storylog – the fastest-growing online community for writers and readers

    received funding and acquired by Ookbee South East Asia leading ebook

    platform.

3) Skootar – a messenger service delivering documents, invoices, and collecting

    cheques for SMEs, restaurants, and e-commerce businesses has grown 12

    times within 8 months after completing the dtac accelerate bootcamp.

    Skootar received funding from 500 startup and Galaxy Venture.

4) Take Me Tour – an online marketplace for one-day trips, provided by local

    tour expert, is very popular among tourists. Take Me Tour received funding

    from 500 startup and seaweed billionaire the owner of Tao Kae Noi.

5) Giztix – a marketplace for transportation and logistics services has expanded

    to 8 countries and received awards from Echelon Thailand Summit 2016 and

    Asia’s Tech Conference in Singapore. Giztix has received funding lead by

    KKFund and 500 startup since March.

6) Finnomena – a rising-star FinTech startup, founded by a group of fund

    managers to help Thai investors, piloted a new feature called “NTER” and had

    customers investing over 150 million Baht through the feature within 2 hours

    after launch. Finnomena received funding from 500 startup.

7) Fastwork – a fast-growing online marketplace for freelancers received seed

    funding from 500 startup within 9 weeks after launch.



Mr. Sompoat Chansomboon, Head of Business Innovation, Total Access Communication PLC or dtac said, “This round of investments indicates new trends that VCs look out for. FinTech will revolutionize online financial services at a wider scale. TravelTech helps modernize 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. Market Place helps connect demand and supply in the business world.” 

Mr. Ruangroj “Krating” Poonpol, Fund Manager of 500 TukTuks said, “We have invested in this round in 7 startups from dtac accelerate because all of them have a feasible product, strong team with business knowledge and experience, growing user base, and popularity in the market. All of these are the success formula for startups. Seed funding is an early stage investment required to support a business during the first 12-18 months until they grow and raise Series A to Series C-level funding or even get publicly listed in the stock exchange. 500 TukTuks has already invested over 70 million Baht in more than 20 Thai startups and is looking to invest in 10 more startups within this year.”