500 TukTuks 2019 Highlights
500 TukTuks is turning 5 years old in 2020. From 2015, we saw the opportunity to invest early and often into Thailand and CLMV’s most promising startups and empower them with Silicon Valley’s education, thinking, talent, and money to provide unfair advantage in their markets.
We are proud of what we have accomplished so far in our short 4 years and are excited to share some of our highlights for 2019.
Our Mission is to discover and back the most talented entrepreneur in Southeast Asia, help them create success companies at scale, and build thriving startup ecosystems. It has been a real pleasure putting in the efforts to see this mission in full force as we continue to work with the best founders around.
A look at 2019:
- 500 TukTuks II invested in 14 early stage startups operating in more than 10 countries in total.
- This brings 500 TukTuks II total portfolio count to 18 startups.
Read more about the startups from 500 TukTuks II in the Press Releases below:
First batch of 6 investment: https://www.techinasia.com/500-tuktuks-two-invests-six-startups
Second batch of 10 investment: https://e27.co/meet-the-10-new-startups-that-thailands-500-tuktuk-has-invested-from-its-second-fund-20191202/?fbclid=IwAR3VbJh9__gnRlzCzswIIt3GPMn61z_qTe0NOUmgRaUNG41p9W4gyzzpS7g
- 500 TukTuks invested into 4 follow on rounds namely: Freshket, Chomchob, Bellugg and CloudCommerce.
Notable Funding Rounds from Portfolio Companies:
- Pomelo, $52m Series C: https://techsauce.co/news/fashion-tech-startup-pomelo-raises-us52-million-in-series-c-funding
- Omise: https://www.techinasia.com/payments-blockchain-startup-omise-secures-funding-japans-nomura-holdings
- Trusting Social, $25m Series A: https://www.dealstreetasia.com/stories/trusting-social-145200/
- Baania, $10m Series B: https://techsauce.co/news/baania-get-series-b-funding-10m-usd-lead-by-krungsri-finnovate
- Bellugg, Pre-Series A: https://techsauce.co/en/news/bellugg-raises-pre-series-a
- Drivemate, $2.2m Series A: https://techsauce.co/en/news/drivemate-raises-2-2-million-series-a
- CloudCommerce, Pre-Series A: https://techsauce.co/news/cloudcommerce-raises-pre-series-a-round
- Neuron Mobility, $18.5m Series A: https://techcrunch.com/2019/12/09/singapores-neuron-mobility-raises-18-5m-to-bring-its-electric-scooters-to-more-international-markets/
- FinAccel (Kredivo), $90m Series C: https://techcrunch.com/2019/12/02/kredivo-finaccel-raises-90m-to-expand-its-credit-lending-platform-in-southeast-asia/
- TakeMeTour selected for Pitch@Palace: https://mgronline.com/smes/detail/9620000106536
- Kinkao and Instawash graduated from dtac Accelerate Batch 7: https://techsauce.co/news/dtac-accelerate-batch-7-demo-day-summary
- Five 500 TukTuks portfolio companies ranked in the top 10 Thai Fintech with the most funds raised: https://thaifintech.org/top-10-fintech-startup/
- 4 out of 6 startups selected for LINE Scale Up program are from 500 TukTuks portfolio: https://brandinside.asia/line-6-startup-line-scaleup-2019/
500 TukTuks By The Numbers:
- Invested into 69 companies with over 100 founders in total.
- Invested in 6 different countries.
- 58% of our portfolio company in fund 1 been able to raise follow on funding.
- Cemented our leading position as the most active VC in Thailand
- 4 Startups under the portfolio valued at Centaur levels
- 10 Startups under the portfolio valued at the Ponies level
Discovering and Backing The Region’s Most Talented Entrepreneurs / Helping Them Create Successful Companies At Scale
With the launch of 500 TukTuks II, the fund expanded its reach to CLMV countries and will look to back the most talented entrepreneurs in those countries. In addition, 500 TukTuks II will also be investing in deep-tech startups. The fund has already made 2 investments in this area namely; JuiceInnov8, a food bio-tech startup developing a sugar reduction technology for the beverage industry and Energaia, a startup focusing on the cultivation of spirulina.
In 2019, 500 TukTuks II also made its first foray into Myanmar, investing in to Shweproperty, a leading property transaction portal in the fast-growing Myanmar property market.
Meanwhile, the first batches of investments from the first fund have shown great progress. Omise, a leading startup in the Fin-Tech and payment gateway space, has gone on to raise their Series B++. In a different industry, Pomelo, a leading omnichanel fashion company has also gone on to raise a $52m Series C round. These 2 startups along with Trusting Social, a next generation credit intelligence platform and FinAccel,a credit-risk and lending platform, are now valued at centaur levels.
Build Thriving Ecosystems
As part of our mission to build thriving ecosystems, the 500 TukTuks team as well as founders under the 500 TukTuks family has been constantly active in the local ecosystem and community-building activities. From supporting our partners, speaking at conferences, judging pitching competitions at home and abroad to making meaningful connections and mentoring new founders. As a result, 500 TukTuks has created one of the strongest community of founders, partners and investors in the Southeast Asian Startup Ecosystem. We would like to take this opportunity to thank all the founders, partners and investors of 500 TukTuks for your contribution. Moving forward, we hope to continue welcoming awesome new members into our community.
A Strong Global Community
In 2019, we were fortunate to be able to welcome the global #500family to Phuket, Thailand for 500 Startups annual retreat. It was an joyous yet intense week as the whole 500 Startups Global teams participated in a mini internal conference in Phuket sharing best practices, insights and experiences from VCs and Ecosystem builders who in aggregate have invested in over 2,200 companies in over 70 countries.
It is vital that we keep our eyes and mind open to learn from more established ecosystems as well as more emerging ecosystems. The experience and insights from real practitioners around the world like this can hardly be found elsewhere and this further affirms the power of 500’s global community that our founders and partners can tap into.
It is astonishing how 2019 flew by. As we reflect upon these 2019 and the past years, we are incredibly grateful to serve this mission of discovering and backing the most talented entrepreneurs in Southeast Asia and helping them create companies at scale as well as building thriving startup ecosystems. We are more excited than ever about the future and we look forward to continuing our efforts in to see this mission working in full force.
Wishing everyone a great year ahead in 2020 !