SIRI VENTURES announces investments in 2 startups and US fund in Q4/18, Ready to launch SIRI VENTURES Private PropTech Sandbox To further develop innovation for Sansiris customers in 2019

Event Calendar Press Releases Monday December 3, 2018 17:27
Bangkok--3 Dec--Agate Communication

Siri Ventures reveals it has invested over 300 million baht in 2018 including its latest investments in Fifthwall, a giant venture capital fund from the United States, and two startups – Techmetics and Neuron – in last quarter of this year. In 2019, it plans to kick off "SIRI VENTURES Private PropTech Sandbox" for the first time in Thailand and allocates 600 million baht to scale up its investment in startups by focusing more on series A rounds or larger.

Mr. Jirapat Janjerdsak, Chief Technology Officer of SIRI VENTURES Co., Ltd, a joint venture between Sansiri Public Company Limited and Siam Commercial Bank that focuses on full-scale research and development of Property Technology (Prop Tech), said it plans to launch "SIRI VENTURES Private PropTech Sandbox" in 2019. Siri Ventures will be the first company that uses this model to develop its living technology for Sansiri's customers. After a year since its inception, Siri Ventures has invested in startups, funds of funds and research and development with other organizations with a total value of over 300 million baht. This would be a significant push to create innovations and new Prop Tech in Thailand.

Disclose new innovation from Prop Tech startups in 2018

The company has started to adopt the technology and innovation of the startups that it invested in Sansiri's residential projects, for example, Semtive, a developer of electric wind turbine for accommodations, Astralink, a developer of 3D technology application for controlling the construction in real time, the launch of Sansiri Home Service Application that is developed with AI technology to support the human-like voice command system developed by Onion Shack, AppySphere, a home automation developer, Farmshelf, the US-based startup that develops the automated planting in accommodation, and Neuron, an e-scooter developer from Singapore.

Support startup ecosystem & Bring Thai startups to Silicon Valley

The company has promoted the startup ecosystem through the partnership with 12 Thai and global technology partners. In 2018, Siri Ventures have joined hand with a plenty of partners such as Startup Thailand, Microsoft Thailand, dtac accelerate, Hubba Thailand and Unicef. Sansiri is Thailand's first company that is selected to be UNICEF's Selected Partner. Besides, it also forms the partnership with accelerators, universities and the government's agencies that promote the growth of startup ecosystem. In addition, it has co-organized the events such as Techsauce Global Summit 2018 and Startup Thailand 2018, brought Thai startups to attend the hackathorn in Silicon Valley and teamed up with Google Developer Thailand to hold an upcoming hackathorn on December 15-16.

Join "China Renaissance" to build the startup network in China

Apart from investing in startups, Siri Ventures has cooperated with global startup platform such as "Plug and Play" from Silicon Valleys in the United States and "SOSA" from Israel. Both are the network of almost 10,000 startups worldwide. Recently, it has co-invested with "China Renaissance" in China's giant fund "Hua Xing". Hua Xing has more than 20 unicorns in the portfolio, which will help Siri Ventures link with high potential PropTech startups in China faster.

Investment in the US giant fund and two startups in Q4/2018

"In the last quarter of this year, the company has made the investment in Fifth Wall Ventures, the US-based venture capital firm that focuses on PropTech worldwide, which will help Siri Ventures discover potential PropTech startups in a faster pace. Besides, we have also invested in two startups. One is Singapore-based Techmetics, one of the two delivery robot developers in the world. For the first time in Thailand, Sansiri has adopted "Sandee" robots in The Monument Sanampao project. Not only in Thailand, other countries around the world also give a good feedback to Techmetics' delivery robots. Nowadays, Techmetics opens more branches in Silicon Valley in the United States and develops service robot to serve leading hotels such as Marriott Silicon Valley, Yotel New York and Miami as well as hospitals in Australia and Taiwan. It also plans to expand its branches into Canada and Europe next year. The other investment we've made is Neuron, a Singaporean developer of e-scooter, which has implemented in Thai property projects for the first time. Now it is on trial at Habito in T77 community and D Condo project in Chiang Mai," added Mr. Jirapat.

For 2019, Siri Ventures sets aside the budget of 600 million baht for investing in innovation and technology. This budget will include the upgrade of 'Sandee' robots which will enable them to provide more various services than parcel delivery, the investments in startups and venture capital by focusing on series A or larger, the support in the Thai startup ecosystem to be competitive in Asia, and Lab and Development which will boost more cooperations with partners. All these four missions are under Siri Ventures' business plan in 2019, covering the requirement of Sansiri's customers in all aspects and enhancing the country's property business through the sustainable development of PropTech and Living Tech ecosystem.

About Siri Ventures

SIRI VENTURES Co., Ltd, a 90:10 joint venture corporate venture capital between Sansiri Public Company Limited and Siam Commercial Bank. Its mission is to search and develop new technologies for property industry and for the better living quality of customers. Besides, it primarily invests in four sectors including 1. Construction Technology 2. Sustainability-related teachnology 3. Property Technology and 4 Living Technology & Health Technology.


Latest Press Release

Indorama Ventures Announces Senior Leadership Appointments

Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced the appointment of two new senior leadership; Chief Strategy Officer (CSO) and Chief Human Resources Officer (CHRO), effective from 1 April 2019. The senior leadership...

CP Foods steps to achieve its Sustainability Goals 2020

Charoen Pokphand Foods PCL (CP Foods) draws closer to achieve its Sustainability Goals 2020 and drives forward to long-term plan which targets for significant improvements, especially in animal welfare, environmental footprints reduction, and packaging...

ASEANbeauty 2019 generates over THB1,000 million

The Thai beauty market is bustling at the beginning of the year. ASEANbeauty 2019 generates over THB1,000 million, more than 5% in the total 2019 market, ready to show the potential of the cosmetics market, which is over THB300-billion worth ASEANbeauty...

PTTOR eyes global brand status serving up iconic Cafe Amazon coffee in two Singapore outlets

PTT Oil and Retail Business Public Company Limited or PTTOR today launches its iconic brand Cafe Amazon in Singapore with two outlets now serving Thai coffee to Singaporeans and foreigners alike. The opening ceremony is held at Cafe Amazon Jewel Changi...

Wide Faith Foods invites you to experience the deliciousness of 100% Thai rice, at THAIFEX - World of Food Asia 2019

Wide Faith Foods Co., Ltd., the manufacturer and distributor of rice snack, "Master Rice", prepared to bring deliciousness from 100% Thai rice, invade the largest food and beverage arena in ASEAN, "THAIFEX - World of Food Asia 2019" revealing the...

Related Topics