Apart from the PropTech sandbox, the joint venture firm has budgeted 600 million baht for investing in innovation and technology. The aim is to invest in more start-ups across the world to grow and develop the PropTech arena.
According to a recent report, a capital venture based in Thailand that focuses on full-scale research and development of Property Technology (PropTech) has announced that investments in two start-ups and a US fund in the fourth quarter this year.
The company has invested over 300 million baht in 2018, including its latest investments in a giant venture capital fund from the US, and two start-ups in the final quarter this year.
The company plans to inaugurate its Private PropTech Sandbox in Thailand next year, allocating 600 million baht to scale up its investment in start-ups by focusing more on series A rounds or larger.
The company’s chief technology officer of the joint venture between two major firms in Thailand, which, as mentioned before, focuses on full-scale R&D of property technology (PropTech), said the sandbox will be launched in 2019.
In the year since its inception, the joint venture capital company has invested in start-ups, funds of funds and R&D with other organisations worth a total of over 300 million baht.
One the two major firms have started to adopt at its residential projects the technology and innovation of start-ups in which the joint venture invested. The start-ups include a developer of electric wind turbines for accommodations; a developer of 3D technology applications for controlling construction in real-time; a home automation developer; a US-based start-up that develops automated planting in accommodation; and an e-scooter developer from Singapore.
The developer also launched its own Home Service application, developed using artificial intelligence to support a human-like voice command system developed by Onion Shack.
The joint venture firm has partnered with 12 Thai and global technology partners such as Startup Thailand, Microsoft Thailand, DTAC accelerates, Hubba Thailand and UNICEF.
The company has also invested in the global startup platform including a network from Silicon Valley and a network from Israel. Both are networks of almost 10,000 start-ups worldwide.
Siri Ventures recently co-invested with a Chinese company in China’s giant fund which has more than 20 unicorns in the portfolio, which will help the joint venture capital company link with high-potential PropTech start-ups in China faster.
The investment in the giant venture capital fund from the US will enable the joint venture firm focus even more on developing PropTech worldwide.
The Singapore-based start-up is one of the two delivery robot developers in the world. And one of the major firms that are part of the joint venture has adopted its robots in The Monument Sanampao project.
The e-scooter is undergoing a trial at a condo project in Chiang Mai.
In 2019, the joint venture firm has budgeted 600 million baht for investing in innovation and technology. This includes an upgrade of the robots.
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