Thai VC firm Siri Ventures invests in Singapore startups Techmetics
Additionally, Siri Ventures has made over US$9.2 million investment in US-based venture capital firm Fifth Wall Ventures
Siri Ventures, a corporate VC firm formed by Sansiri Public Company and Siam Commercial Bank in Thailand, has announced investments in two Singapore-based startups — Techmetics and Neuron.
Techmetics offers service robotics solutions to various industries such as hospitality, healthcare and manufacturing sectors. Its products are currently available in the US, Australia, the UAE, Singapore and Thailand.
“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’s delivery robots. Nowadays, Techmetics opens more branches in the US and develops service robots to serve leading hotels such as Marriott in 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,” said Jirapat Janjerdsak, CTO of Siri Ventures.
Neuron is an e-mobility technology company. Founded in 2016, Neuron operates an electric scooter sharing system with an innovative dock optional service model with an aim to bring benefits to both consumers as well as city governments. “Neuron is a 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,” he added.
Additionally, Siri Ventures has disclosed over 300 million baht (US$9.2 million) investment in Fifth Wall Ventures, a US-based VC fund. “Fifth Wall is focussed on proptech worldwide, which will help Siri Ventures discover potential proptech startups in a faster pace.”
Since its inception in 2017, Siri Ventures has invested in startups, funds of funds and R&D, in partnership with other organisations. In 2019, Siri plans to kick off its proptech sandbox and has allocated 600 million baht (US$18.4 million) to scale up its investment in startups by focusing more on Series A rounds and larger.
The VC firm has also promoted the startup ecosystem through the partnership with 12 Thai and global technology partners. In 2018, Siri Ventures joined hands with Startup Thailand, Microsoft Thailand, dtac accelerate, Hubba Thailand and Unicef.
Recently, Siri 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.