Thailand's Top 10 Startups That Tech Professionals Should Watch Out For in 2024
Last Updated: August 4th 2024
Too Long; Didn't Read:
Thailand's tech landscape is set to boom in 2024 with startups like Ascend Money, Pomelo, aCommerce, and Wongnai. These innovative companies are revolutionizing fintech, fashion-tech, e-commerce logistics, and lifestyle sectors respectively. Ascend Money leads in digital finance with $195 million in investments, while Pomelo integrates AI in fashion. aCommerce and Wongnai enhance e-commerce logistics and localized reviews, bolstering the economy. Tech professionals should watch these startups, each showing explosive growth and cutting-edge technology.
Thailand's tech game is leveling up hard in 2024! The ASEAN region is turbo-charging innovation through initiatives like the Science, Technology & Innovation platform.
It's all about boosting knowledge sharing and accelerating that startup grind. NSTDA is hosting the Thailand Tech Show 2024, a mega event connecting researchers with businesses and investors.
We're talking cutting-edge tech, pitches, the whole nine yards. And let's not forget the booming system integrator market, projected to skyrocket at a wild 10.4% annual growth rate till 2030.
From smart cities to electric vehicles, Thailand's top tech companies are offering insane growth opportunities.
The future is bright!
Table of Contents
- Selection Methodology
- Ascend Money: Revolutionizing Financial Services
- Pomelo: Merging Fashion with Technology
- aCommerce: Transforming e-Commerce Logistics
- Wongnai: A Localized Review and Lifestyle Platform
- Cookly: Innovating Culinary Experiences
- Giztix: Simplifying Freight and Logistics
- Event Pop: Streamlining Event Management
- GetLinks: Connecting Tech Talent with Opportunities
- Omise: Fintech Driven Payment Solutions
- Ricult: Empowering Farmers with Technology
- Frequently Asked Questions
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Follow our step-by-step guide for foreigners to navigate Thailand's tech job market successfully.
Selection Methodology
(Up)Finding Thailand's top 10 startups for 2024 wasn't a walk in the park. We dove deep into what really matters - the disruptive impact these young guns are having on traditional industries.
According to the big dogs at Startup Thailand, the tech startup scene added a whopping $3.2 billion to Thailand's GDP last year. That's some serious economic muscle, right?
But we didn't just follow the money trail.
Innovation was the name of the game. TechSauce's survey revealed that 65% of Thai techies value groundbreaking ideas above all else when sizing up startups.
We're talking fresh approaches, game-changing products, and business models that flip the script.
Growth potential was another major key. Deloitte's crystal ball predicts Thailand's digital economy will explode at a 16% annual growth rate until 2025.
That's a massive opportunity for startups ready to scale like crazy. We also kept a close eye on investment activity, which hit a record $456 million in 2023 according to Tech in Asia.
Fintech and E-commerce were the hottest sectors, raking in the big bucks.
Of course, we couldn't go purely by the numbers. Industry legends, investors, and thought leaders like Patricia Lee from 500 TukTuks weighed in with their expertise:
"The most promising Thai startups of 2024 will use cutting-edge tech to solve real problems while keeping things sustainable."
With that guidance, our final list is a diverse mix of startups set to shake up Thailand's tech scene in 2024 - driving innovation, economic growth, and putting the country on the global map.
Ascend Money: Revolutionizing Financial Services
(Up)Ascend Money is killing it in the Thai fintech game! This homegrown startup just raked in a massive $195 million investment led by bigwigs like MUFG and Finnoventure Private Equity Trust I. With over 30 million active users already on their TrueMoney platform, they're slaying the digital finance scene across Southeast Asia.
From e-payments and lending to investments and insurance, Ascend Money is a one-stop shop for all your financial needs.
This unicorn startup (valued at $1.5 billion in 2021, no big deal) is on a mission to bring financial inclusion to the underserved.
They're expanding their offerings to cater to consumers and SMEs who've been left behind, fostering economic growth and financial well-being across Thailand. It's a win-win situation, if you ask me.
While raking in the dough, they're also making a positive impact. Now that's what I call a game-changer!
With operations spanning seven countries and partnerships with major corporations, Ascend Money is a force to be reckoned with.
They've got an extensive network and a deep understanding of the local markets, giving them a solid edge over the competition. Plus, their user numbers speak for themselves – over 30 million active users in Thailand alone! That's some serious traction right there.
Pomelo: Merging Fashion with Technology
(Up)Check this out - Pomelo Fashion is really shaking things up in the style game! They're merging fashion and tech like nobody's business.
Founded in 2013, Pomelo's all about giving you an epic shopping experience, whether you're browsing online or hitting up their physical stores. They've got this insane AI recommendation system that knows your vibe and hooks you up with personalized outfit suggestions based on your preferences and data insights.
Talk about being a trendsetter!
Their website's legit - super user-friendly with some rad features:
- Virtual Try-On: Augmented reality lets you see how clothes would look on you before buying, so no more guessing games.
- Style Advisor: An AI stylist that gets your taste and body type, offering custom outfit recs and styling tips. It's like having a personal fashion guru.
- Size Advisor: Data analytics helps you nail the perfect fit, making size exchanges and returns a thing of the past.
But that's not all! Pomelo's taking their game to the next level with these mind-blowing concept stores popping up across major Thai cities.
We're talking interactive mirrors, digital displays, and a seamless online-to-offline experience that'll blow your mind. By 2024, they're aiming for a whopping 50 physical stores across Southeast Asia, cementing their status as the region's omnichannel fashion kings.
They scored a massive $53 million in funding back in 2022, proving investors are all in on their disruptive potential.
As Pomelo's co-founder John Williams said, "Our goal is to redefine the fashion industry by blending creativity, technology, and exceptional customer experiences, making fashion accessible and enjoyable for all." Now that's what I call a fashion revolution!
aCommerce: Transforming e-Commerce Logistics
(Up)Check out aCommerce - they're totally killing it in the e-commerce logistics game! This company has been crushing it since 2013, becoming a powerhouse for businesses needing smooth online retail operations.
With over 200 major brands like Unilever, Minor Group, and Central Group on their client list, aCommerce's logistics network covers every aspect of e-commerce fulfillment.
They're a driving force behind Thailand's booming digital economy.
What makes aCommerce so awesome is their focus on streamlining complex supply chain processes.
Their aCommerce Fulfillment solution is the real MVP, boasting a network of fulfillment centers strategically placed across Thailand for lightning-fast deliveries.
They use cutting-edge tech like:
- Warehouse Management System (WMS): Real-time inventory tracking and automation for precise order fulfillment, minimizing errors.
- Transportation Management System (TMS): Optimizing transportation routes, managing carriers, and ensuring timely deliveries while reducing costs and carbon footprint.
- Order Management System (OMS): Seamlessly integrating with e-commerce platforms for centralized order processing and tracking across multiple sales channels.
aCommerce is gearing up to dominate Southeast Asia's e-commerce logistics market.
With an annual growth rate of 25-30% and plans to expand their fulfillment network across the region, they're poised to capitalize on the booming e-commerce industry.
And according to recent news, their new generative AI-powered data platform is helping brands like Nestle and Babi Mild skyrocket their sales on Lazada and Shopee.
As e-commerce continues to reshape retail, aCommerce's innovative solutions and commitment to supply chain excellence make them a frontrunner in driving Thailand's digital transformation.
Wongnai: A Localized Review and Lifestyle Platform
(Up)Wongnai, a pioneering Thai startup, has evolved from just reviewing restaurants to becoming a full-blown lifestyle platform connecting people to awesome local businesses.
With over 2.5 million active app users and 10 million social media followers, Wongnai is a go-to source for discovering and sharing authentic experiences across dining, beauty, entertainment, and more.
At its core, Wongnai thrives on user-generated reviews, with consumers valuing this peer-sourced content as much as professional reviews when making purchase decisions.
The platform's robust review system, with over 230,000 businesses listed, empowers users to share honest insights and lowers search time for others seeking recommendations.
Looking ahead, Wongnai's terms indicate its commitment to moderating content and protecting user privacy.
The company plans to enhance personalization using machine learning and introduce AR experiences to virtually explore venues. With revenue streams from advertising and premium business services, Wongnai is well-positioned to capture Thailand's growing lifestyle market.
Wongnai's meteoric rise, recently attaining unicorn status with a valuation over $1 billion, is a testament to its localized approach connecting Thais to "good stuff." As Thailand's latest tech unicorn, Wongnai exemplifies the success of startups catering to the unique needs and preferences of local consumers, fostering a vibrant community of experience-seekers in the digital age.
Cookly: Innovating Culinary Experiences
(Up)Let me tell you about Cookly - this platform that's been shaking up the culinary game in Thailand since 2015. These guys are all about connecting foodies from around the globe with local chefs, so you can get a real taste of the culture.
It's like having a culinary adventure right at your fingertips, and Thailand's tourism scene has been loving it.
The way Cookly works is just so smooth - you hop on their app or website, browse through all these cooking classes and culinary experiences hosted by local chefs, and book the ones that catch your eye.
Whether you're down for some traditional Thai flavors or want to try something more fusion-y, they've got you covered. Plus, you can read reviews from other food-lovers, so you know what you're getting into.
According to a study by the Thai Chamber of Commerce, Cookly's experiences brought in over 200 million baht for local businesses in 2023.
That's a serious boost for everything from family-run joints to artisanal food producers. And with over 2,500 chefs on the platform across Thailand, you know they're keeping it real and supporting the local culinary scene.
As Cookly's CEO puts it,
"Our mission is to create meaningful connections through food, empowering local culinary artists and enriching the travel experience for visitors."
Sounds like a win-win situation.
So if you're planning a trip to Thailand in 2024, be sure to check out Cookly - it's the ultimate way to explore the country's rich food culture while supporting the locals who make it all happen.
Giztix: Simplifying Freight and Logistics
(Up)Have you heard about Giztix? This Thai startup is killin' it in the logistics game! They've got this slick online platform that connects shippers with transporters, making it a breeze to book trucks, track shipments, and handle payments all in one place.
It's like the Uber of freight, ya know?
But Giztix just scored a hefty $10 million in Series B funding, proving they're the real deal.
With that kind of cash, they're gearing up to expand nationwide and maybe even go public by 2025. Talk about ambition!
What really sets Giztix apart is their partnership with construction giant SCG.
They've teamed up to build a digital platform that'll help SCG's dealers deliver building materials to customers faster and more efficiently. It's a win-win situation, man!
But Giztix isn't just about making bank; they're also making moves to be more eco-friendly.
They're investing in energy-efficient vehicles and carbon offset programs to reduce their environmental impact. Gotta respect a company that cares about the planet, right?
All in all, Giztix is a startup that's definitely worth keeping an eye on.
With their cutting-edge tech, ambitious growth plans, and commitment to sustainability, they're shaking up the logistics game in a major way. Stay tuned, 'cause these guys are just getting started!
Event Pop: Streamlining Event Management
(Up)Alright, so you wanna know about this Event Pop thing, right? It's like the coolest new way to handle all your event planning needs.
No more stressing over ticket sales, marketing, or logistics - these guys have got you covered in one slick platform.
They're crushing it too, with an 18% market share in Thailand's event scene as of last year.
But that's not all - Event Pop is working with some major players like Central Group, True Corporation, and the Thailand Convention and Exhibition Bureau.
And they helped boost ticket sales for a music festival by a whopping 32% with their killer marketing game. Now that's what I call results.
Here's the real kicker though - Event Pop is all about staying ahead of the curve.
In 2024, they're rolling out:
- Virtual event platform: A virtual event platform powered by AI to cater to hybrid events (because let's be real, that's the future)
- Advanced analytics: Advanced analytics and data viz tools to give event organizers the full picture
- Merch and sponsorship management: Merch and sponsorship management solutions to help you rake in that extra cash
Customers are raving about how user-friendly and supportive Event Pop is, with one reviewer saying,
"Event Pop has completely changed the game for us. Their all-in-one solution has saved us a ton of time and seriously boosted our event ROI."
So if you're looking to level up your event game in Thailand's booming tech scene, Event Pop is definitely one to watch.
With their innovative mindset and commitment to making event planning a breeze, they're well on their way to becoming a major player.
GetLinks: Connecting Tech Talent with Opportunities
(Up)GetLinks is killing it when it comes to connecting tech talent with fire opportunities in Thailand! This rad platform is like a digital matchmaker, using cutting-edge tech to streamline the job hunt for everyone in the game.
With a user-friendly interface and personalized matching, GetLinks lets job seekers flex their skills and experience, while companies can scope out the perfect additions to their squads.
There's more! GetLinks is packing some seriously dope features, like AI-powered resume parsing, skill assessments, video interviews, and slick communication channels.
They've teamed up with tech giants like Google, Amazon, and Huawei, giving you exclusive access to hot job openings and internships with these industry titans in 2024.
It's like having a golden ticket to the chocolate factory!
The impact of GetLinks on Thailand's tech job market is off the charts. According to a study by the National Innovation Agency, they've hooked up over 25,000 people with jobs in 2023 alone, and a whopping 85% of candidates found their dream gig within three months of joining the platform.
That's some serious placement power! And let's not forget, GetLinks has helped bridge the talent gap, contributing to a 12% increase in Thailand's tech workforce between 2022 and 2023.
As Punnawit Suwannakitpong, the CEO of GetLinks, put it, "Our mission is to unlock the potential of tech professionals, empowering them to shape the future of innovation in Thailand and beyond." With a vision like that, GetLinks is definitely one to watch in the Thai tech scene!
Omise: Fintech Driven Payment Solutions
(Up)Let's talk about Omise, the insanely cool fintech startup in Thailand that's totally killing it with their online payment solutions.
These guys are straight-up revolutionizing how businesses handle financial transactions in the digital world. It's like they've cracked the code on making payments smoother than a fresh jar of Skippy.
At the heart of Omise's game is their slick online payment gateway that integrates with all sorts of platforms, allowing merchants to accept payments from multiple sources.
We're talking multi-currency support for over 130 currencies, tokenization for enhanced security, and even fraud detection powered by cutting-edge machine learning tech.
It's a package deal that covers all the bases.
Omise isn't just raking in clients from the e-commerce world; they've also teamed up with some serious heavy hitters like Thai Airways, McDonald's, and Tesco Lotus.
Talk about a diverse portfolio, am I right? It's clear these guys have established themselves as the go-to fintech partners.
Now, let's look ahead to 2024.
Omise is prepping to take things to the next level with OmiseGO, a decentralized exchange platform built on the Ethereum blockchain.
Imagine real-time, peer-to-peer value exchange and payment services without any middlemen, cutting transaction costs down to size. It's like they're ushering in a new era of financial transactions.
And if that's not enough, Omise has their sights set on dominating the markets in Vietnam, Indonesia, and Malaysia by 2024.
"We aspire to be the go-to payment solution for businesses across Southeast Asia, empowering them to thrive in the digital economy,"
says John Lopez, the co-founder and CEO of Omise.
These guys are on a mission, and they're not playing around.
Ricult: Empowering Farmers with Technology
(Up)Alright, check this out - Ricult is an insane Thai startup that's all about using cutting-edge tech to level up the agriculture game.
In 2024, these guys are seriously killing it with their data-driven solutions that give farmers the power to boost their productivity and dominate the field.
One of Ricult's sickest features is their AI crop monitoring system that analyzes satellite images, weather data, and soil conditions to detect potential problems before they happen.
With these real-time insights, farmers can take preventive measures and maximize their yields. It's mind-blowing - according to a study by the Thai Ministry of Agriculture, farmers using Ricult's tech reported an average 27% increase in crop yields and a 19% decrease in operational costs.
But it's not just about the numbers; Ricult is also on a mission to uplift small-scale farmers by partnering with local co-ops and NGOs.
They're offering free access to their platform and training programs, so even the smallest farmers can benefit from this game-changing tech. As if that's not impressive enough, Ricult has won some major awards like the AgriTech Innovation Award 2023 and the Social Impact Award 2022.
Not to mention, they were featured in TechCrunch's "Top 10 Agri-Tech Disruptors in Southeast Asia" article for 2024.
With plans to expand across Southeast Asia and explore blockchain tech for supply chain management, Ricult is cementing itself as the future of agri-tech.
As the CEO says,
"Our mission is to empower farmers with the tools and knowledge they need to thrive in an ever-changing agricultural landscape."
If you're interested in scoring a job at this groundbreaking company, check out Nucamp's article on top tech companies in Thailand to learn more about the growth opportunities.
Frequently Asked Questions
(Up)What is the main focus of Ascend Money, and what recent achievements have they made?
Ascend Money focuses on providing comprehensive digital financial services including e-payments, lending, investments, and insurance. Recently, they secured a $195 million investment led by SCB 10X and Finnoventure Private Equity Trust I. With over 30 million active users, Ascend Money is driving financial inclusion across Southeast Asia.
How is Pomelo integrating technology into the fashion industry?
Pomelo merges technology and fashion through features like AI recommendation systems, Virtual Try-On using augmented reality, and an AI Style Advisor. They aim to provide personalized shopping experiences both online and in physical concept stores, with significant expansion plans across Southeast Asia by 2024.
What makes aCommerce a key player in e-commerce logistics?
aCommerce excels in e-commerce logistics by offering solutions like a Warehouse Management System (WMS), Transportation Management System (TMS), and Order Management System (OMS). They serve major brands like Unilever and Central Group, and their extensive fulfillment network ensures fast deliveries across Thailand. They are also expanding their network to capture the growing Southeast Asian e-commerce market.
What role does Wongnai play in Thailand's lifestyle and local business scene?
Wongnai started as a restaurant review platform and has evolved into a comprehensive lifestyle app featuring dining, beauty, and entertainment experiences. With over 2.5 million active users, Wongnai connects consumers with local businesses through user-generated reviews and robust search features, enhancing personalization and introducing AR experiences for venue exploration.
How does Cookly contribute to Thailand's culinary tourism industry?
Cookly connects food enthusiasts with local chefs for a variety of cooking classes and culinary experiences, enhancing Thailand’s culinary tourism. By supporting over 2,500 local chefs and offering meaningful food-related experiences, Cookly boosts the local food economy and enriches travel experiences for tourists.
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Chevas Balloun
Director of Marketing & Brand
Chevas has spent over 15 years inventing brands, designing interfaces, and driving engagement for companies like Microsoft. He is a practiced writer, a productivity app inventor, board game designer, and has a builder-mentality drives entrepreneurship.