500 TukTuks II, 500 Startups’ second Thailand fund, announced today that it has injected an undisclosed sum into six startups—its first batch of investments.
These startups are EnerGaia, DeepSparks, InstaWash, Kinkao, JuiceInnov8—all from Thailand, and Neuron Mobility from Singapore.
Launched earlier this June, 500 TukTuks II secured its first close of funding from Thai companies Central Group, Southeast Group, Saha Pathana Inter-Holding, TC Pharmaceuticals, The Vacharaphol, and Sermsang Power.
Thailand’s mototaxis / Photo credit: Wikimedia
The fund is reportedly targeting to raise US$20 million to back 150 startups.
The first six startups come from a wide range of sectors: EnerGaia and JuiceInnov8 are in biotechnology, DeepSparks operates in fintech and AI, InstaWash provides on-demand car detailing, Kinkao offers B2B large-scale food delivery, and Neuron Mobility focuses on e-scooters.
500 TukTuks II follows 500 TukTuks I, which participated in 51 seed and pre-series A rounds. 500 Tuktuks II has expanded its scope as it now seeks to “aggressively” invest in startups outside of Thailand, particularly in Cambodia, Laos, Myanmar, and Vietnam.
Editing by Judith Balea, Eileen C. Ang, and Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
