Line Man Wongnai became Thailand’s largest tech startup by valuation thanks to a new round of funding.
Singapore sovereign wealth fund, Capital Market Company (GIC), led the latest funding round that managed to raise 10.1 billion baht for the Thai food delivery app and in doing so made it Thailand’s latest unicorn company.
Line, Taiwan Mobile, BRV Capital Management and PTT Oil & Retail Business all contributed to the Series B round of funding. The company is now valued at about 38 billion baht (US$1 billion) and is Thailand’s largest tech startup by valuation.
Line Man Wongnai chief executive officer Yod Chinsupakkul announced that the proceeds from the fundraising will be used to strengthen the food delivery business, expand the technology team and increase its workforce.
He said…
“The success of this fundraising is an important milestone for Line Man…
