Siri Ventures continues investments in proptech

Siri Ventures continues investments in proptech

The Sandee robot is expected to provide more services than parcel delivery.
The Sandee robot is expected to provide more services than parcel delivery.

Siri Ventures has announced investments in two startups and a US fund in the fourth quarter this year.

Siri Ventures has invested over 300 million baht in 2018, including its latest investments in Fifth Wall, a giant venture capital fund from the US, and two startups, Techmetics and Neuron, in the final quarter this year.

The company plans to inaugurate "Siri Ventures Private PropTech Sandbox" in Thailand next year, allocating 600 million baht to scale up its investment in startups by focusing more on series A rounds or larger.

Jirapat Janjerdsak, chief technology officer of Siri Ventures Co, a joint venture between Sansiri Public Co and Siam Commercial Bank that focuses on full-scale R&D of property technology (proptech), said the sandbox will be launched in 2019.

In the year since its inception, Siri Ventures has invested in startups, funds of funds and R&D with other organisations worth a total of over 300 million baht.

Sansiri has started to adopt at its residential projects the technology and innovation of startups in which Siri Ventures invested. The startups include Semtive, a developer of electric wind turbines for accommodations; Astralink, a developer of 3D technology applications for controlling construction in real-time; AppySphere, a home automation developer; Farmshelf, the US-based startup that develops automated planting in accommodation; and Neuron, an e-scooter developer from Singapore.

The developer also launched the Sansiri Home Service application, developed using artificial intelligence to support a human-like voice command system developed by Onion Shack.

Siri Ventures has partnered with 12 Thai and global technology partners such as Startup Thailand, Microsoft Thailand, DTAC accelerate, Hubba Thailand and Unicef.

The company has also invested in the global startup platform, including Plug and Play from Silicon Valley and SOSA from Israel. Both are networks of almost 10,000 startups worldwide.

Siri Ventures recently 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.

The investment in Fifth Wall Ventures is a US-based venture capital firm that focuses on proptech worldwide.

Techmetics is a Singapore-based startup, one of the two delivery robot developers in the world. Sansiri has adopted Sandee robots in The Monument Sanampao project.

Neuron's e-scooter is undergoing a trial at a condo project in Chiang Mai.

In 2019, Siri Ventures budgeted 600 million baht for investing in innovation and technology. This includes an upgrade of the Sandee robots.

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