Thai startup receives $20 million in funding

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Thai workplace collaboration platform Eko has landed $20 million in a series B round led by Sinar Mas Digital Ventures (SMDV), the venture capital unit of Indonesian conglomerate Sinar Mas Group. RedBeat Ventures, AirAsia’s digital investment arm, also participated, along with East Ventures, Gobi Partners and several existing investors.

The Bangkok-based startup said it would use the funds to accelerate its expansion into the European and North American markets. and will move its headquarters to London. About a fifth of Eko’s 110-strong team are already based in Europe and North America.

Eko claims that its revenue has more than tripled since its last capital injection from Japanese trading house Itucho just over a year ago. Over 500,000 recurring paid users from hundreds of “medium to large enterprises” in industries such as banking, hospitality, and retail have signed up on its platform, which includes threaded chat, teleconferencing, and workflow management, among other features.

Eko claims it is differentiated by its mobile-first approach, cost-effective pricing structure, flexibility with regard to integrating legacy tools visa APIs, and the heightened security and confidentiality it can offer.

Eko has been founded in 2012 by Korawad Chearavanont, an heir to the Chearavanont family’s business empire. His grandfather Dhanin Chearavanont is senior chairman of Charoen Pokphand Group and one of Thailand’s richest men..

Korawad likens Eko to a crossing between popular messaging apps Line or WhatsApp, and more traditional productivity tools that handle common business tasks.

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Reading Time: 1 minute

Thai workplace collaboration platform Eko has landed $20 million in a series B round led by Sinar Mas Digital Ventures (SMDV), the venture capital unit of Indonesian conglomerate Sinar Mas Group. RedBeat Ventures, AirAsia’s digital investment arm, also participated, along with East Ventures, Gobi Partners and several existing investors.

Reading Time: 1 minute

Thai workplace collaboration platform Eko has landed $20 million in a series B round led by Sinar Mas Digital Ventures (SMDV), the venture capital unit of Indonesian conglomerate Sinar Mas Group. RedBeat Ventures, AirAsia’s digital investment arm, also participated, along with East Ventures, Gobi Partners and several existing investors.

The Bangkok-based startup said it would use the funds to accelerate its expansion into the European and North American markets. and will move its headquarters to London. About a fifth of Eko’s 110-strong team are already based in Europe and North America.

Eko claims that its revenue has more than tripled since its last capital injection from Japanese trading house Itucho just over a year ago. Over 500,000 recurring paid users from hundreds of “medium to large enterprises” in industries such as banking, hospitality, and retail have signed up on its platform, which includes threaded chat, teleconferencing, and workflow management, among other features.

Eko claims it is differentiated by its mobile-first approach, cost-effective pricing structure, flexibility with regard to integrating legacy tools visa APIs, and the heightened security and confidentiality it can offer.

Eko has been founded in 2012 by Korawad Chearavanont, an heir to the Chearavanont family’s business empire. His grandfather Dhanin Chearavanont is senior chairman of Charoen Pokphand Group and one of Thailand’s richest men..

Korawad likens Eko to a crossing between popular messaging apps Line or WhatsApp, and more traditional productivity tools that handle common business tasks.

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