Line commits $20m to develop first unicorn in Thailand

Line commits $20m to develop first unicorn in Thailand

Line Thailand and Line Ventures are setting aside US$20 million to empower Thai startups through its post-accelerator program, Line ScaleUp.

Through the program, Line aims to help Thailand develop its first unicorn, the company said in a statement.

Outside Line HQ, Tokyo

Photo credit: Line

According to Line, the Thai startup scene “remains relatively underdeveloped compared to Indonesia, Vietnam, and Malaysia, with only US$61 million invested in [local] startups last year.”

The company will focus on scaling up its cohort to expand outside of Thailand and help them gain international funding.

Launched in 2018, ScaleUp offers selected startups access to the Line Messaging API, technical consultation, and business and investment coaching.