Flash Express, a logistics firm from Thailand, has become the first startup company to reach "unicorn" status in the country.
This comes after the company raised $150 million in it's recent funding round.
Key Highlights
- Flash Group raised north of $150 million, valuing the company above $1b.
- Investors for the round include SCB 10X, Siam Commercial Bank's VC arm, Founder's Fund, Buer Capital, PTT Oil, among others.
- The company has crossed over 2 million parcels a day in logistics volume.
Why It Matters
- The emergence of a new unicorn would significantly boost Thailand's startup ecosystem and morale.
- The true test would be whether Flash Group is capable of dominating new markets outside Thailand.
- The Southeast Asian logistics space is expected to grow to $55 billion by 2025.
