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Thailand has its first unicorn startup, and it's in the logistics space.

Flash Group became the country's first unicorn startup after raising $150 million


Thailand has its first unicorn startup, and it's in the logistics space. | BEAMSTART News

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.

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