Line Thailand, a mobile messaging platform, and Line Ventures, a venture capital arm under Tokyo-based Line Corporation, have earmarked $20 million investment to support the growth of Thai startups.
The companies plan to develop the first Thai unicorn within 3 to 5 years, under the ScaleUp programme.
The ScaleUp programme intends to nurture startups by allowing them access to LINE’s 44 million users in Thailand and one year of free access to its messaging application programming interface.
The programme will focus on sectors including education, digital content or media, and e-commerce that can complement Line’s businesses.