RISE Corporate Innovation Powerhouse raises USD 8 million, one of the largest seed rounds in Southeast Asia
[Bangkok, Apr 8, 2020] The company is looking to supercharge a tech-enabled corporate innovation platform to scale its service exponentially to help corporates, large family businesses, and government sectors region-wide to succeed in executing innovation.
RISE is a leading corporate innovation powerhouse based out of Southeast Asia with the bold mission to lift up 1 percent of GDP for Southeast Asia. RISE has been working closely with leading corporates and government agencies across the region to assist them to becoming more innovative and successful in the fast-paced future through its unique corporate accelerator, intrapreneur university, venture building services, and experiential conference.
Earlier this March RISE announced that it has raised USD 8 million in Seed funding, which is considered as one of the largest Seed rounds in Southeast Asia. The lead investors include Metro Company Limited, D2C Inc. (Japan), Chanwanich Company Limited, among others.
RISE will be using the fresh funds to supercharge its tech-enabled corporate innovation platform that will enable RISE to scale its services exponentially beyond Thailand to Singapore, Indonesia, and Malaysia, to assist corporations in these countries in transforming their businesses through innovation.
“We are a Southeast-Asian-born company with a global vision to disrupt corporates’ R&D and training landscape with the market size of USD 50 billion by leveraging from our success rooted in Thailand and localize our service portfolios to each market’s needs,” said Dr. Kid Parchariyanon, CEO and Co-founder of RISE.
Launched in 2016, RISE has been growing rapidly and aggressively. It is now hitting USD 1 billion in impact through the effort of executing corporate innovation across the region by creating the global ecosystem for corporate innovation, with a network of more than 400 corporations, 2,000 startups, and over 20,000 corporate innovators across the globe.
“The past year has been an important step for Metro Company Limited. We have over 60 companies in various industries, including digital industry, foods, real estates, construction materials, and other investments. As such, digital transformation is an important step for our company group. We see RISE supporting us in driving our internal innovation faster and stronger by uncovering our new S-curve, exploring our business growth potential, through its global network of innovation and experiences in transforming many leading organizations in Southeast Asia,” said Mrs. Wantana Thongthai, Chairman of the Board, Metro Company Limited, a long-established company with over 50 years of history in Thailand which owns 3 stock-exchange listed companies.
“For us, speed is the winning key in the game of innovation. With the global network of RISE, we strongly trust that RISE is able to connect best-in-class tech startups via its Global Accelerator program to collaborate with our internal team in order to accelerate our innovation,” added Ms. Keibun Go, Global Business Alliance Head of D2C Inc., a digital advertising and marketing company established as a joint enterprise between Japan's largest telecommunications company NTT DOCOMO Inc. and Japan's largest advertising agency, Dentsu Group Inc.
Besides earning trust and support from the private sector, RISE also engages government agencies across the three countries - Thailand’s Digital Economy Promotion Agency (depa), Malaysia’s Malaysia Digital Economy Corporation (MDEC) and Malaysian Global Innovation and Creativity Centre (MaGIC), and Singapore’s Enterprise Singapore (ESG) to support its activities and shape the ecosystem since 2019.
“Collaboration, not competition, has always been our philosophy. We believe the collaboration between corporates, startups, and the governments will be the driving force of the innovations in Southeast Asia,” concluded Dr. Kid.
RISE is a leading Corporate Innovation Powerhouse based out of Southeast Asia. With the mission to lift up 1 percent of GDP of this region, we work closely with Fortune 500, large family businesses, and government agencies across the region to help set up and scale innovation initiatives from outside and within the organization. We are known for Global Accelerator Program, Intrapreneur University, Venture Building Services, and Corporate Innovation Summit - Asia’s Largest Experiential Conference. We have been creating the global ecosystem for corporate innovation with a network of more than 400 corporations, 2,000 startups, and over 20,000 corporate innovators and partners in 40 countries around the world, contributing to a combined impact of over US$1 billion.
For more information about RISE, check out https://riseaccel.com.
About Metro Company Limited
Metro Company Limited is a holding company established since 1968, which owns 3 stock-exchange listed companies. The group has more than 60 subsidiaries divided into 5 main categories (1) Digital Industry, with its core company in Metro Systems Corporation Public Co., Ltd., a leader in the provision of full IT-service (2) Food Industry, where it operates the business with care through United Flour Mill Public Co., Ltd., which has expanded into related businesses including food and bakery, silo business, warehouse, and logistics. (3) Real Estates, with Siam Aroon Group Co., Ltd. Operating and developing residence under the brand “Citi Resort" (4) Construction materials, operated through Bangkok Steel Industry Public Co., Ltd., a professional in the metal industry and lastly (5) Other Investments, with emphasis on investments in companies with potential and growth, such as Thai Central Chemical Public Co., Ltd. and Thai Obayashi Corporation Limited.
About D2C Inc.
D2C Inc., a digital advertising and marketing company established as a joint enterprise between Japan's largest telecommunications company NTT DOCOMO Inc. and Japan's largest advertising agency, Dentsu Group Inc. on June 1, 2000.
At D2C, the three business domains are "Digital Marketing Business," to provide a one-stop service for integrated digital marketing from planning to execution; "DOCOMO Business" which handles advertising for DOCOMO media and many other kinds of general media; and "Overseas Business," which implements advertising and marketing in countries centered around Asia. These businesses are deployed around the fulcrum of digital domains.