CloudCommerce, a start-up company from the dtac Accelerate Batch 4 project, on Monday announced a cooperation agreement with the Federation of Thai Industries (FTI) and Siam Commercial Bank (SCB) to tap groups of SME customers.
The company has received investment funds from the top three start-up funds – dtac Accelerate, Intania Open Innovation Club and 500 TukTuks – and is ready to set goals for over 20,000 users this year.
Wootinun Sungong, CloudCommerce founder, said he was certain that his start-up would play a major role in pushing Thai small and medium-sized enterprises forward and succeeding at the international level.
The main feature of CloudCommerce is the system that connects the SME product data with online markets globally, which makes entering the global market easy.
Furthermore, it connects the logistic system in order to help reduce production costs and shipping times.
It also helps provide an opportunity for business growth for customers, Wootinun said, citing fellow start-up FastShip.co, a logistics platform that was launched early last year and has received satisfying feedback, with more than 5,000 users currently.
Sompoat Chansomboon, director of Business Innovation at dtac Accelerate, said that according to Techsauce Thailand, the Thai e-commerce market saw overall income of more than US$2.9 billion (Bt90.3 billion) last year and had an expected average annual 14.5-per-cent growth rate, which would result in sales of $5.8 billion in 2022 and $11.1 billion in 2025.
The biggest e-commerce business segment in the market is electronics, which saw income of $1.2 billion last year.
CloudCommerce and Fastship.co are start-up businesses that both have a 150-per-cent growth rate and traction via their platforms of over Bt20 million.
Both play major a role in the Thai e-commerce system as an important tool for e-commerce and logistics, the dtac Accelerate director said.
Wootinun has been in the e-commerce field for more than 15 years, together with experts who have a great deal of experience in e-commerce, which has generated Sompoat’s trust in CloudCommerce and its founder from the very beginning.
As the supervisor who takes care of start-up competitors in dtac Accelerate, he said he was proud to see CloudCommerce achieving a high growth rate and generating faith and trust in investors like 500 TukTuks –run by Chulalongkorn University – and other partners worldwide.