ShopSpot is described in the article as a Thai social commerce platform and one of Southeast Asia’s leading social commerce platforms. The article identifies the company primarily by its role in social commerce. ShopSpot has raised an undisclosed Pre-Series A funding round. Investors named in the round are InVent, the venture capital arm of Intouch Holdings Pcl, and Singtel Innov8 Pte Ltd. The article does not disclose the funding amount, specific instruments beyond the Pre-Series A designation, operating metrics, or future plans. ShopSpot is a Thailand-based startup that shifted its product from a peer-to-peer shopper matchmaking app to a traditional mobile shopping platform. The earlier app paired sellers and goods with buyers based on geolocation; the new version aggregates goods from merchants and brands. The pivot was driven by poor results from the Craigslist-style model in Asia and demand from local shops seeking a mobile sales channel. The service is currently available only in Thailand while the company resolves teething problems, with plans for a Southeast Asia roll-out thereafter. Financially, ShopSpot announced $628,000 in new funding from Jungle Ventures and SingTel Innov8, with the Jungle portion backed by Singapore’s National Research Foundation under its Technology Incubation Scheme. The company previously raised an undisclosed angel sum led by Thai investor Kris Nalamlieng after graduating from a JFDI/Innov8 bootcamp in 2012, and it added Thomas Clayton to its board of advisors.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2013