“ITOCHU Corporation of Japan, has made a major strategic investment into Eko Communications, a leading technology startup from Thailand. ITOCHU’s investment will support Eko’s ambition to expand into overseas markets around the world whilst fulfilling ITOCHU Corporation’s initiatives to invest in fast-growing technology startups and drive change within its own organization. The investment will raise the total amount invested into Eko’s products and people to well over US$10 Million, helping to accelerate the startup’s growth before a planned Series B round in 2018.”
“Today, Eko is a $1.2 million business with Bangkok Bank and family-connected mobile operator True Corporation as clients and half its revenues from China. Eko raised $1 million from 500 Startups and Siemer Ventures in 2014, then $5.7 million from Gobi Partners in 2015.”
“His three-year-old app is gaining traction. Korawad has signed on Southeast Asian banks including Bangkok Bank Pcl, media conglomerate BEC-TERO Entertainment Pcl and telecommunications firm True Corp.”
“Eko’s clients range from major banks to medium-sized retailers. Its customers include public companies with more than $25 billion in market capitalisation spanning Asia and beyond.
Eko last year received an initial $1 million in seed financing from 500 Startups and Siemer Ventures. It also received pre-seed funding from Tigerlabs Ventures.”