SCG continues to invest and build up a network of startups, appointing “Prakit Worawattananon” as a new executive of AddVentures. Company reveals mission to accelerate technology growth. Bring in Big Data to create new business opportunities and target to invest 3 billion within five years. We are focusing on the changing of consumer demand as an impact of COVID-19.
Mr. Prakit Worawattananon, a Managing Director of AddVentures, an SCG’s investment unit under the Corporate Venture Capital (CVC) revealed that his mission after taking a new position in 2021 is to accelerate investment in potential startups continuously, especially in Southeast Asia, China, and India, to seek new business opportunities. The mission is to strengthen SCG’s vision as an innovative organization and flexible for new changes.
AddVentures has continued the mission. Since last year, the company has tapped into one Venture Capital fund and four startups based on SCG-related businesses. There is strong growth despite the Covid-19 pandemic. The four startups include Bizongo, an e-commerce platform for packaging business in India, with large corporate customers such as Amazon, Ecom Express, and Flipkart.
The other three startups are from Indonesia. The first one is Printerous which offers an online platform for packaging business. The second company, Janio, offers a complete range of Cross-Border E-commerce Logistics. And the third business is Tanihub, a B2B agriculture marketplace that connects farmers with food, hotel, restaurant, and catering business people.
Almost four years after the establishment, AddVentures continued to expand its investment portfolio. The company invests both directly and through Venture Capital in eight countries divided into sixteen startups and five funds. There are six projects under the discussions to establish joint ventures.
The investment continues to focus on three main verticals: Industrial, Enterprise, and B2B. AddVentures aims at bringing in new business models to expand in Southeast Asia, where SCG has a network of clients and partners to create new business opportunities for SCG.
For investment trends in startups after the COVID-19 Crisis, SCG commits to respond to consumers’ needs to be “right on the spot” and “quick.” One of AddVentures’s focuses is technology adoption and Big Data analysis for business development. It is also a gateway to welcome technology from external startups to increase the organization’s capabilities through investment or working together as a Partner.
Before AddVentures, Mr. Prakit Worawattananon has worked in various industries, including cement & building materials, chemicals, packaging, and logistics. His diverse roles throughout his career range from business strategy, business development to data analytics. He was also Head of DeepTech Innovation and Zero to One, a startup studio by SCG.
“Taking an assignment at AddVentures is a challenge in taking SCG into a full-fledged digital organization. This is not just a matter of bringing tools or applying technology into the business. It is also about the Mindset (thinking process, attitude), employee behavior. It is also an opportunity to utilize the work experiences, bring pieces together just like a jigsaw puzzle to make a big picture,” said Mr. Prakit.
Published on: Mar 8, 2021