Thai proptech company Builk One Group has raised a Series B+ round, five months after it landed Series B funding.
The investment came from Siam Cement Group (SCG), Krungsri Finnovate — the corporate venture capital arm of Krungsri Group — and BCH Ventures, which is under the telecom services provider Benchachinda Group.
Builk, which develops enterprise management solutions and e-commerce platforms for the construction and real estate industries, said the latest strategic investment will drive its SaaS business, which covers enterprise resource planning and customer relationship management to fintech services.
With the investment, SCG aims to develop a digital platform to increase work efficiency for the entire supply chain in the construction industry, as well as enhance SCG’s ability to expand its business through other platforms and to foreign countries more quickly.
“We foresee that digital technology will drive the construction industry by leaps and bounds. This collaboration will enable all sectors in the construction industry to effectively connect and access construction products and services,” said Bunn Kasemsap, managing director of SCG Distribution Company Limited.
He added that the partnership will first develop a platform to empower large contractors.
“Construction business is an important business for the Thai economy due to a large number of infrastructure-related projects,” Sam Tanskul, managing director at Krungsri Finnovate, commented.
Tanskul said its participation in Builk’s Series B+ round will complement Krungsri Group’s ecosystem with collaboration to expand customer base and create value for banking services, as well as opportunities to help Krungsri’s business customers, especially SMEs in the construction space, enhance business efficiency.
BCH Ventures “looks at the return on investment for medium-term returns as well as extending the service platform between investors and portfolio companies” when making the investment in Builk, the firm’s investment director Pirachai Bencharongkul said.
Builk’s product offerings include Builk.com, Pojjaman, Jubili by Builk, and Yello Smart Purchase. In addition to management software, Builk’s e-commerce unit has served over 40,000 businesses across ASEAN.
In March this year, the company raised Series B funding from Beacon VC, the corporate venture capital arm of Kasikornbank, AddVentures by SCG, Cre-Ful Co Ltd, and Rosewood Capital.