Thailand unicorn LINE MAN Wongnai has acquired the restaurant management platform FoodStory for an undisclosed amount, while Singapore game studio Eyeball Games has secured $1.5 million.
LINE MAN Wongnai buys restaurant management platform FoodStory
Thailand-based tech startup and unicorn LINE MAN Wongnai has acquired the restaurant management platform FoodStory for an undisclosed amount.
The acquisition is expected to expand FoodStory’s restaurant management system, including its point-of-sales (POS) systems and mobile merchant app, to all restaurant segments in Thailand, according to a press release.
Thagoon Chartsutipol and Chawin Supawong, the co-founders of FoodStory, will join LINE MAN Wongnai as senior executives for the merchant solutions business.
Additionally, more than 150 FoodStory employees will report to Ekaluck Viriyakovithya the chief operating officer of LINE MAN Wongnai’s lifestyle unit.
“After working with LINE MAN Wongnai, we share the same vision and believe this acquisition will upgrade the Thai restaurant industry to the next level and allow our FoodStory users more access to LINE MAN Wongnai’s very large ecosystem,” said Thagoon Chartsutipol, co-founder of FoodStory.
LINE MAN Wongnai was formed in July 2020 from the merger of Line Man, Thailand’s on-demand assistant app, and Wongnai, a Thai restaurant aggregator. Line Man is a unit of Japan-based Line Group.
The merged company raised $110 million from BRV Capital to compete with regional players such as Grab and GoTo in July 2020. It now operates in all 77 provinces in Thailand, offering delivery options to 700,000 restaurants, according to the announcement.
The company had raised $265 million in a Series B funding round that valued it at over $1 billion, minting LINE MAN Wongnai as a unicorn last year.
SG’s Eyeball Games raises funds from White Star Capital, others
Singapore-based game studio Eyeball Games has secured $1.5 million in a pre-seed funding round led by US venture capital investor White Star Capital, which chipped in via its Ubisoft-backed Digital Asset Fund.
The equity financing round was oversubscribed and participated by Web3 firms Polygon Ventures and Immutable, the company said in a release on Thursday. Venture capital funds Ocular and Great South Gate Ventures also joined the round.
Founded in 2022, Eyeball Games, the studio behind the popular mobile pool game 8 Ball Pool, plans to fully release its first title, Eyeball Pool, in Q1 2024.