Line Man, a Thailand-based on-demand delivery subsidiary of internet company Line, today raised $110m in funding from BRV Capital Management, the growth equity affiliate of venture capital firm BlueRun Ventures.
The funding round was revealed at the same time as Line Man said it was merging with Wognai Media, a restaurant review and discovery portal that operates across nine cities in Thailand. Terms of the merger were not disclosed.
Line Man operates a food, goods and parcel delivery service, as well as a ride hailing app. The money will strengthen Line Man’s business and help the newly merged company expand its offering as it plans to enter 15 regions across Thailand this year.
Eunjung Lee, head of global business for Southeast Asia at Line, said: “We are excited to be working with BRV Capital Management, a growth capital firm that has repeatedly shown it knows how to find and develop winners.
“Since its launch four years ago, Line Man has grown into the most popular delivery application for the Thai people – and now, this investment by BRV Capital Management will help take Line Man to the next level.”
Line Man does not appear to have disclosed any prior funding, though it claimed the investment from BRV marked the largest cash injection into an overseas Line subsidiary yet.
