TUESDAY, March 19, 2024
nationthailand

Siri Ventures joins hands with NSTDA to develop futuristic startups

Siri Ventures joins hands with NSTDA to develop futuristic startups

Siri Ventures has announced that three “futuristic startups” focused on living innovations are being developed in the company’s private PropTech sandbox. Autonomous car developer AIROVR, drone delivery developer Fling and intelligent security sensor SoundEye are now playing in the Siri Ventures Private PropTech Sandbox.

Siri Ventures is collaborating with NSTDA to build 3D mapping to connect with autonomous cars and to launch the first test drive in this year’s fourth quarter. Meanwhile, the venture capital also plans to invest Bt600 million in targeted startups in the second half of 2019. The company continues its vision to drive change in the real estate businesses and create digital living innovations for Sansiri’s customers through proptech.
Jirapat Janjerdsak, the chief technology officer at Siri Ventures, noted that it sought collaborators after launching its sandbox last year as a test site for startup innovations to be used in Sansiri projects. In the second half of 2019, it has extended its collaboration with the National Science and Technology Development Agency (NSTDA) and three potential startups to test three new innovations in the sandbox under the T77 project.
The first innovation to be jointly developed and tested is an autonomous car under a collaboration with developer AIROVR and NSTDA, one of the leading government agencies to research and develop vehicle technology. AIROVR will develop necessary infrastructure for an “electricity autonomous car” to transfer passengers from their accommodation to the Skytrain (first mile transportation) and from the Skytrain to their accommodation (last mile transportation). 
Meanwhile, NSTDA will develop required technological infrastructure, including drive-by-wire (an integrated sensor), a navigation system, a command and control system, and high-resolution 3D map in the T77 Project.
“First Mile and Last Mile Transportation have already taken place overseas,” said Jirapat. “We see the opportunity to develop and promote such technology and make it happen in Thailand to provide more convenience for people’s lifestyle. The pilot project in T77 will start in the fourth quarter of this year, considered as the first commercial autonomous car test driving in Thailand.”
The second collaboration is with Fling, a Thai drone developer. Fling will provide drones for goods delivery from Habito Mall to Sansiri’s condominium in the T77 project. It is scheduled to kick off testing after it receiving all permissions from related agencies.
The third collaboration the SoundEye security system, the world’s first AI-driven smart building developer. SoundEye’s microphone sensor performs emergency detection, for example, people crying for help, water leakage and gun-shot sounds in some buildings in Singapore, including Changi Airport. SoundEye will commence the T77 in the fourth quarter of this year. This is the first time its system would be used in a residential project.
“If we can develop these technologies and adopt them in the future, we will probably see autonomous cars and air-taxi drones disrupt living trends, so as to increase safety and convenience, as to enhance the transportation industry in Thailand,” said Jirapat. “Meanwhile, this will make a big change for the Thai property industry because customers will commute so conveniently that the location is no longer the main factor for choosing a property.” 
Janekrishna Kanatharana, the executive vice president of National Science and Technology Development Agency (NSTDA), points to its long-time research and development in advanced automobiles, from electric cars to autonomous cars. It has collaborated with the Transport Ministry to promote policies and regulations to prepare Thailand for autonomous cars in the near future. Moreover, it has prepared necessary infrastructure for automotive development, for example, the Focused Centre on Rail and the Modern Transport Centre, an Electric Car Battery Test Centre and the Autonomous Car Test Centre in the Eastern Economic Corridor of Innovation (EECi).
The collaboration with Siri Ventures and AIROVR is an important step to further develop NSTDA’s research into commercial use for the sake of the business sector and people in general. As well, 3D Mapping under T77 can be connected to the autonomous car of AIROVR and the drone delivery of Fling.”
“It is a good opportunity that we have joined Siri Ventures and startups to make this pilot project happen for the first time in Thailand,” said Janekrishna. “Autonomous cars and drones are no longer that far from becoming a reality. Many countries are seriously studying and developing them both to generate benefit for businesses and industrial sectors. If our first step is successful, it will change people’s living standard completely,” said Janekrishna.
Jirapat adds that Siri Ventures plans to invest Bt600 million in startups in the second half of this year. It will gives priority to ConsTech, sustainability, PropTech, and living tech and HealthTech.
Siri Ventures will devote 20 per cent of its investment budget to construction quality control. Another 30 per cent will go to technology that utilises resources smartly and treats waste efficiently, while some 20 per cent will go to PropTech’s futuristic lifestyle technology and tokenisation. About 30 per cent will be devoted to livingtech and HealthTech to enhance safety and comfort in residential projects.
Many startups have reached the proof-of-concept stage under Siri Ventures.
“We believe that the three main missions that Siri Ventures is focused on will be key factors to change the Thai property industry in a better way. We will work together with Sansiri to push lifestyle-related technology and innovation to be used in real life, to serve the changing lifestyle of the new generation, and to fulfill a futuristic experience for Sansiri’s customers,” said Jirapat.

nationthailand