An industrial trade engine that already works, built on an 11-year trade network — now scaling into the Vertical LLM for industrial materials.
Offline B2B trade and logistics out of Bangkok since 2015. In 2026 we put that know-how on our own platform, live in Thailand.
ASEAN factories need materials, parts and MRO supplies every day — and still buy them by phone, email and spreadsheet.
Industrial materials still move through layers of dealers, email and spreadsheets. The buying company pays for every layer — in price, time and risk.
REINDEERS Marketplace captures industrial demand. REINDEERS.AI turns that demand into production and procurement decisions. Factory data flows back into pricing, availability and lead times — a closed-loop industrial commerce network.
REINDEERS controls the whole flow — from RFQ and sourcing to customs and final delivery — and earns on both 1P trade and 3P marketplace transactions.
Live in factories: one SaaS that plans production, automates purchase orders and runs the warehouse — and turns each factory's real demand into data.
Once a customer PO arrives, AI builds the delivery plan, runs APS and BOM explosion, allocates machines and issues release orders automatically; output is tracked in real time via shop-floor IoT.
REINDEERS.AI screens as factories use them every day.
Multi-agent orchestration across the whole trade, from supplier matching to factory execution. All four agents are live.
One example order from request to delivery. Key approval points: customer approval and final shipment.
In trade, one wrong figure can stop a shipment. Three design principles of the live AI:
Today, industrial trade is manual and no data is captured. On REINDEERS, every transaction is recorded and feeds the models.
The REINDEERS platform went live in Thailand in February 2026. In August we switched to first-party trade; September was 100% 1P. We forecast $120K GMV in December, with REINDEERS.AI (MES) subscription revenue from November.
Baseline: Sep 2026 · 13 customers · ~$2.7K average per customer · ~$35K GMV.
Catalog platforms sell listings and ads. Traditional distributors sell through people. REINDEERS runs the whole trade — and sees factory demand before the order.
| Catalog / ad platforms Alibaba · Amazon Business | Traditional distributors Local MRO and trading firms | REINDEERS Marketplace + REINDEERS.AI | |
|---|---|---|---|
| How a trade starts | Search a catalog, click to order | Call or email a sales rep | Request for quote, matched to suppliers |
| Price | Fixed list price, paid placement | Rep-negotiated, opaque markup | Competing quotes per request |
| Parties | 2 — buyer and seller | 2 — plus manual coordination | 4 — buyer · supplier · forwarder · 3PL |
| Docs & customs | Outside the platform | Manual — email and Excel | Generated on the platform · HS code AI |
| Demand signal | Search and click history | The rep's relationships | Factory production data from REINDEERS.AI |
| AI | Generic search and ads ranking | None — people and spreadsheets | 4 AI agents + proprietary trade data |
| Revenue model | Commission and advertising | Product margin | 1P margin · PB · 3P commission · SaaS |
1P direct sales build the customer base; the 3P marketplace grows on top of it. By 2029, 3P is more than half of GMV.
| 2026 | 2027 | 2028 | 2029 | 2030 | |
|---|---|---|---|---|---|
| Total GMV | 0.40M | 5.11M | 16.0M | 30.7M | 50.4M |
| 1P revenue | 0.26M | 4.25M | 10.8M | 15.7M | 19.8M |
| 3P GMV | 0.14M | 0.86M | 5.1M | 15.0M | 30.6M |
| 3P commission | 0.01M | 0.06M | 0.35M | 1.04M | 2.11M |
| SaaS revenue | 0.01M | 0.16M | 0.43M | 0.94M | 1.77M |
| Total revenue | 0.28M | 4.46M | 11.6M | 17.7M | 23.7M |
| Gross profit (margin) | – | 1.67M (37%) | 4.49M (39%) | 7.29M (41%) | 10.45M (44%) |
| People & overhead | – | 0.28M | 1.63M | 2.12M | 2.60M |
| Logistics (3% of rev.) | – | 0.13M | 0.35M | 0.53M | 0.71M |
| EBITDA (margin) | Q4 +0.03M | 1.26M (28%) | 2.51M (22%) | 4.63M (26%) | 7.14M (30%) |
| REINDEERS.AI subscribers (Dec) | 8 | 25 | 63 | 127 | 228 |
Five full-time co-founders: a founder with 20+ years on the ground in Thailand, three NHN Accommate leaders who built Korea–China cross-border commerce, and a Southeast Asian logistics operator. Backed by a 6-person operations team in Bangkok.
Public web data
Internal production, procurement and trade data
The Marketplace and REINDEERS.AI are built and live. Operating costs are covered by gross profit, not by the round.
ASEAN's second-largest manufacturing economy, where a quarter of GDP comes from factories — and where REINDEERS has run B2B trade since 2015.
Every chronic problem of the dealer market maps to something we have already built — first digitise the trade, then let AI run it.
| Work area | Today · dealer market | With REINDEERS | Impact |
|---|---|---|---|
| Purchase price | Dealer markups of 30%+ (imports 50%+) | ~7% cheaper than customers' previous dealers — with margin to spare | −7% price |
| Quotes | 2–3 days of manual comparison | AI compares supplier quotes | AI auto‑suggestion |
| HS code | Classified by hand · frequent errors | AI suggests the HS code · a person confirms | AI auto‑suggestion |
| Logistics cost | Forwarders asked one by one · 1–2 days | Forwarder bidding · real-time comparison | 15–20% lower |
| Inventory | Manual Excel entry · no real-time view | REINDEERS.AI live stock · automatic alerts | Real-time |
| Trade documents | Half a day per shipment (CI · PL · B/L) | Generated on the platform | 80% less time |
| Workflow | Email and phone · no tracking | One workflow · end-to-end tracking | Automated |
Active = registered and doing business on the platform: requesting or answering quotes, or completing orders. Most active buyers already order; supply runs wider than the registered list.
Each target is benchmarked against the global leader.
| KPI | Current level in Korea | R&D target | World level | |
|---|---|---|---|---|
| Match Precision@10 | 40–55% | → | 75%+ R&D target | 80%+ · Alibaba |
| Document Numerical Accuracy | 92–96% | → | 99%+ R&D target | 99.95%+ · Google |
| AI Action Pass Rate | — | → | 95%+ R&D target | 92–96% |
| Work Order Accuracy | 70–80% (manual) | → | 98%+ R&D target | 98–99% · SAP |
How the projection on slide 19 is calculated.
The scope behind the figures on slide 15 (traction) and Appendix A3 (network).
| Source · period | Platform reindeers.co.th · Feb – Sep 2026 actual, Oct – Dec forecast · Asia/Bangkok |
| GMV · revenue | Recognised at delivery handover · excl. cancelled orders and the platform's own buyer account · goods only, excl. VAT, duty and freight, net of refunds |
| Currency | USD at 33 THB/USD, rounded |
| MES revenue | REINDEERS.AI subscriptions at $833/month (annual plan) |
| Registered | Approved and enabled accounts on 5 Oct 2026, excl. REINDEERS' own (buyers: this platform; suppliers: all platforms) |
| Active | Registered accounts that requested or answered a quote / RFQ or had a delivered order, Feb – Sep 2026 |
| Ordered / sold | ≥1 delivered order (same rules as GMV) |
| Related party | Feb – Aug includes purchases by iMarket, the founder's existing trading company |
Gen 1 platforms were built for catalog ordering. Industrial trade is a different game — quotes, documents and four parties working together.