An 11-year trade network → a live platform → an AI execution network. On top of real industrial trade, we add AI that links factory production and purchasing data to the deal.
An 11-year industrial supply business, now a live platform with AI execution. As traffic grows, we sell high-margin items ourselves and move everything else to 3P sellers — so cash flow improves as we scale.
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.
Live in Thailand since Feb 2026. Monthly GMV to date and the Oct–Dec outlook.
ASEAN factories need materials, parts and MRO supplies every day — and still buy them by phone, email and spreadsheet.
REINDEERS controls the whole flow — from RFQ and sourcing to customs and final delivery — and earns on both 1P trade and 3P marketplace transactions.
When a customer PO arrives, AI builds the delivery, production, material and machine plans; once a planner approves, it executes.
One example order from request to delivery. Key approval points: customer approval and final shipment.
Match and Doc engines run live on the Marketplace; Ops and Planning engines ship in the REINDEERS.AI beta. Every deal adds proprietary data that flows back into the models.
Alibaba.com offers RFQ and Amazon Business offers procurement-system integration. REINDEERS runs the whole local Thai trade in one operating system.
We hold stock only for fast-moving, high-margin items sold 1P; everything else moves to 3P sellers. New organic customers start on cash payment, so their cash arrives before we pay the supplier.
| Transaction type | Customer pays | We pay supplier | Our cash tied up |
|---|---|---|---|
| Existing network customersOn credit | ~55 days after order (avg.) | 15–30 days | +25–40 daysWe pay the supplier before the customer pays us |
| New organic customersCash | At order | 15–30 days | −15 to −30 daysCash comes in before we pay the supplier |
| PB stock items1P · private label | — | — | + 90 days of stockFast-moving, high-margin items only |
| 3P marketplaceSuppliers sell directly | Supplier's goods · REINDEERS earns a 6.9% commission | No working capitalNo stock, no customer credit | |
First we convert our 11-year network into platform buyers; from 2027 H2 we add new channels.
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.
Strategic M&A is the primary route; an IPO is a longer-term option once scale and profitability are in place.
ASEAN's second-largest manufacturing economy, where a quarter of GDP comes from factories — and where REINDEERS has run B2B trade since 2015.
Multi-agent orchestration across the whole trade, from supplier matching to factory execution. Match and Doc engines run on the Marketplace; Ops and Planning engines ship in the REINDEERS.AI beta.
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.
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 |
| 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 | 0.004M | 0.10M | 0.27M | 0.59M | 1.11M |
| Total revenue | 0.27M | 4.41M | 11.5M | 17.3M | 23.0M |
| Gross profit (margin) | – | 1.63M (37%) | 4.36M (38%) | 7.00M (40%) | 9.92M (43%) |
| People & overhead | – | 0.28M | 1.61M | 2.08M | 2.53M |
| Logistics (3% of revenue) | – | 0.13M | 0.34M | 0.52M | 0.69M |
| EBITDA (margin) | Q4 +0.02M | 1.22M (28%) | 2.41M (21%) | 4.40M (25%) | 6.70M (29%) |
| REINDEERS.AI subscribers (Dec) | 5 | 16 | 40 | 80 | 143 |
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.
The scope behind the figures on slide 5 (traction), slide 12 (unit economics) and Appendix A8 (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 |
| SaaS revenue | REINDEERS.AI subscriptions at $833/month (annual plan), from Dec 2026 |
| 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) |
| iMarket · external | iMarket = the founder's existing trading company (related party) · external customers = buyers other than iMarket and REINDEERS' own accounts |
| Repeat purchase | 17 of 27 external buyers (63%) bought in two or more distinct months, Feb – Sep 2026 |
| Gross margin · PO | 35% = (revenue − cost of goods) ÷ revenue, 1P actual Aug – Sep 2026, management accounts · average PO = Sep 2026 GMV ÷ 49 POs ≈ $716 |
| Break-even | $15K fixed cost per month ÷ (35% gross margin − 3% logistics) ≈ $47K monthly revenue |
Gen 1 platforms were built for catalog ordering. Industrial trade is a different game — quotes, documents and four parties working together.
Slide 8, step 02 · For each item: open demand, planned production and projected stock per day, with late items and machine overload flagged. Screens are in Korean.
Slide 8, step 03 · Multi-level BOM
Slide 8, steps 04–05 · Each work order shows the BOM process flow, machine assignment, Gantt schedule, material readiness and live production output.
