Investment in Vietnamese startups booming
In this article (5)
A total of 92 Vietnamese startups raised $291 million in funding last year, said Mai Duy Quang of the Vietnam Software and IT Services Association at the opening of K-Startup Grand Challenge on Thursday.
That’s a 45 percent increase in number of startups from 2016 and a 42 percent hike in total investment, according to a report by Topica Founder Institute (TFI), an annual program which trains and connects startups with potential investors.
The biggest deal last year was Foody, a food social network startup, which was acquired for $64 million by Singapore-based SEA Group, one of the most valuable startups in Southeast Asia.
Another major winner was popular e-commerce site Tiki.vn which received a $54 million investment from JD.com, China’s second biggest online retailer, despite reports of losses in recent years.
The three most invested startup categories in Vietnam last year were e-commerce at $83 million, food technology at $65 million and financial technology at $57 million, TFI’s report said.
Questions & Answers
Q.How many Vietnamese startups secured funding last year, and how does this compare to the previous year?
How many Vietnamese startups secured funding last year, and how does this compare to the previous year?
Last year, 92 Vietnamese startups raised funding. This represents a 45 percent increase in the number of startups compared to 2016, according to a report by Topica Founder Institute.
Q.Which specific startup received the largest investment mentioned in the article, and who was the investor?
Which specific startup received the largest investment mentioned in the article, and who was the investor?
The largest deal mentioned was Foody, a food social network startup, which was acquired for $64 million. The Singapore-based SEA Group, one of Southeast Asia's most valuable startups, completed this acquisition.
Q.Which sectors attracted the most investment in Vietnamese startups last year?
Which sectors attracted the most investment in Vietnamese startups last year?
According to the TFI report, the three most invested categories last year were e-commerce, food technology, and financial technology. These sectors attracted $83 million, $65 million, and $57 million respectively.
Q.Despite reports of losses, which e-commerce site secured a significant investment, and from which company?
Despite reports of losses, which e-commerce site secured a significant investment, and from which company?
Popular e-commerce site Tiki.vn received a substantial $54 million investment despite recent loss reports. This funding came from JD.com, which is China's second-biggest online retailer.