VinaCapital invests further in live video streaming startup

A Vietnamese startup that provides multi-platform Livestream service for social sellers, GoStream, has received a second round of investment from venture capital firm VinaCapital Ventures.

But it has not disclosed the value of the investment.

GoStream has completed its series A funding worth $1 million, co-founder Nghiem Tien Vien said last November at the 2020 TechFest Vietnam, a national festival for innovative startups.

VinaCapital Ventures CEO Hoang Duc Trung said GoStream is the leading company in integrating live streaming across a number of sectors.

“Their innovative streaming technology is helping more businesses reach more viewers and customers, and we look forward to working with them as they further expand their capabilities and play an even greater role in Vietnam’s growing digitization.”

Founded in 2017, GoStream is a simulcasting live video streaming platform serving multiple corporate clients and facilitating over 100,000 live streaming sessions daily.

Its product, GoStudio, won the first prize at the Vietnam TechFest and will represent the country at the 2021 Startup World Cup contest in the U.S.

In 2019, GoStream made it to the top 30 most used live broadcasting applications on Facebook.

It received $200,000 in seed funding from VinaCapital and the startup accelerator program Zone Startups Vietnam.