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| Funding for seed-stage technology companies in Vietnam was worth $4.5 million in the first quarter of this year. — Photo vneconomy.vn |
HÀ NỘI — Vietnam’s technology ecosystem has raised a total of USD 35.7 million in funding as of March 15 this year, a 39 percent decrease from USD 58.6 million in the same period last year, according to private market data platform Tracxn.
Overall, Vietnam currently ranks third among Southeast Asian (SEA) countries in terms of capital mobilized in the first quarter of this year, behind Singapore and Indonesia.
The country’s early-stage investments stood at $31.2 million in the first quarter of this year, down 47% from the same period last year.
Funding for seed-stage technology companies in Vietnam was worth $4.5 million in the first quarter of this year.
Be Group, owner and developer of the multi-service consumer platform Be, has raised $31.2 million in a Series B round, making it the most-funded company in the space in the first quarter of this year.
Automotive technology, education technology and enterprise applications were the best performing sectors across Vietnam’s technology industry in the first quarter of this year.
Of these, companies in the automotive technology and education technology sectors raised $31.2 million and $2.5 million, respectively, from the beginning of the year to mid-March.
So far, no new unicorns have emerged in Vietnam’s ecosystem since the beginning of the year, similar to the first quarter of last year.
There was little divestiture-related activity, only two acquisitions, and no initial public offerings (IPOs).
In terms of capital funding for the city, technology startups based in Ho Chi Minh City raised $33.2 million in the first quarter of this year, while startups based in Binh Thanh district raised $2.5 million.
CyberAgent Capital, Nextrans and Vietnam Silicon Valley are the most active investors.
Northstar Ventures, Monk’s Hill Ventures and R2 Venture Partners were the top seed-stage investors in technology companies in the first quarter.
of tap chi kinh te vietnam (VnEconomy – Việt Nam Economy Times) cited Tracxn’s assessment that Vietnam has established itself as an emerging startup center in Southeast Asia, and this ecosystem has the potential to develop in the coming years. —VNS
