Vietnam Startup and Funding News(May)

CNN spotlighted how new technology is transforming Vietnam’s economy, featuring startup pioneers such as VNG (Vietnam’s first unicorn), Tiki, and Appota. A 2018 report by Google and Temasek described Vietnam’s digital economy — which is growing at more than 40% a year — as “a dragon being unleashed.” […] Technology is reshaping the way people in Vietnam do business, manufacture goods, entertain themselves, shop, organize their finances, and communicate. CNN. 4/7

Former Lazada execs’ OnPoint snaps up $8M to double down on Vietnam. This marks one of the largest Series A rounds in Vietnam in recent months amidst the ongoing global pandemic. Founded in December 2017, OnPoint is a leading e-commerce enabler in Vietnam. Vietnam Investment Review. 4/23

Vingroup develops masked facial recognition tech for smartphones in virus fight. VinAI Research, the artificial intelligence unit of Vietnamese conglomerate Vingroup, has developed a facial recognition technology that can identify users wearing masks. Bloomberg. 4/20

Other funding announcements: Online pharmaceutical marketplace BuyMed raised a $2.5M led by Sequoia’s Surge and Genesia Ventures (TechCrunch, 4/27); mobile game publisher Funtap secured a seven-digit Series A round led by Makers Fund (DealStreetAsia, 4/29); Vietnam’s VC fund Next100 invested $430K in local recruitment platform TopCV (DealStreetAsia, 4/15); Homebase raised an undisclosed pre-seed amount from Antler, Iterative VC, and others (Tech In Asia, 4/9).

Local payments startup GPay receives a license to join Vietnam’s crowded fintech market. Kr-Asia. 4/22

<Source : 500startup VN website>

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